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Now Little Changed After North American Data

GILTS

North American data keeps gilts on the defensive as the pullback from session highs extends.

  • A firmer-than-expected Canadian labour market report and a move higher in U.S. UoM inflation expectations were seen during the past couple of hours.
  • The move lower in the headline UoM sentiment reading provides some counter.
  • Futures print as low as 97.77, before trading back to little changed on the day around 97.85.
  • Tuesday’s low (97.48) protects more meaningful support at the 20-day EMA (97.07).
  • Cash gilt yields are now little changed across the curve.
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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