May 10, 2024 14:14 GMT
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.
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