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GILTS: GBP 5y5y Off Lows Alongside Crude & Dovish STIR Repricing

GILTS
CEEMEABulletUKGlobalFixed Income BulletsRegionMarkets

GBP 5y5y inflation-linked swaps are ~5bp off cycle lows, last ~3.17%.

  • The recovery from last week’s lows in crude oil futures has aided that move, as has spill over from the dovish repricing seen on the GBP & USD STIR strips.
  • When it comes to current/impending rate cutting cycles, global central banks will look to balance fears of reigniting inflation against the need to support faltering growth/looser labour markets.
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GBP 5y5y inflation-linked swaps are ~5bp off cycle lows, last ~3.17%.

  • The recovery from last week’s lows in crude oil futures has aided that move, as has spill over from the dovish repricing seen on the GBP & USD STIR strips.
  • When it comes to current/impending rate cutting cycles, global central banks will look to balance fears of reigniting inflation against the need to support faltering growth/looser labour markets.