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Fading Off Key Resistance

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FED Reverse Repo Operation

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Bonds Lead Post-Auction Sell-Off

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Review 10Y Auction: 3.3Bp Tail, Tsys Sell-Off

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Markets stabilizing a little - but huge moves on the day so far

UK

After hugely volatile opens, UK markets are showing some signs of settling a little, but FI still hugely lower than Friday's close and GBP a long way off its intraday lows, but still around 1.5% weaker on the day vs both USD and EUR.

  • SONIA Sep-22 down 46.3 ticks today at 96.67 - up from a low of 96.59.
  • SONIA June-23 down 44.0 ticks today at 94.18 - up from a low of 94.11.
  • 2y yields up 44.2bp today at 4.369% - but down 10.8bp from their peak of 4.476%
  • 10y yields up 24.5bp today at 4.069% - down 12.1bp from peak of 4.191%
  • 30y yields up 17.0bp today at 4.206% - from 15.8bp from peak of 4.364%
  • 2s10s down -19.6bp today at -29.9bp, 10s30s down -7.5bp today at 13.7bp
  • GBPUSD at 1.0695 at writing - down 1.6% from Friday's close of 1.0859 but up from the intraday low of 1.0350.
  • EURGBP at 0.9060 at writing - up 1.5% from Friday's close of 0.89293 but down from the peak of 0.9266.
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After hugely volatile opens, UK markets are showing some signs of settling a little, but FI still hugely lower than Friday's close and GBP a long way off its intraday lows, but still around 1.5% weaker on the day vs both USD and EUR.

  • SONIA Sep-22 down 46.3 ticks today at 96.67 - up from a low of 96.59.
  • SONIA June-23 down 44.0 ticks today at 94.18 - up from a low of 94.11.
  • 2y yields up 44.2bp today at 4.369% - but down 10.8bp from their peak of 4.476%
  • 10y yields up 24.5bp today at 4.069% - down 12.1bp from peak of 4.191%
  • 30y yields up 17.0bp today at 4.206% - from 15.8bp from peak of 4.364%
  • 2s10s down -19.6bp today at -29.9bp, 10s30s down -7.5bp today at 13.7bp
  • GBPUSD at 1.0695 at writing - down 1.6% from Friday's close of 1.0859 but up from the intraday low of 1.0350.
  • EURGBP at 0.9060 at writing - up 1.5% from Friday's close of 0.89293 but down from the peak of 0.9266.