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Recovering From Lows, U.S. Data Front & Centre In Recent Trade

GILTS

Cross-market feedthrough around U.S data has driven gilts over the last couple of sessions.

  • Futures moved to fresh session lows in the wake of the PPI print, finding a base at 97.05, before rebounding to trade around 97.50 last.
  • Softer-than-expected headline U.S. UoM sentiment readings provided some bullish counter.
  • We have highlighted that the bear threat in the contract remains intact, but those of a bearish disposition need to take out the Feb 13 low/bear trigger (96.81) to seize further technical control.
  • Cash gilt yields are 3.5-4.5bp higher across the curve, with the belly under the most pressure.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
HomepageBond Market NewsBank Of England (BOE) Market NewsBulletMarketsFixed Income Bullets
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
HomepageBond Market NewsBank Of England (BOE) Market NewsBulletMarketsFixed Income Bullets

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