July 10, 2024 07:27 GMT
Rally A Little, Monday’s High In Futures Eyed
GILTS
Gilts rally at the open, with spill over from solid demand at yesterday’s 3-Year Tsy auction and a dovish RBNZ outcome providing support.
- Futures +48 at 98.16. Initial resistance at the July 8 high (98.27), a break above there would threaten the bearish short-term outlook.
- Gilt yields are 2-4bp lower, curve a touch flatter.
- A second-round bid comes into STIRs alongside the gilt rally, SONIA futures flat to +5.5.
- Comments from BoE’s Pill & Mann will headline today.
- We will provide greater colour on those appearances shortly.
87 words