Short Sterling futures: steadier after choppy 2-way trade on Tuesday

The UK STIR strip is holding a level to moderately firmer line following yesterday’s more volatile session when 3 month futures traded either side of parity, eyeing data, BoE testimony and the latest CBI Trends survey – that all ultimately left policy perceptions unchanged. The Budget is billed as today’s ‘big’ event, but in truth potentially more game-changing for Gilts and only then if Chancellor Hammond delivers any surprises (highly unlikely given scant fiscal room and Brexit still a largely unknown quantity). Regardless, the 10 year debt future looks set for catch up gains first thing, with the pre-open Liffe call suggesting a mark up in the region of 10-15 ticks from Tuesday’s 125.07 close.

22 Nov 2017 - 07:49- - Source: ransquawk

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