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MNI Gilt Week Ahead: Brexit, Bailey and Pill in focus

  • The main talking point in the UK this week will be the new Brexit deal that is expected to be announced this afternoon following a meeting in Windsor today between PM Sunak and EC President von der Leyen. The meeting is expected to take place “late lunchtime” according to Politico with a joint press conference likely late afternoon, before the deal is outlined to parliament later today.
  • The deal is unlikely to be immediately market moving, with the greater risk being that political uncertainty increases in the UK once again if Sunak’s backbenchers fail to get onboard.
  • Turning to economic events, there will be more focus this week on MPC speeches than data. We discuss the key speeches to watch this week in more detail in the publication.
  • We also look at the change in market pricing recently, as markets have moved to pricing in almost 80bp of further BOE hikes this year.
For the full document including auction previews for the week ahead see:

GiltWeekAhead20230227.pdf

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