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

10-year yields highest levels since January 2016

GILTS
  • 10-year gilt yields hit their highest levels since January 2016 earlier (1.8462%) but have since moved back around 2.5bp off those peaks, albeit remaining 7.3bp higher on the day.
  • The moves have largely been driven by external factors with the French first round presidential result favouring Macron a little more than the polls suggested, leading to a relief sell-off in core fixed income globally.
  • This has also been accompanied by pricing in more to the front-end, particularly in Europe. Although for the UK, moves in 2-year yields were smaller than for 10-year so we have seen a bear steepening of the curve.
  • It's a big week for the UK with labour market data due tomorrow morning and inflation data due Wednesday. On top of that we also have a GBP2.5bln auction of the benchmark 10-year tomorrow, that could potentially see a relatively wide tail if markets continue to move as much as today.
  • 2y yields up 5.9bp today at 1.529%, 5y yields up 6.3bp at 1.589%, 10y yields up 7.5bp at 1.823%, 30y yields up 6.7bp at 1.964%.
  • 2s10s up 1.6bp today at 29.4bp, 10s30s down -0.8bp at 14.1bp
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.