DALY SEES 'NO URGENCY TO ADJUST THE POLICY RATE'

MNI BRIEF: Fed’s Collins Sees Rate Cuts Later Than Had Thought

MNI BRIEF: China March M2 Slows More Than Expected

MNI BRIEF: China Tightens Stock Market Supervision

MNI BRIEF: China Mar Exports Jump On Demand; Imports Improve

MNI: PBOC Sets Yuan Parity Lower At 7.0967 Fri; -4.87% Y/Y

MNI: BAKER HUGHES US RIG COUNT 617; OIL RIGS 506; GAS RIGS 109

March Home Sales Jumped At End Of Month

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

BTP rally the morning focus

BOND SUMMARY

Core fixed income has generally traded within yesterday's ranges, although we did see some early weakness in gilts on the open (now reversed).

  • The main story of the morning is the continued BTP rally. After 10-year yields broke to record low levels yesterday they reached new highs again earlier this morning. The futures contract hit a high of 153.82, just shy of the 153.87 level our technical analyst noted (corresponding to the 1.00 projection of the Oct-Jan rally from the Jan 22 low).
  • Looking ahead there are no notable central bank speakers scheduled but there will be focus on Michigan confidence data.
  • TY1 futures are up 0-1+ today at 136-29 with 10y UST yields down -1.2bp at 1.154% and 2y yields down -0.2bp at 0.108%.
  • Bund futures are up 0.06 today at 176.49 with 10y Bund yields down -0.5bp at -0.464% and Schatz yields down -0.1bp at -0.723%.
  • Gilt futures are up 0.04 today at 132.52 with 10y yields down -0.7bp at 0.462% and 2y yields down -0.5bp at -0.51%.
BulletMarketsFixed Income BulletsForeign Exchange Bullets

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.