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Lower With Tsys

GILTS
HomepageBond Market NewsBulletMarketsFixed Income Bullets

As noted in an earlier Treasury bullet, fresh selling in U.S. bonds weighed on gilts, allowing futures to move to fresh session lows of 97.60.

  • Little in the way of headline drivers apparent at the time, leaving most to point to a mix of cross-asset spill over and swelling $IG issuance.
  • Key support at 97.23 remains some way off, leaving the bullish technical backdrop in play for the contract. A breach of that level would be damaging to the bullish picture.
  • Gilt yields are 3-4bp higher across the curve, with a light bear steepening bias.
  • 2s10s and 5s30s curves stick comfortably within their recent ranges.
  • UK headline flow remains muted.
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As noted in an earlier Treasury bullet, fresh selling in U.S. bonds weighed on gilts, allowing futures to move to fresh session lows of 97.60.

  • Little in the way of headline drivers apparent at the time, leaving most to point to a mix of cross-asset spill over and swelling $IG issuance.
  • Key support at 97.23 remains some way off, leaving the bullish technical backdrop in play for the contract. A breach of that level would be damaging to the bullish picture.
  • Gilt yields are 3-4bp higher across the curve, with a light bear steepening bias.
  • 2s10s and 5s30s curves stick comfortably within their recent ranges.
  • UK headline flow remains muted.