Free Trial

Futures Fail To Hold Above 100.00, Curve Twist Steepens

GILTS

Gilt futures topped out at 100.03 post-NFPs, with bulls unable to establish themselves above the psychological 100.00 level.

  • Contract last +23 at 99.56, with the pullback coming alongside a similar move in U.S. Tsys.
  • Today’s high now presents initial resistance.
  • Cash gilt yields are 5bp lower to 1bp higher as the curve twist steepens.
  • 5s continue to outperform, pushing 5s30s off yesterday’s multi-month low and back to 50bp.
  • 10s failed to close the Feb 5 opening gap we have flagged on several occasions.
  • Local headline flow remains subdued.
  • UK risk events return next week, with labour market data set to headline.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.