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Following Peers, Supply Due

GILTS

Futures edge away from yesterday’s high alongside global peers, leaving the 99.00 figure intact.

  • Contract last -5 at 98.83 (98.73-86 early range).
  • Cash gilt yields are little changed across the curve.
  • SONIA futures give back their early uptick, last flat to -1.5.
  • BoE-dated OIS moves back to unchanged levels, showing ~70.5bp of ’24 cuts.
  • Today will see the DMO auction GBP4.0bn of the 3.75% Mar-27 gilt.
  • Broader UK news flow has been limited since yesterday’s close, with today’s local schedule empty outside of the gilt auction.
  • That should leave focus on macro matters and the U.S. CPI release.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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