Menu

Search

  |   Commentary

Menu

  |   Commentary

Search

UK gilts slump despite worse-than-expected December retail sales data; Brexit chaos continue to bother

The United Kingdom’s gilts slumped during Friday’s afternoon session despite a worse-than-expected retail sales data for the month of December, released today amid the ongoing Brexit chaos, followed by PM May’s survival of the no-confidence vote on Wednesday.

The yield on the benchmark 10-year gilts, jumped 2 basis points to 1.356 percent, the super-long 30-year bond yields also surged 2 basis points to 1.872 percent and the yield on the short-term 2-year traded tad higher at 0.824 percent by 10:50GMT.

The end of an exhausting week for Brexit news seems unlikely today to bring any breakthrough ahead of Monday’s deadline for the submission to Parliament of the Theresa May’s Plan B.

Of course, the key date now will be January 29, when MPs will get an opportunity to vote on, and amend, the Government’s proposals. Today’s UK dataflow, meanwhile, brings the latest retail sales figures. Some major retailers reported relatively decent festive period sales.

But, with consumer confidence having taken a turn for the worse towards the end of the year, overall High Street momentum appears to be weak. And consistent with the subdued results of the latest retail sector surveys such as the BRC’s, today’s figures will probably show a drop in sales – expectations are for a decline of nearly 1 percent m/m, which would leave sales in Q4 only slightly higher compared to Q3, Daiwa Capital Markets reported.

Meanwhile, the FTSE 100 jumped 1.21 percent to 6,918.64 by 10:55GMT, while at 10:00GMT, the FxWirePro's Hourly Pound Strength Index remained slightly bullish at 81.37 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

April 22 14:00 UTC Released

USExist. Home Sales % Chg

Actual

-4.9 %

Forecast

-3.8 %

Previous

11.8 %

April 22 14:00 UTC Released

USExisting Home Sales

Actual

5.21 Mln

Forecast

5.3 Mln

Previous

5.51 Mln

January 31 00:00 UTC 643086643086m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 643086643086m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 654906654906m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 643086643086m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 654906654906m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 643086643086m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 643086643086m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 643086643086m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.