FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

EGBs-GILTS CASH CLOSE: Yields Move Lower Alongside Oil Prices

BONDS

EGBs rallied strongly across the board throughout Wednesday's session.

  • A sharp drop in oil prices overnight, triggered in part on global growth concerns, helped drag on yields (and equities) early.
  • Though stocks rallied in the afternoon, the oil bounce alongside was relatively tame and core FI held gains.
  • Gilts outperformed Bunds (despite May UK inflation slightly above expectations); the UK curve bull steepened with Germany bull flattening.
  • BTP spreads opened wider but narrowed over the course of the day. GGBs underperformed.
  • Attention turns to PMI data Thursday.

Closing Yields / 10-Yr Periphery EGB Spreads To Germany:

  • Germany: The 2-Yr yield is down 9.3bps at 1.062%, 5-Yr is down 13.1bps at 1.421%, 10-Yr is down 13.3bps at 1.638%, and 30-Yr is down 14bps at 1.835%.
  • UK: The 2-Yr yield is down 17.2bps at 2.144%, 5-Yr is down 17.4bps at 2.166%, 10-Yr is down 15.5bps at 2.499%, and 30-Yr is down 14bps at 2.731%.
  • Italian BTP spread down 4.3bps at 188.4bps / Greek up 9bps at 226.4bps
BulletMarketsFixed Income BulletsHomepage
BulletMarketsFixed Income BulletsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.