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French Political Angst Provides Support, Again

GILTS

Gilts look to wider core global FI markets for cues this morning, printing a fresh multi-week high, before pulling back from best levels to trade +45 at 98.35 last.

  • The recent rally in the contract provides a resumption of the bull cycle that started May 29.
  • Next resistance at yesterday’s high (98.24) has been pierced, with the contract printing as high as 98.43. Fresh upward impetus would target the 1.00 projection of the May 29 -Jun 4-10 price swing (98.65).
  • Conversely, initial support lies at the 20-day EMA (97.20).
  • Cash gilt yields are 1-2bp lower across the curve, with 10s outperforming at the margin.
  • The BoE-Ipsos inflation attitudes survey headlines the UK calendar ahead of the weekend, although cross-market matters are set to receive as much, if not more, interest.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
HomepageBond Market NewsBulletMarketsFixed Income Bullets
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
HomepageBond Market NewsBulletMarketsFixed Income Bullets

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