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SONIA A Touch Cheaper As Bonds Tick Lower

STIR

SONIA futures look to the downtick in core global FI markets in early European dealing. That leaves contracts on the strip running flat to 2.5bp cheaper through the blues in pre-gilt trade.

  • Local headline flow has been fairly limited overnight, with the Halifax house price index revealing continued headwinds for the housing market, although worries re: that space are well-documented.
  • BoE-dated OIS is little changed to a couple of bp firmer as the strip steepens at the margin.
  • The local docket is essentially empty ahead of the weekend.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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