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BONDS: Gilt/Bund spread widest in over a Year

BONDS
BulletMarketsFixed Income Bullets
  • It was a peculiar open for Gilt, below the expect calls, even the Sonia strip trading in positive territory didn't support the contract on the Open.
  • The early price action means that the Gilt/Bund spread is wider, a continuation since the September low of ~161.9bps, to trade at its widest level since late August 2023 now.
  • Besides the big Psychological 200bps level, the bigger level is at 205bps, just above the 2023 high, which is also the widest level since October 2022.

(Chart source: MNI/Bloomberg)

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  • It was a peculiar open for Gilt, below the expect calls, even the Sonia strip trading in positive territory didn't support the contract on the Open.
  • The early price action means that the Gilt/Bund spread is wider, a continuation since the September low of ~161.9bps, to trade at its widest level since late August 2023 now.
  • Besides the big Psychological 200bps level, the bigger level is at 205bps, just above the 2023 high, which is also the widest level since October 2022.

(Chart source: MNI/Bloomberg)