Gilts set for best week since July after run of poor economic data

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Financial Times 15h ago

Gilts set for best week since July after run of poor economic data - Financial Times

Quick Summary:

Traders now anticipate at least two quarter-point rate reductions this year from the current level of 4.75 per cent, and a two-thirds chance of a third cut, according to levels implied in swaps markets.

The two-year yield was down 0.04 percentage points at 4.34 per cent on Friday, taking its drop this week to 0.19 percentage points.

Many of the companies in the blue-chip index are dollar earners, meaning they benefit from a stronger US currency.“The better news on inflation let gilts be the safe haven asset the market now increasingly feels it needs in the UK,” said Gordon Shannon, a portfolio manager at TwentyFour Asset Management.