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/ GILTS: Some stabilisation (albeit at a lower level)

STIR
  • Markets continue to see fast moves this morning.
  • Money markets seem to be stabilising somewhat now. Short sterling now down 8.0 ticks in the Mar22 and Jun22 contracts (from a peak of 10 ticks lower).
  • Gilt futures at the time of writing are down 37 ticks at 123.62 (hit a low of 123.55 just after the open). Our technical analyst looks for the next support at 123.16 - the low of Feb 27, 2019 on the continuation chart.
  • Euribor futures still down 4.0-4.5 ticks in some Reds/Greens/Blues but Dec22 now down 2.5 ticks (from 4.0 ticks earlier).

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