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The UK gilts traded flat as investors wait to watch the country’s 5-year auction, scheduled to be held on August 23. Also, the second-quarter gross domestic product, due to be released on August 24 by 08:30GMT will add further direction to the debt market.
The yield on the benchmark 10-year gilts, hovered around 1.07 percent, the super-long 30-year bond yields traded flat at 1.73 percent and the yield on the short-term 2-year remained tad lower at 0.21 percent by 11:10 GMT.
A mostly quiet week datawise with only a second read on GDP Thursday scheduled. The market looks for an unrevised 0.3 percent q/q increase. Central bank talk will take centre stage with the Jackson Hole Symposium starting Thursday through Saturday. The topic is on “Fostering a Dynamic Global Economy” and Fed chair Yellen is talking on Friday on financial stability.
Meanwhile, the FTSE 100 jumped 0.72 percent to 7,367.50 by 11:10 GMT, while at 11:00GMT, the FxWirePro's Hourly Pound Strength Index remained highly bearish at -100.18 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
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