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Trading Weaker

GILT SUMMARY

Gilts have traded progressively weaker through the session.

  • Gilt yields are broadly 1-2bp higher on the day with the curve marginally flatter. Last yields: 2-year -0.0371%, 5-year -0.0019%, 10-year 0.2945%, 30-year 0.8397%.
  • The Mar-21 gilt future trades at 134.35, towards the bottom end of the day's range (L: 134.27 / H: 134.70).
  • Short sterling futures are flat/0.5 ticks lower in whites and 0.5-1.5 ticks higher in reds/greens/blues.
  • The BoE purchased GBP1.473bn of short-dated gilts with offer-to-cover of 2.85x.
  • Mortgage approvals for October came in higher than expected (97.5k vs 84.0k survey). Looking ahead, tomorrow sees the release of Nationwide house price data for November and the final manufacturing PMI print for the same month.

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