Free Trial

Gilts are trading steady to modestly...>

GILT SUMMARY
GILT SUMMARY: Gilts are trading steady to modestly lower with the yield curve
steepening slightly as the ultra long-end underperforms the rest of the curve,
as markets digest latest round of Brexit talks and a more conciliatory tone from
the US on trade with the EU.
- 2-yr Gilt yield is +0.5bp at 0.766%, 5-yr -0.1bp at 1.028%, 10-yr +0.7bp at
1.288%, 30-yr +0.7bp at 1.735% and 50-yr +1.4bp at 1.583% according to Tradeweb
- The EU's chief negotiator has ruled out allowing the UK to collect customs
duties on its behalf, saying that it could not delegate "excises duty collection
to a non-member". Although both RAAB and Barnier said that progress had been
made, "obstacles" remain in being able to reach a deal by October. While this
morning Barnier was quoted as saying that UK white paper proposals cause the EU
serious problems.
- There has been very little action in Short Sterling so far with the strip
steady to 1 tick lower with the exception of Dec18 contract which is 1 tick up 
- With a dearth of UK data or official speakers scheduled for today attention is
on advance US Q2 GDP which everyone seems to be getting very excited about.

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.