Free Trial

Off Lows, Reeves & Haskel Eyed

GILTS

Gilts recover from early lows as French political matters dominate early on Monday.

  • Futures +2 at 98.03. Friday’s high (98.11) protects the June 28 high (98.24). A clear break higher would put bulls in control after an early July pullback.
  • Cash gilt yields are 2bp lower to little changed, light steepening on the curve.
  • Pre-open lower tier data shouldn’t prevent BoE loosening over the coming months, but sticky wages in the REC survey will provide a source of caution.
  • Looking ahead, Chancellor Reeves will speak at 1030 BST.
  • Reeves is set to make kickstarting growth a "national mission," with housebuilding targets/goals also due to be outlined.
  • BoE’s Haskel will speak at 1715 BST (see “48bp Of '24 BoE Cuts Priced, Haskel Comments Due Later Today” - 0743BST for greater colour on that appearance).
  • The DMO has confirmed that a long gilt will be sold via syndication in September.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.