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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.
BONDS
The rise in European yields extends as US desks come in.
- Despite the bear flattening bias overall, it's levels at the longer end of the curve which are arguably the most interesting:
- 30Y Germany at 2.793% is at the highest in a decade, with 2.812% representing the 2013 high beyond which lie 2011 levels.
- 30Y UK meanwhile at 4.807% is set to close at the highest yield level since October 2022.
- Peak rate hike pricing continues to extend as well. BoE terminal Bank Rate pricing +16bp to 6.04% (79bp of further hikes left in the cycle). ECB terminal depo Rate pricing +4.7bp to 3.99% (24bp of further hikes left in the cycle).
- Latest yield levels: Germany: The 2-Yr yield is up 8.7bps at 3.165%, 5-Yr is up 9.3bps at 2.745%, 10-Yr is up 8.4bps at 2.721%, and 30-Yr is up 7.8bps at 2.787%. UK: The 2-Yr yield is up 10.8bps at 5.189%, 5-Yr is up 9bps at 4.661%, 10-Yr is up 6.9bps at 4.635%, and 30-Yr is up 5.4bps at 4.807%.
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.
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