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(Z2) Drifts Lower at Beginning of Week

AUSSIE BONDS

Firmer & Flatter, Futures Away From Overnight Peaks

AUSSIE 10-YEAR TECHS

(Z2) Remains Vulnerable

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LONDON (MNI)

UK house prices extended their winning streak into October, data from the Nationwide published Friday showed, with the average price across the four nations up by 5.8% y/y. Robert Gardner, the lender's Chief Economist, said the gains came despite a slowing of the economy with market activity remaining 'robust'.

However, Gardner said the outlook is highly uncertain, dependant largely on how the pandemic and measures to contain it and to mitigate against the economic impact evolve. However, "behavioural shifts as a result of Covid-19 may provide support for housing market activity, while the stamp duty holiday will continue to provide a near term boost by bringing purchases forward," he added.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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