MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

MNI China Daily Summary: Friday, December 13

MNI BRIEF: PBOC To Curb Any Yuan Overshot : PBOC Zou

CHINA YTD NEW LOANS CNY17.1 TRLN VS MEDIAN CNY17.5 TRLN: PBOC

MNI: PBOC Net Injects CNY14.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Fri; -1.22% Y/Y

MNI: EUROZONE OCT IP +0% M/M, -1.2% Y/Y

MNI: SPAIN NOV HICP +0% M/M, +2.4% Y/Y

MNI: FRANCE NOV HICP -0.1% M/M, +1.7% Y/Y

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: Away From Yesterday's Low

GILTS
CEEMEABulletUKGlobalFixed Income BulletsRegionMarkets

Gilt futures are a little firmer this morning but still trade in the lower end of yesterday’s range, +17 at 99.93.

  • A pullback in equities will be providing some support.
  • The bull cycle remains in play for gilt futures, with the move away from Tuesday’s high representing a correction at this stage.
  • Initial support seen at yesterday’s low (99.55), which protects the September 9 low (99.29). Initial resistance at the Sep 18 high (101.06).
  • Cash gilt yields are unchanged to 2bp lower, curve bull flattens.
  • Public finance data for August revealed another round of higher-than-expected government borrowing, with risks already tilted to a move higher in the gilt issuance remit that will accompany the Autumn Budget.
  • Retail sales data was firmer-than-expected, although our macro team notes that the volatile nature of the data shouldn’t impact the BoE, with virtually expectations for the next rate cut to come in November.
  • BoE’s Mann will speak at 09:30, we will provide further colour on her appearance shortly.
157 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.

Gilt futures are a little firmer this morning but still trade in the lower end of yesterday’s range, +17 at 99.93.

  • A pullback in equities will be providing some support.
  • The bull cycle remains in play for gilt futures, with the move away from Tuesday’s high representing a correction at this stage.
  • Initial support seen at yesterday’s low (99.55), which protects the September 9 low (99.29). Initial resistance at the Sep 18 high (101.06).
  • Cash gilt yields are unchanged to 2bp lower, curve bull flattens.
  • Public finance data for August revealed another round of higher-than-expected government borrowing, with risks already tilted to a move higher in the gilt issuance remit that will accompany the Autumn Budget.
  • Retail sales data was firmer-than-expected, although our macro team notes that the volatile nature of the data shouldn’t impact the BoE, with virtually expectations for the next rate cut to come in November.
  • BoE’s Mann will speak at 09:30, we will provide further colour on her appearance shortly.