MNI: PBOC Net Injects CNY90.3 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.1896 Tues; -1.71% Y/Y

CANADA TO PUBLISH FISCAL UPDATE ON DEC. 16

MNI BRIEF: Inflation Expectations Tick Higher - NY Fed

MNI BRIEF: Mexico Inflation Down To 4.55% In November

MNI BRIEF: China Passenger Car Sales Up In November Y/Y

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

EZ/UK T-Bill Calendar: Spain, Belgium Auction on Tuesday

MNI:US OCT WHOLESALE INV 0.2%; SALES -0.1%

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: Initial Weakness Fades

GILTS
CEEMEABulletUKGlobalFixed Income BulletsRegionMarkets

Spill over from bids in wider core global FI markets and weakness in oil counters initial selling seen at the gilt open.

  • Futures printed through initial support, hitting 98.51, before recovering to ~98.70 at typing.
  • The corrective technical cycle has extended in recent days.
  • Initial resistance seen at the 20-day EMA (99.82)
  • Conversely, today’s low protects key support at the Sep 2 low (98.11).
  • Yields little changed on the day.
  • Readthrough into fiscal policy from PM Starmer suggesting that he wants government spending to catalyse private investment, while noting that he has “always thought that we should borrow to invest” likely behind the early dip.
  • SONIA futures & BoE pricing around levels flagged pre-open, little changed on the day, ~40bp of cuts priced through year-end.
  • Nothing of note on the UK calendar today, which will leave focus on central bank comments from the ECB & Fed, as well as the U.S. data.
144 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.

Spill over from bids in wider core global FI markets and weakness in oil counters initial selling seen at the gilt open.

  • Futures printed through initial support, hitting 98.51, before recovering to ~98.70 at typing.
  • The corrective technical cycle has extended in recent days.
  • Initial resistance seen at the 20-day EMA (99.82)
  • Conversely, today’s low protects key support at the Sep 2 low (98.11).
  • Yields little changed on the day.
  • Readthrough into fiscal policy from PM Starmer suggesting that he wants government spending to catalyse private investment, while noting that he has “always thought that we should borrow to invest” likely behind the early dip.
  • SONIA futures & BoE pricing around levels flagged pre-open, little changed on the day, ~40bp of cuts priced through year-end.
  • Nothing of note on the UK calendar today, which will leave focus on central bank comments from the ECB & Fed, as well as the U.S. data.