September 06, 2024 07:27 GMT
Futures Back Above 100.00
GILTS
Gilt futures through the next couple of resistance levels at the open, trading as high as 100.07.
- Equity weakness and the overnight bid in core global FI markets lends fresh support.
- Bulls now eye the Aug 14 high and bull trigger (100.30). A break there would further solidify their technical control.
- Yields 3-4bp lower, another round of modest steepening seen on the curve.
- 50-Year yields print through their mid-August lows, but the rest of the curve hasn’t.
- SONIA futures little changed to +5.5.
- BoE-dated OIS still showing ~45bp of cuts through year end.
- Expect the NFP release and subsequent Fedspeak to dominate today, with little of note on the UK calendar until Tuesday’s labour market report.
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