Free Trial

EGB/Gilt - Yields edge back lower

BONDS
  • EGBs and Bund have extended higher throughout the day and during the afternoon session.
  • Drop in Oil has been a supportive factor, with move initially started by the China data miss and the surprise POBC cut for Oil.
  • Hope of that and Iran deal could be on the horizon has also put more pressure on Oil today.
  • Peripheral spreads are mixed, Spain and Portugal are close to flat against the German 10yr.
  • Greece and Italy are 2.8bps wider.
  • Gilt future is lagging Bund and the spread is trading 1bp tighter, after the spread traded at widest levels since March last week.
  • Looking ahead, Fed Waller speaks at Board of Governors Workshop.
  • Sep Bund futures (RX) up 131 ticks at 156.65 (L: 155.08 / H: 156.88)
  • Germany: The 2-Yr yield is down 7.2bps at 0.536%, 5-Yr is down 7.8bps at 0.677%, 10-Yr is down 8.7bps at 0.9%, and 30-Yr is down 8.6bps at 1.151%.
  • Sep Gilt futures (G) up 100 ticks at 116.97 (L: 115.94 / H: 117.15)
  • UK: The 2-Yr yield is up 0.1bps at 2.054%, 5-Yr is down 7.3bps at 1.858%, 10-Yr is down 9.6bps at 2.015%, and 30-Yr is down 10.1bps at 2.435%.
  • Sep BTP futures (IK) up 118 ticks at 128.47 (L: 126.91 / H: 128.72)
  • Sep OAT futures (OA) up 116 ticks at 145.58 (L: 144.25 / H: 145.78)
  • Italian BTP spread down 0.4bps at 207.9bps
  • Spanish bond spread down 0.1bps at 111bps
  • Portuguese PGB spread up 0.5bps at 101.3bps
  • Greek bond spread up 4bps at 229.2bps

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.