Free Trial

A generally risk-off theme has seen.....>

EGB SUMMARY
EGB SUMMARY: A generally risk-off theme has seen Bunds move higher since
mid-morning in the European session. Concerns about the US-China trade deal and
Iran's nuclear ambitions have outweighed positive sentiment from better than
expected German industrial production data this morning.
- Bund futures are up 0.26 today at 166.34 with 10y Bund yields down -1.7bp at
-0.56% and Schatz yields down -1.1bp at -0.622%.
- The biggest moves have been seen in peripheral spreads. 2y BTP-Schatz spreads
have widened by 6.2bp with 10y BTP-Bund spreads 7.6bp higher. In addition to the
general risk-off sentiment, headlines stating that the League "urges focus on
tax cuts" have led to a broader BTP sell-off.
- GGB-Bund spreads are 11.6bp wider after PM Tsipras said yesterday that it will
lower its annual primary surplus target from 3.5% to 2.5%.

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.