BOC SAYS DOESN'T NEED TO ALTER PATH OF QT RIGHT NOW

this is a test, please ignore

MNI BRIEF: Text of Bank Of Canada Interest-Rate Decision

MNI China Daily Summary: Wednesday, July 24

MNI: PBOC Net Drains CNY203.9 Bln Via OMO Wednesday

MNI: PBOC Sets Yuan Parity Higher At 7.1358 Weds; -0.98% Y/Y

New Home Sales Activity And Prices Continue To Cool

US EIA: CRUDE OIL STOCKS EX SPR -3.74M TO 436.5M JUL 19 WK

Services PMI Gains Continue To Diverge From Soft Manufacturing

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

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

BTP Spreads Approach Lowest Levels Since Covid-19 Hit Europe

EGB SUMMARY
  • Bunds have been under pressure through most of the European session as European equities trade higher and peripheral spreads have narrowed.
  • The biggest moves in spreads have been for BTPs where follow through from the market-positive regional election results helped BTP-Bund spreads approach levels seen in the middle of August (which were in turn the lowest since February when Covid-19 began to hit Europe and particularly Italy).
  • Supply today has been dominated by the Netherlands and Germany with the DSTA issuing a new 0% Jan-52 bond via DDA for E6bln and German issuing E4bln of Schatz.
  • Bund futures are down -0.26 today at 174.39 with 10y Bund yields up 2.0bp at -0.510% and Schatz yields up 1.4bp at -0.716%.
  • BTP futures are up 0.60 today at 147.46 with 10y yields down -3.8bp at 0.879% and 2y yields down -2.0bp at -0.224%.
  • OAT futures are down -0.17 today at 168.52 with 10y yields up 1.4bp at -0.243% and 2y yields up 1.0bp at -0.648%.
BulletMarketsFixed Income Bullets
BulletMarketsFixed Income 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.