MNI BRIEF: Fed's Daly Says No 'Urgency' To Lower Rates

MNI BRIEF: Powell Says US Is 'Far' From Fiscal Dominance

MNI BRIEF: US Firms Wary of Tariff-Related Inflation - Fed

MNI NBP WATCH: Rates Held, Outlook Unchanged

MNI BRIEF: Barkin Aims For 'Somewhat Restrictive' Fed Rates

MNI China Daily Summary: Wednesday, Dec 4

MNI:AUSTRALIA OCT TRADE BALANCE A$+5953

EZ/UK Bond Supply Calendar: Spain, France Auction, UK Tender

US EIA: CRUDE OIL STOCKS EX SPR -5.07M TO 423.4M NOV 29 WK

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

GILTS: A Little Lower To Start, Inflationary Risks Eyed, Pill Due

GILTS
CEEMEABulletUKGlobalFixed Income BulletsRegionMarkets

Gilts weaker alongside peers.

  • Futures -24 at 94.07, contract well within yesterday’s range, trading 93.99-94.23 early today.
  • Initial support and resistance at 92.53/94.73, bearish technical theme intact.
  • Yields 1-3bp higher, curve flatter. Benchmark yields 9-16bp off October/November highs.
  • An uptick in Kantar supermarket grocery price inflation has been seen (up to +2.3% Y/Y from +2.0%).
  • This reading will get more attention than usual in the coming months given the growing NI costs of supermarkets post-Budget and potential for that to feed into higher food prices (supermarkets have already warned of those risks).
  • Comments from BoE’s Pill due shortly. See earlier STIR bullet for greater colour on the panel appearance.
  • On the supply front, GBP2.25bln of the 4.75bln Oct-43 gilt will be sold this morning.
117 words

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.

Gilts weaker alongside peers.

  • Futures -24 at 94.07, contract well within yesterday’s range, trading 93.99-94.23 early today.
  • Initial support and resistance at 92.53/94.73, bearish technical theme intact.
  • Yields 1-3bp higher, curve flatter. Benchmark yields 9-16bp off October/November highs.
  • An uptick in Kantar supermarket grocery price inflation has been seen (up to +2.3% Y/Y from +2.0%).
  • This reading will get more attention than usual in the coming months given the growing NI costs of supermarkets post-Budget and potential for that to feed into higher food prices (supermarkets have already warned of those risks).
  • Comments from BoE’s Pill due shortly. See earlier STIR bullet for greater colour on the panel appearance.
  • On the supply front, GBP2.25bln of the 4.75bln Oct-43 gilt will be sold this morning.