Free Trial

Price Signal Summary - Gilts Weaken As The Downtrend Accelerates

OUTLOOK
  • In the FI space, Bund futures maintain a bearish theme and the contract is trading lower. Support at 134.99, the May 10 low, has been breached and this strengthens the bearish theme, paving the way for a continuation near-term. The focus is on 133.64 next, the Apr 28 low. Note that key support lies at 133.10, the Apr 19 low. On the upside, initial resistance is 135.32, the 20-day EMA.
  • Gilt futures are lower again today. This week’s sell-off marks an acceleration of the bear cycle. The contract has cleared support at 99.73, the Apr 19 low, and 99.20, the Feb 28 low and a key support level. This confirms a resumption of the downtrend and signals scope for weakness towards 98.15 next, the Oct 24 2022 low (cont). Initial firm resistance is 99.73.

To read the full story

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.