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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
- BTP drags EGBs lower, volumes remain on the low side and the illiquid markets help exacerbate the moves.
- Not really seen a clear driver for the pullback, but the lack of volume isn't helping.
- RM desks are clearly on the sideline.
- Next immediate support is seen at the March low, 139.12.
- Although, better is still seen at 138.99 Low Feb 22
- BTP/Bund spread moves 2.2bps wider, but well within past ranges.
- In yield terms for the BTP, next upside target is at 1.998%, which equate to 138.82.
- This was the highest print since May 2020.
- Above the latter for yield, the 07/05/20 high is at 2.035% and this would equate to 138.39.
Chart source: MNI/Bloomberg
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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