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Off Yesterday's Highs, PMIs Due

GILTS

Gilts off yesterday’s highs, with similar moves seen in wider core global bond markets.

  • Futures flat at 100.04. Bullish technical structure remains in play, resistance at last week’s high (100.80), support at the 20-day EMA (99.59).
  • Yields ~1bp higher across the curve.
  • Technicals across broader benchmark yields add to the bullish gilt picture.
  • Flash PMIs due today, post-election bounce in sentiment to be reassessed.
  • Firmer labour market & inflation components could reduce pricing of further BoE easing through year end.
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Gilts off yesterday’s highs, with similar moves seen in wider core global bond markets.

  • Futures flat at 100.04. Bullish technical structure remains in play, resistance at last week’s high (100.80), support at the 20-day EMA (99.59).
  • Yields ~1bp higher across the curve.
  • Technicals across broader benchmark yields add to the bullish gilt picture.
  • Flash PMIs due today, post-election bounce in sentiment to be reassessed.
  • Firmer labour market & inflation components could reduce pricing of further BoE easing through year end.