Bonds - GBP

GBP Swaps: Market flies on two wings; Long paying

Traders said that sterling market activity today, and for previous sessions, has been very much a tale of two wings.

GBPi: Tactical linker shorts face decision after delay

A moment of clarity hit the linker market today in reaction to news that the consultation over RPI reform has been postponed.

GBP Swaps: Gilts gain but underperform; Inflation wider

Gilts bull-flattened but still underperformed against Bunds and Treasuries to start 2020. Inflation widened in the wings.

GBP Swaps: LDIs drive steepening; Bailey's Christmas

As LDI buyers of gilts start to drift into their Christmas escapes, so too has the bid in long gilts faded away, leading to a gentle steepening.

Basis Swaps: Book-tidying drives front-end; JPY bounce

With fears of a year-end liquidity squeeze ebbing fast, the very front end of the core basis swap markets all leapt higher this morning.

GBP Swaps: Complacency driving risky positioning

December 12 is of course Frank Sinatra’s birthday, and it could prove a date when many-a-trader will regret having done somethin' stupid ahead of it.

GBP Swaps:To-ing and fro-ing; SONIA-BOR 20y flow; MPC payer

Even as gilts fell 60 ticks on trade/election hopes, some of the most interesting action was in long end SONIA-BOR.

GBP Swaps: Thriving auction; Hiding Boris

Ten-year gilts soared today thanks to a combination of supply factors, Trump and politics. Elsewhere, there are worries about Boris.

GBP Swaps: ASWs shrug off narrowing poll; DMO plans

A narrowing in the opinion polls between Labour and Tory in the recent polling has not been reflected in 30y ASWs. Quite the opposite.

GBP Swaps: Roll risking 2028/29 mistake; SONIA-BOR talk

The 10y gilt yield traded in a narrow range today, a dull stat that conceals a lot of roll-related action.