Free Trial
STIR

BLOCK, Jun'23 SOFR Put Spd

STIR

Implied Hikes Adjust Higher Post ISM

MNI EXCLUSIVE

Norwegian Economist Interviewed on Housing

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Giving back some of yesterday's CPI rally

BONDS
  • Core fixed income has been drifting lower this morning, but remains well above pre-US CPI levels. The biggest moves have been seen in Treasury futures, but cash USTs are closed today for Veterans Day.
  • The gilt curve has flattened today after the BOE announced after the close yesterday that it would commence sales of long-dated and index-linked gilts on 29 November (not the QE stock, but the "temporary" purchases from October). We have also received UK activity data which was mixed - Q3 GDP was better than expected but still contractionary - and September's data is hard to interpret with the extra bank holiday for the Queen's funeral.
  • Looking ahead we will hear from BOE's Haskel and Tenreyro today as well as a number of ECB speakers.
  • On the data calendar, the highlight will be Michigan inflation expectation data.
  • TY1 futures are down -0-2 today at 112-14+ with 10y UST yields unch at 3.814% and 2y yields unch at 4.334%.
  • Bund futures are down -0.66 today at 139.84 with 10y Bund yields up 3.9bp at 2.044% and Schatz yields up 6.8bp at 2.045%.
  • Gilt futures are down -0.29 today at 104.89 with 10y yields unch at 3.286% and 2y yields down -1.0bp at 3.045%.
198 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.
  • Core fixed income has been drifting lower this morning, but remains well above pre-US CPI levels. The biggest moves have been seen in Treasury futures, but cash USTs are closed today for Veterans Day.
  • The gilt curve has flattened today after the BOE announced after the close yesterday that it would commence sales of long-dated and index-linked gilts on 29 November (not the QE stock, but the "temporary" purchases from October). We have also received UK activity data which was mixed - Q3 GDP was better than expected but still contractionary - and September's data is hard to interpret with the extra bank holiday for the Queen's funeral.
  • Looking ahead we will hear from BOE's Haskel and Tenreyro today as well as a number of ECB speakers.
  • On the data calendar, the highlight will be Michigan inflation expectation data.
  • TY1 futures are down -0-2 today at 112-14+ with 10y UST yields unch at 3.814% and 2y yields unch at 4.334%.
  • Bund futures are down -0.66 today at 139.84 with 10y Bund yields up 3.9bp at 2.044% and Schatz yields up 6.8bp at 2.045%.
  • Gilt futures are down -0.29 today at 104.89 with 10y yields unch at 3.286% and 2y yields down -1.0bp at 3.045%.