TEST FROM BANK OF CANADA, PLEASE IGNORE

MNI BRIEF: US Existing Home Sales Fall 5.4% To 3.89M In June

MNI BRIEF: China Wants U.S. Firms To Deepen Investment

MNI China Daily Summary: Tuesday, July 23

MNI: PBOC Net Drains CNY408.7 Bln Via OMO Tues

MNI: PBOC Sets Yuan Parity Lower At 7.1334 Tues; -1.30% Y/Y

MNI: UK APR-JUN MEDIAN PAY AWARDS +4.9% :Brightmine

US Treasury Auction Calendar

BoC Data Watch

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

Belly underperforms ahead of APF sales op results

GILTS
  • 10-year gilts have moved largely in line with 10-year Bunds today, but the real story of the day has been that moves have been relatively rangebound (staying in a 100.55-100.87 range since 9:20BST), although we have just moved below that 100.55 level at the time of writing (albeit still above the intraday low of 100.43).
  • We have moved into the bidding window for today's BOE medium-dated APF sales with GBP750mln of 7-20 year gilts on offer.
  • Moving into this window we have seen the belly of the 5s10s30s curve underperform.
  • After that, attention will turn to tomorrow's labour market data (due pre-market open at 7:00BST). We will receive another reading ahead of the June MPC meeting, but tomorrow's data will still provide the tone to the gilt market until we receive another CPI print next week.
  • 2y yields up 2.7bp today at 3.815%, 5y yields up 2.8bp at 3.623%, 10y yields up 3.4bp at 3.809% and 30y yields up 2.6bp at 4.240%.
  • 2s10s up 0.7bp today at -0.6.bp and 10s30s down -0.8bp at 43.1bp.
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.