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Markets starting to stabilise

UK
  • Some stability appearing to resume in UK markets now
  • Gilt futures back to flirting with 100 after moving as low as 98.68 (they closed yesterday at 101.90).
  • Gilt 10s30s curve had hit a low of 18.7bp, it's now back up at 21.1bp. We ended last week at 30.9bp.
  • Gilt 2s10s inverted at -15.8bp (hit a low of 16.8bp earlier today). Today's low was still above yesterday's.
  • Jun-24 SONIA future at 94.74 - down 61.5 ticks on the day but had hit a low of 94.645 ticks earlier.
  • Dec-22 SONIA future now down 25.5 ticks at 95.845 - 2.5 ticks off the day's low.
  • GBPUSD off the low of 1.1077 at 1.1103 at writing - down from yesterday's close of 1.1261.
  • EURGBP through all of this has seen surprisingly small moves in comparison - up 59 pips on the day at 0.8799 at writing.

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