MNI RIKSBANK WATCH: On Hold, Sees First Cut In May Or June

MNI: Canadian Economy Grows At The Fastest Pace In A Year

MNI China Daily Summary: Thursday, March 28

MNI INTERVIEW: Central Bank Credibility To Be Tested In 2024

MNI BRIEF: China Steel Demand Low In Q1

MNI BRIEF: China Sovereign Fund Continues To Purchase ETFs

Growth Ended 2023 Very Strong, With GDI Impressing

US EIA:NAT GAS STORAGE -36 BCF TO 2,296 BCF MAR 22 WK

UMich Survey: Consumers Think Inflation Has "Truly Turned A Corner"

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Long-End Underperforms

GILT SUMMARY

Gilts have whipsawed today. Having initially sold off soon after the open, gilts rallied into the late morning before selling off again through the afternoon. The long-end of the curve has underperformed while the very short end has remained well anchored above yesterday's close.

  • Yields at the long- and very long-end are now 3bp higher on the day. Last yields: 2-year 0.1045%, 5-year 0.3835%, 10-year 0.7761%, 30-year 1.2511%.
  • The Sep 21 gilt future trades at 127.51, near the middle of the day's range (L: 127.30 / H: 127.69).
  • The BoE purchased GBP1.147bn of long-dated gilts with offer-to-cover 3.22x.
  • Data published earlier in the day showed better than expected public borrowing data for May.
  • Focus tomorrow shifts to the preliminary PMI prints for June, which the consensus expecting a slight downtick across the services and manufacturing sectors, although still indicating a strong recovery.
Homepagemarkets-real-timeBulletMarketsFixed Income Bullets

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.