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More Reluctant To Pare Losses

GILTS

Gilts have been a little more reluctant than both U.S. Tsys and Bund equivalents when it comes to bouncing from session cheaps, with sticky BoE-dated OIS pricing after the hawkish adjustment flagged earlier and related weakness in the front end of the Gilt curve noted. That leaves the major Gilt benchmarks running 1-11bp cheaper, with the 2-/10-Year yield curve showing through previous inverted cycle extremes earlier in the day, before a slight retracement from session lows. Gilt futures run ~45 ticks lower on the day, less than 10 ticks off worst levels.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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