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Lower In Wake Of U.S. Data

GILTS
Bank Of England (BOE) Market NewsHomepageBond Market NewsBulletMarketsFixed Income Bullets

UK FI markets once again prove susceptible to U.S. developments, with the firmer-than-expected U.S. Q1 ECI data providing the latest ‘hawkish’ input from across the Atlantic.

  • Gilt futures trade to fresh session lows as a result, printing as soft as 95.86.
  • Initial meaningful support seen at the April 25 low (95.36).
  • Cash gilt yields are 2-5bp higher on the day, with 5s leading the sell off.
  • 2s10s and 5s30s stick within recent ranges.
  • Weakness in crude futures is seen alongside the post-data USD bid. That may be limiting the sell off in wider core global FI markets at present.
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UK FI markets once again prove susceptible to U.S. developments, with the firmer-than-expected U.S. Q1 ECI data providing the latest ‘hawkish’ input from across the Atlantic.

  • Gilt futures trade to fresh session lows as a result, printing as soft as 95.86.
  • Initial meaningful support seen at the April 25 low (95.36).
  • Cash gilt yields are 2-5bp higher on the day, with 5s leading the sell off.
  • 2s10s and 5s30s stick within recent ranges.
  • Weakness in crude futures is seen alongside the post-data USD bid. That may be limiting the sell off in wider core global FI markets at present.