Free Trial

UK Gilts have opened with a mild risk-off.....>

GILTS
GILTS: UK Gilts have opened with a mild risk-off bid as markets digest latest
developments surrounding the Turkish Lira which hit a low of 7.23 vs US Dollar
on Sunday, but has since rallied to trade at around 6.80 due to central bank
intervention. 10-yr Gilt yield is 1bp lower at 1.237% and is leading the rest of
the yield curve lower.
- There is a dearth of UK data Monday so attention will remain on events in
Turkey which Erdogan says is an economic war. Focus will also be on Italy which
has under some heavy selling pressure so far this morning
- Looking ahead, there is some very important data from the UK in next few days
with latest labour market and earnings data on Tuesday, July inflation and PPI
on Wednesday and Jul retail sales on Thursday.
- On the sales front, VISA published its UK consumer spending index that showed
a decline in household spending in July by 1.2%.
- Short sterling futures are steady to 1 tick higher, with Jun19 contracts and
higher moving up.

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.