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Gilts looking set to end Tuesday.......>

GILT SUMMARY
GILT SUMMARY: Gilts looking set to end Tuesday mixed with the 8-yr to 10-yr part
of the yield curve marginally outperforming as markets react to news wire
reports of resignation of Ireland's deputy PM, avoiding snap elections and
comments from Fed Chair nominee Jay Powell.
- There were concerns earlier that there would be snap elections in Ireland
potentially disrupting move forward in Brexit talks, however, this receded as
deputy PM Frances Fitzgerald resigned.
- Markets also hearing dovish signals from Fed Chair nominee Powell as he is
questioned at Senate confirmation hearing -- wages to do not point to
over-heating economy.
- Swap flow has been relatively thin with a Stg100mln receiver in 10Y swaps and
a Stg49.9k DV01 5Y-10Y flattener the stand out trades today.
- 2-yr Gilt yield is +0.2bp at 0.475%, 5-yr +0.5bp at 0.747%, 10-yr -0.3bp at
1.258% and 30-yr +0.5bp at 1.82% according to Tradeweb.
- Swap spreads are mixed with 5-yr 1.4bp tighter and 10-yr 1.4bp wider. While
5-yr and 10-yr breakevens are 1bp wider.
MarketsFixed Income Bullets
MarketsFixed Income Bullets

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