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Gilt/Bund spread widening by 3bps

GILTS
  • Gilts continue to be under pressure and leading EGBs lower this morning, although Europe is lagging, and Tnotes are totally unmoved.{r2}
  • Moves keeps the Pound bid, combined with the lower USD.
  • Next support for Gilts comes at 128.39 11th June high and recent breakout level
  • UK/Bund spread is now 3bps wider, and widest since 23/06, with resistance seen at that day's high 95.6006, now at 95.30


Chart source: Bloomberg

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