October 04, 2024 14:06 GMT
GILTS: Sell Off Extends On NFPs
GILTS
Gilts extended their pre-NFP sell off following the data, with strong underlying readings seen across almost all areas of the survey.
- Futures based at round number support of 97.00, while 10-Year gilt yields have registered the highest level seen since late July, adding over 15bp on the week.
- Gilt bears will now target the July 26 high (4.182%) in 10s.
- Futures have recovered from lows to last trade at 97.25, while yields are 6-13bp higher as the early bear flattening extends.
- Monthly economic activity data headlines next week’s limited UK calendar.
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