Free Trial

Giving Back Early Gains

GILT SUMMARY

Having sharply bull flattened earlier in the session, gilts have given back some of the gains.

  • Cash yields are now within 2bp of yesterday's close. Last yields: 2-year -0.0563%, 5-year -0.0629%, 10-year 0.2188%, 30-year 0.7612%.
  • The Dec-20 gilt future trades at 136.12, towards the bottom end of the day's range (L: 136.07 / H: 136.33).
  • The DMO earlier sold GBP2.5bn of the 0.375% Oct-30 Gilt with a further GBP584.999mn taken up through the PAOF.
  • The BoE bought GBP1.473bn of medium-term gilts with an offer-to-cover ratio of 1.85x.
  • Tomorrow will see the publication of money supply, consumer credit and mortgage approval data for September, which are unlikely to be market moving.
  • Although the focus tomorrow will be on the ECB meeting, no material change in policy is expected and the gilt market should be unaffected.

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.