Free Trial

The meaningful parliamentary vote on...>

GILT SUMMARY
GILT SUMMARY: The meaningful parliamentary vote on the negotiated Brexit deal
will no longer take place this week (as previously expected). PM Theresa May
will update the House on Tuesday, having already dismissed the Labour Party's
suggestion of seeking a customs union with the EU. 
- This morning's weak GDP print for December/Q4 will further ratchet up pressure
on MPs ahead of the eventual vote on May's Withdrawal Agreement.
- Gilts were initially under pressure from the open, but started to regain
ground shortly after 0900GMT. Yields are now near the middle of the day's range.
Current yield levels: 2-year 0.714%, 10-year 1.172%, 30-year 1.683%. 
- The Mar-19 gilt future trades at 124.14, up 25 ticks from the morning low.
- Inflation breakevens have inched higher with the 5-year benchmark trading up
to 3.149% from a low of 3.135%.
- The short sterling futures strip is 0.5-3.0 ticks lower with greens/blues
underperforming.
- Next up on the data calendar will be the CPI print for January, which is
published on Wednesday.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.