MNI China Daily Summary: Friday, November 22

UK NOV FLASH MANUF PMI 48.6 (FCST: 50.0); OCT 49.9

EUROZONE NOV FLASH MANUF PMI 45.2 (FCST: 46.0); OCT 46.0

MNI: PBOC Net Drains CNY345.9 Bln via OMO Friday

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MNI China Daily Summary: Thursday, November 21

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

GERMANY NOV FLASH MANUF PMI 43.2 (FCST: 43.0); OCT 43.0

FRANCE NOV FLASH MANUF PMI 43.2 (FCST:44.5); OCT 44.5

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

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Under Pressure, Futures Through A Couple Of Support Levels

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

Gilts knocked lower alongside peers, with the hawkish ECB sources report and a swelling EUR & GBP issuance schedule applying weight.

  • Futures as low as 98.20, taking out a couple of support levels to test the 1.382 projection of the Aug 14-16-22 price swing (98.19).
  • A break there would expose round number support (98.00).
  • Yields 1-3bp higher across the curve, bear steepening.
  • Benchmark yields all moved through last week’s highs at the open.
  • SONIA markets see a modest extension of their early hawkish moves, futures last flat to -4.0.
  • Weekend headline flow saw some expected pushback from private equity and oil & gas firms when it came to potential Labour tax grabs. While some of the right-leaning press outlets have pointed to risk of ‘brain drain’. Nothing to really move markets, but worth noting.
  • Final manufacturing PMI data headlines today’s domestic schedule, with little in the way of meaningful UK risk events scheduled through this week.
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Gilts knocked lower alongside peers, with the hawkish ECB sources report and a swelling EUR & GBP issuance schedule applying weight.

  • Futures as low as 98.20, taking out a couple of support levels to test the 1.382 projection of the Aug 14-16-22 price swing (98.19).
  • A break there would expose round number support (98.00).
  • Yields 1-3bp higher across the curve, bear steepening.
  • Benchmark yields all moved through last week’s highs at the open.
  • SONIA markets see a modest extension of their early hawkish moves, futures last flat to -4.0.
  • Weekend headline flow saw some expected pushback from private equity and oil & gas firms when it came to potential Labour tax grabs. While some of the right-leaning press outlets have pointed to risk of ‘brain drain’. Nothing to really move markets, but worth noting.
  • Final manufacturing PMI data headlines today’s domestic schedule, with little in the way of meaningful UK risk events scheduled through this week.