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Off Lows, Still Wider Vs. Peers

GILTS

{GB} GILTS: Gilts continue to hold wider vs. global peers, although recover from outright session lows. The previously flagged technical setup in futures remains intact as we head towards today’s major risk events (ECB decision & U.S. PPI).

  • Gilt futures -74 at 97.16 (96.82-97.51 range).
  • Cash yields are 4-7bp higher on the day, with the belly under the most pressure.
  • BoE pricing is off session extremes after the global central bank repricing and hawkish leaning comments from BoE’s Greene helped remove some rate cut premium.
  • SONIA futures last 1.0-13.5bp lower on the day.
  • BoE-dated OIS shows ~47.5bp of cuts vs. s little over 70bp heading into yesterday’s U.S. CPI release.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
Bank Of England (BOE) Market NewsHomepageBond Market NewsBulletMarketsFixed Income Bullets
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
Bank Of England (BOE) Market NewsHomepageBond Market NewsBulletMarketsFixed Income Bullets

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