WEEK AHEAD (Cont) - A few are looking for........>

UK: WEEK AHEAD (Cont)

- A few are looking for announcements of tapering next week but most expect the

GBP100bln of gilts to be purchased at the current pace until at least the August

MPC meeting. This will give the MPC more clarity over both the economic and

fiscal fallouts from Covid-19. Tweaks to the TFS are generally not expected

until August at the earliest.

- Turning to data, labour market data on Tuesday is likely to see focus on

jobless claims for May. The headline unemployment and earnings data will cover

the 3-months to April and are likely to be too lagged to be particularly

informative. CPI on Wednesday will be watched ahead of the BoE decision but will

be more interesting in June covering more retail outlets will have reopened. The

most interesting data comes on Friday when we will receive retail sales and

public finance data (both for May). Although we note that June data will be even

more informative as it will cover the post-lockdown period. (2/2)

- For the full document and auction previews see MNI Gilt Week Ahead sent via

email to MNI Markets subscribers at 6:30BST.