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Off Lows

GILTS

Gilt futures firm to print in line with late Thursday levels, last -15 at 97.46.

  • Cash gilt yields are 1bp higher to 1bp lower on the day.
  • SONIA futures follow gilts away from lows to last show +0.25 to -3.5 through the reds.
  • Moves come as wider core global FI markets firm from lows.
  • A delayed reaction to the downtick in crude oil futures may be a factor here, with fresh session lows registered in fairly recent oil trade.
  • Elsewhere geopolitical headline flow re: pre-flagged U.S. sanctions on Russia & source reports are noted.
  • On top of that, short positioning/grab for yield may also be factoring in.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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