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Trans-Atlantic Forces Felt

GILTS
Bank Of England (BOE) Market NewsHomepageBond Market NewsBulletMarketsFixed Income Bullets

Trans-Atlantic spill over in recent trade.

  • We initially saw light tailwinds for gilts on the back of the Canadian CPI data, but the move was limited, which is understandable given the relatively modest reaction in CAD rates.
  • Fedspeak from Waller then applied some weight before fading.
  • Gilt futures see incremental fresh session highs of 97.88 on the follow, although still operate in a narrow 34-tick range.
  • Previously covered initial technical levels in the contract remain untouched, leaving a short-term bullish backdrop in play.
  • Cash gilt yields are ~3bp lower on the day.
  • Solid demand for the latest 20-Year gilt auction and another fall in the Kantar supermarket inflation metric provided domestic support this morning.
  • A reminder that BoE Governor Bailey will speak at 18:00 London, we have covered that in detail on several occasions today.
  • CPI data hits first thing tomorrow (07:00 London), expect our preview of that release to cross shortly.
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Trans-Atlantic spill over in recent trade.

  • We initially saw light tailwinds for gilts on the back of the Canadian CPI data, but the move was limited, which is understandable given the relatively modest reaction in CAD rates.
  • Fedspeak from Waller then applied some weight before fading.
  • Gilt futures see incremental fresh session highs of 97.88 on the follow, although still operate in a narrow 34-tick range.
  • Previously covered initial technical levels in the contract remain untouched, leaving a short-term bullish backdrop in play.
  • Cash gilt yields are ~3bp lower on the day.
  • Solid demand for the latest 20-Year gilt auction and another fall in the Kantar supermarket inflation metric provided domestic support this morning.
  • A reminder that BoE Governor Bailey will speak at 18:00 London, we have covered that in detail on several occasions today.
  • CPI data hits first thing tomorrow (07:00 London), expect our preview of that release to cross shortly.