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Gilts continue to drift lower, Bunds remain close to day's lows

BONDS
  • Gilt futures continue to drift lower, having just hit a new intraday low of 104.37, around 140 ticks below Friday's close, but still around 150 ticks above Wednesday's low of 102.84.
  • 2-year gilt yields also continue to rise, now up around 14bp on the day at 3.351%. This has seen the 3.339% level cleared which marks the 61.8% retracement of Wednesday's high in yields to Friday's low.
  • Bund futures are now around 20 ticks higher than they were 90 minutes ago when they hit a low of 136.54, but they are still around 120 ticks lower on the day.
  • Schatz yields are around 14bp higher on the day at 2.532%, but have now reached the same 61.8% retracement of Wednesday's high in yields to Friday's low which comes in at 2.557%.
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