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Gilt/Bund spread widens by more than 12bps

BONDS
  • UK 30yr Yield did find some resistance at the 50% retracement from the fall after the BoE intervention. It printed a 4.397% vs 4.382% (50% retrace).
  • UK 20yr printed a 4.485% vs 4.495% (50% retrace).
  • Despite some bounce in Futures, Gilt remains under pressure, and the Gilt/Bund spread is wider by over 12bps, and above 210bps.
  • Next resistance is seen towards 215bps.

Chart source: MNI/Bloomberg

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