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Off Best Levels, Wider Bond Moves Still Eyed

GILTS

Gilt futures tick away from session highs, with Tsys cheapening a little (in the end) post-data.

  • That leaves the contract +30, just below 97.20, 35-40 ticks away from best levels.
  • Cash gilt yields are 2.0-7.5bp lower on the day, with 5s outperforming on the curve.
  • SONIA futures last show flat to 10.5bp firmer on the day, with the greens outperforming.
  • BoE-dated OIS is little changed to 5bp softer through ’24 MPC comments.
  • Wider core global FI richening has been more important than higher-for-longer reiterations from BoE Governor Bailey today.
  • In local news, an IPSOS poll noted that support for Scottish independence had ticked up to 54%.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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