June 26, 2024 14:58 GMT
Futures Threaten Clean Break Of Next Support
GILTS
Bears push gilt futures through next support at the 20-day EMA (97.97), although the break remains limited, with lows of 97.93 seen.
- Next meaningful support below here is seen at the June 12 low (96.84), although there may be some intermediate support at the June 4 high (97.86).
- Cash gilt yields are 4.5-6.0bp higher, with the 7- to 10-Year zone leading the move.
- Broader core global FI weakness remains at the fore, with UK-centric news flow very limited since this morning’s gilt auction.
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