August 22, 2024 07:06 GMT
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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