Free Trial

In the latest in the long running......>

GILT SUMMARY
GILT SUMMARY: In the latest in the long running Brexit saga, UK PM Theresa May
has set out the government's post-Brexit immigration plan. In a sign that the
acrimonious rhetoric on both sides has yet to die down, UK Foreign Minister
Jeremy Hunt has claimed that the UK is 'very angry' with the EU's approach to
negotiations.
- Gilts rallied in early trading, but are now holding in the middle of the day's
range. The benchmark 2-year gilt trades at 0.799% and the 10-year at 1.539%.
- The curve has steepened slightly with the 2s10s spread widening to 73.4bps
from a low of 73.0bps.
- Inflation breakevens are inching higher with the 5-year benchmark trading up
to 3.240% from a low of 3.216%.
- Short sterling futures are 1.0-3.0 ticks higher. The short sterling option
flow has been light this morning.
- The UK construction PMI for September came in slightly below expectations at
52.1 vs 52.99 survey.

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.