Fixed Income: Midday European Update
European Fixed Income Midday: European debt futures are mixed have given up most of this morning’s losses, with Gilt futures outperforming on BoE Minutes, which was in line with the August Inflation Report, suggesting that the central bank has opened the door for a rate cut next year.
The September 10-year Bund future is down 1 tick at 114.32 and the corresponding Gilt future is up 10 ticks at 109.19. In the cash market the 10-year Bund yield is flat at 4.17% and the Gilt yield is down 2 bp at 4.58%. Stock markets are firmer (DAX 0.50% and the FTSE 100 0.84%, as of 09:55GMT).