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GILTS: Goldman Recommend 10s30s Flatteners

GILTS
CEEMEABulletUKMarketsFixed Income Bullets

Goldman Sachs write “given that the current macro data continues to provide support for Gilts by a lower path for underlying inflation, a weakening labour market and gradual BoE cuts (including at its meeting this week), backstopped by the potential for further fiscal adjustment if needed, we remain positive on gilts and expect further reductions in long-end term premium.”

  • They think “10s30s has lagged the rally in UK rates, and recommend 10s30s flatteners.”
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Goldman Sachs write “given that the current macro data continues to provide support for Gilts by a lower path for underlying inflation, a weakening labour market and gradual BoE cuts (including at its meeting this week), backstopped by the potential for further fiscal adjustment if needed, we remain positive on gilts and expect further reductions in long-end term premium.”

  • They think “10s30s has lagged the rally in UK rates, and recommend 10s30s flatteners.”