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.
The rebound in Bunds from post-SVB meltdown yield extremes and some pre-PCE outperformance for U.S. Tsys has allowed Gilts to recover from session cheaps (last running 2bp richer to 1bp cheaper across the curve, twist steepening, pivoting at 10s) and BoE pricing to tick away from recent cycle extremes (to just below 5.60%), although this week’s moves remain sizeable (see chart below for an overview of week-to-date moves across the Gilt curve). A reminder that numerous fresh year-to-date highs have been registered across the major Gilt benchmarks in recent sessions, with levels not seen since the mini-Budget fallout under former PM Truss being observed.
Fig. 1: Week-To-Date Moves Across The Gilt Curve
Source: MNI - Market News/Bloomberg
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.