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UK STIRS Pressured As Core Global Bonds Weaken Further

STIR

SONIA futures are also on the defensive given the higher yields in core global FI markets.

  • Contracts on the strip are unchanged to 7.5bp lower through the blues, with steepening also seen there.
  • We haven’t seen much in the way of meaningful domestic news flow, leaving wider market moves and positioning adjustments at the fore.
  • BoE-dated OIS also drifts higher on the move, with liquid contracts 0.5-4.5bp above yesterday’s closing levels. That strip also steepens.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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