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GILTS: Resistance Area In Futures Holds Again

GILTS

Previously covered resistance (100.20/21) caps the latest rally in gilt futures, which came alongside a bid in Tsys.

  • A move away from lows in crude oil futures also helps limit the move.
  • Contract last 100.14.
  • Yields ~1bp higher across the curve.
  • SONIA futures -2.0 to +2.0.
  • BoE-dated OIS continues to price close to 45bp of cuts through year end.
  • Nothing on the monetary policy front in Breeden’s pre-released remarks that crossed at midday.
  • U.S. risk events and tomorrow’s UK economic activity data now eyed.

BoE Meeting

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Previously covered resistance (100.20/21) caps the latest rally in gilt futures, which came alongside a bid in Tsys.

  • A move away from lows in crude oil futures also helps limit the move.
  • Contract last 100.14.
  • Yields ~1bp higher across the curve.
  • SONIA futures -2.0 to +2.0.
  • BoE-dated OIS continues to price close to 45bp of cuts through year end.
  • Nothing on the monetary policy front in Breeden’s pre-released remarks that crossed at midday.
  • U.S. risk events and tomorrow’s UK economic activity data now eyed.

BoE Meeting

Keep reading...Show less