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Following Peers Higher After Long Weekend

GILTS

Gilts follow core global peers higher after the long weekend, with futures moving beyond Friday’s high in the process.

  • Contract +61 at 97.57 (97.49-59 range).
  • The 50-day EMA (97.65) presents the key short-term resistance point. A break there would pose a slightly deeper threat to the prevailing technical picture and expose round number resistance at 98.00.
  • Cash gilt yields are 3.5-4.5bp lower across the curve.
  • SONIA futures are little changed vs. pre-gilt open levels, -0.5 to +6.0 through the blues.
  • A quick briefing of UK news and data flow can be found in our early morning STIR bullet.
  • Only lower tier UK data is due Tuesday, with Thursday’s BoE decision moving into view. Expect our full preview of that event later today.
  • The DMO will tap the 1.50% July 53 green gilt for GBP2.5bn on Wednesday.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
Bank Of England (BOE) Market NewsHomepageBond Market NewsBulletMarketsFixed Income Bullets
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
Bank Of England (BOE) Market NewsHomepageBond Market NewsBulletMarketsFixed Income Bullets

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