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Now Softer On The Day

GILTS

{GB} GILTS: Gilts have continued to move away from firmest levels of the day.

  • Futures recently hit fresh session lows of 97.89, -6 on the day.
  • Cash gilt yields are 1.5-3.5bp higher, as the curve flattens.
  • All of the late Friday/Early Monday rally has been reversed.
  • SONIA futures are +0.25 to -4.5, with the reds under the most pressure.
  • BoE-dated OIS shows ~64bp of cuts for ’24.
  • Nothing to highlight in terms of UK-specific news, with the growing global IG issuance pipeline seemingly weighing.
  • Familiar ranges remain intact in the major UK FI markets.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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