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Futures Recover From Friday’s Late Low

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

Gilt futures recover from Friday’s late lows before fading from best levels to trade +12 at 97.77 (97.70-93 range).

  • Initial resistance is seen at Friday’s high (98.29), while initial support comes in at the 20-day EMA (97.19)
  • Cash gilt yields are 1.5bp lower across the curve.
  • SONIA futures and BoE dated OIS are mostly little changed on the day.
  • China data released over the weekend and sizeable backflow payments in EGBs seem to support wider core global FI markets in early London trade.
  • The latest reduction in the size of BoJ bond purchases had help cap any rallies in Asia hours.
  • Lower tier wage survey data and weekend news flow covering political posturing from PM Sunak won’t be impacting GBP rates markets.
  • The BoE will conduct GBP800mn of short maturity APF gilt sales this afternoon.
  • Tomorrow's labour market report provides the first UK release of note this week, although recent BoE-speak has pointed towards a greater focus on services inflation than wage metrics.
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Gilt futures recover from Friday’s late lows before fading from best levels to trade +12 at 97.77 (97.70-93 range).

  • Initial resistance is seen at Friday’s high (98.29), while initial support comes in at the 20-day EMA (97.19)
  • Cash gilt yields are 1.5bp lower across the curve.
  • SONIA futures and BoE dated OIS are mostly little changed on the day.
  • China data released over the weekend and sizeable backflow payments in EGBs seem to support wider core global FI markets in early London trade.
  • The latest reduction in the size of BoJ bond purchases had help cap any rallies in Asia hours.
  • Lower tier wage survey data and weekend news flow covering political posturing from PM Sunak won’t be impacting GBP rates markets.
  • The BoE will conduct GBP800mn of short maturity APF gilt sales this afternoon.
  • Tomorrow's labour market report provides the first UK release of note this week, although recent BoE-speak has pointed towards a greater focus on services inflation than wage metrics.