Free Trial

Gap Lower Filled, Futures Briefly Print At Unchanged Levels

GILTS

The opening gap lower in gilt futures has been filled, with bulls pushing the contract to highs of 92.38, which is in line with yesterday’s settlement level, before a fade to 92.25.

  • The failure of bears to breach technical support in futures, coupled with some weakness in crude oil futures and the broader rebound in core global FI markets, have been the driving factors observed during the recovery from session cheaps.
  • PM Sunak’s Conservative Party conference comments haven’t been a needle mover for gilts, with all of the comments outlined thus far expected and/or non-market moving.
  • Cash gilts run 0.5-3.0bp richer, with the wings outperforming intermediates.
  • SONIA futures are +1.5 to -3.5 through the blues, with the strip twist steepening.
  • BoE-dated OIS contracts are little changed to a couple of bp softer.
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.