HALISTER1: Gilt Opening Calls: Futures Seen Opening Lower Near 128.20/13

Gilt Opening Calls: Futures Seen Opening Lower Near 128.20/13

(Bloomberg) -- Gilt futures called to open lower with bunds, Treasuries. GBP slips in Asian session as U.K. threatens to quit Brexit talks unless EU drops demand for an exit bill.
  • Gilt market focus is on upcoming cash flows and index changes
    • Coupon-paying gilts go ex-div May 29, with GBP2.5b to be repaid. The 2032 gilt is set to drop out of 15y+ index, lengthening the index by 0.6 years on June 8; NatWest Markets recommend selling the 2032 bond vs 2046
  • Gilt 10Y futures called to open at 128.20 (-0.09) RX ref: 161.28
  • Called to open at 128.13 (-0.16) based on TY ref: 126.1
  • NOTE: Opening call levels are derived from prices of equivalent bund futures since 7pm CET previous trading day; changes vs gilt closing prices at 7pm CET
To contact the reporter on this story: Stephen Spratt in London at sspratt3@bloomberg.net To contact the editors responsible for this story: Ven Ram at vram1@bloomberg.net Anil Varma

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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