MNI BRIEF: EU Parliament Backs Von Der Leyen For 2nd Term

MNI: ECB LEAVES KEY DEPOSIT RATE UNCHANGED AT 3.75%

MNI China Daily Summary: Thursday, July 18

MNI BRIEF: China To Upgrade Rural Land Reform: 3rd Plenum

MNI BRIEF: China's Third Plenum Eye's Deeper Financial Reform

MNI BRIEF: China Third Plenum Expands International Opening

Employment Insurance Rises In May After Stable Trend, Up 14% YOY

MNI: US JUL PHILADELPHIA FED MFG INDEX 13.9

MNI: US JOBLESS CLAIMS +20K TO 243K IN JUL 13 WK

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Futures Probe This Week's Low

GILTS
Bank Of England (BOE) Market NewsHomepageBond Market NewsBulletMarketsFixed Income Bullets

Futures probe the week’s low after firmer-than-expected GDP data and yesterday’s hawkish BoE rhetoric.

  • More meaningful support comes in ~30 ticks below, at the July 4 low (97.32). Our technical analyst continues to highlight a short-term bearish theme, despite the recent rally.
  • Cash gilt yields 3.0-4.5bp higher across the curve, 10s lead the move.
  • SONIA futures are 1.0-4.5 lower, at/just off lows.
  • BoE-dated OIS shows 11bp of cuts through August and 44.5bp through year end. Contracts through mid-’25 are 1-3bp more hawkish on the day.
  • Impending U.S. CPI data presents the major risk event of the day.
97 words

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.

Futures probe the week’s low after firmer-than-expected GDP data and yesterday’s hawkish BoE rhetoric.

  • More meaningful support comes in ~30 ticks below, at the July 4 low (97.32). Our technical analyst continues to highlight a short-term bearish theme, despite the recent rally.
  • Cash gilt yields 3.0-4.5bp higher across the curve, 10s lead the move.
  • SONIA futures are 1.0-4.5 lower, at/just off lows.
  • BoE-dated OIS shows 11bp of cuts through August and 44.5bp through year end. Contracts through mid-’25 are 1-3bp more hawkish on the day.
  • Impending U.S. CPI data presents the major risk event of the day.