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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.
GILTS
We noted earlier this morning what a pivotal week this would be for UK markets. We have a quick look at where the gilt curve has been at key points in time.
- Comparing the gilt curve now to the end of 2021 shows that we have seen a near-parallel shift higher of around 15bp.
- The front-end of the gilt curve is higher than it was when the belly was at its peak in mid-October. This is largely because markets are pricing in a close to 90% probability of a February hike with Bank Rate at 1.25% by November (i.e. four 25bp hikes are fully priced in 2022).
- The belly and long-end of the curve are currently trading around half way between their end-2021 level and the 21 October peak curve level. This is around 45bp higher than the lows seen on 13 December, shortly before the December MPC hike.
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.
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