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Off Session Lows, Curve Bull Flattens On Day

GILTS

We haven’t seen much in the way of gilt-specific matters to move the market in the last few hours, leaving the early range in futures intact, last +40 just above 97.40, ~10 ticks shy of best levels.

  • Cash gilt yields last show flat to 4.5bp firmer with the curve flattening.
  • SONIA futures still see some light twist flattening on the day given the BoE’s continued higher-for-longer narrative, while BoE-dated OIS remains little changed.
  • Fiscal focus remains evident ahead of tomorrow’s Autumn Statement.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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