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Recovering Alongside Tsys

GILTS
Bank Of England (BOE) Market NewsHomepageBond Market NewsBulletMarketsFixed Income Bullets

Gilts follow U.S. Tsys away from lows, meaning that bears have not been able to test initial support in gilt futures (95.36). The contract recovers to ~95.80 after basing at 95.42.

  • The bearish technical backdrop remains intact.
  • Benchmark yields are flat to 1bp higher, light bear flattening intact on the broader curve on the day.
  • 10+-Year yields failed to register fresh ’24 highs during this morning’s sell off.
  • SONIA futures tick higher alongside gilts, to last show -1.5 to +1.5 through the blues.
  • BoE-dated OIS also joins the move, last showing ~39bp of ’24 cuts.
  • Local headline flow has been light since this morning’s 10-Year gilt auction from the DMO.
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Gilts follow U.S. Tsys away from lows, meaning that bears have not been able to test initial support in gilt futures (95.36). The contract recovers to ~95.80 after basing at 95.42.

  • The bearish technical backdrop remains intact.
  • Benchmark yields are flat to 1bp higher, light bear flattening intact on the broader curve on the day.
  • 10+-Year yields failed to register fresh ’24 highs during this morning’s sell off.
  • SONIA futures tick higher alongside gilts, to last show -1.5 to +1.5 through the blues.
  • BoE-dated OIS also joins the move, last showing ~39bp of ’24 cuts.
  • Local headline flow has been light since this morning’s 10-Year gilt auction from the DMO.