Bonds - GBP
Despite the PM being locked down with a nurse, GBP fixed income had no option but to carry on. Traders reported 5y action and index uncertainty.
Gilts played the role of the token sane market today as 10y yields rallied a mere 5bps versus 20bps in OATs. Long linkers were well bid.
Traders report 'carnage' as London prepares to go into lockdown, Bailey fails to reassure.
Upside risk to the mooted $1trn fiscal package suggests that borrowing will approach wartime levels. Banks welcome the Fed's PDCF but...
Swappers didn’t sound happy this evening as another torrid day of corona-trading once again did its best to defy belief.
Basis swaps market are the Taurus of the capital markets world. Stable, low-drama, boringly hard to rouse, but when roused. Beware.
And the hits just keep on coming. Today risk-on had the first stab at messing with everybody’s heads.
UK DMO CEO Sir Robert Stheeman discusses the coronavirus, gilt issuance and the government's RPI consultation.
UK DMO: Fewer linkers as RPI consultation kicks off
Busy again for traders today as corona hovered and the DMO gaveth £2.25bn of 4% 2030 gilts via a regular auction, while the BOE tooketh away £1.445bn