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Holding Lower

GILTS

Gilts also hold lower, spreads to Bunds little changed across the curve.

  • Typically hawkish comments from Fed’s Schmid add to the weight derived from this morning’s UK & Eurozone PMI data.
  • Futures last -32 at 99.72. Lows of 99.68 seen thus far, bears still unable to test initial support at the 20-day EMA (99.59).
  • Cash gilt yields 3-4bp higher.
  • Wider macro matters are set to dominate for the remainder of today, with tomorrow’s address from BoE Governor Bailey providing the next UK risk event.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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