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Sticking To Early Ranges

GILTS

Gilt futures continue to wind within the range established in early London dealing, last -10 or so.

  • CashgGilts sit 1.5-3.0bp cheaper on the day.
  • Gilts remain the underperformer vs. core global FI counterparts in light of this morning’s CPI.
  • SONIA futures are -4.5 to +1.0 through the blues, as the strip twist flattens.
  • Once again, BoE-dated OIS pricing has failed to re-test yesterday’s hawkish extremes, with terminal policy rate pricing showing just above 6.00% at typing.
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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