MNI BRIEF: German Infl In Line With EA, Growth Lags - GCEE

MNI BRIEF: Focus Support For Cutting-Edge Tech - Ministry

MNI BRIEF: EU Won't Necessarily Follow US on Tariffs-Gentiloni

MNI China Daily Summary: Wednesday, May 15

MNI: PBOC Conducts CNY125 Bln 1Y MLF Weds; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1049 Weds; -3.97% Y/Y

MNI: US MAR BUSINESS INVENTORIES -0.1%; SALES -0.1%

MNI: US NAHB HOUSING MARKET INDEX 45 IN MAY

Home Sales And Prices Down In April

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

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

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

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

BTPs outperform on political hopes

EGB SUMMARY
  • The Italian Senate confidence vote remains the talking point of the day. There is still no official outcome but a tweet sent by Sky tg24's Marco di Fonzo stated that the government had "great optimism" that it would win an outright majority, although cautioned that PD and IV sources expected the government to win but be short of an overall majority. BTP futures spiked on the tweet to 151.60, the highest level seen since Wednesday last week. We have since moved 20 pips off the high but remain around 35 pips higher on the day.
  • Elsewhere, France saw a record book size of over E75bln for its new 50-year May-72 OAT. The size of the transaction was set at E7bln, the top of our estimated E4-7bln range.
  • Bunds are lower and peripheral spreads tighter in line with general risk-positive sentiment. BTP-Bund spreads are over 4bp tighter on the day on the back of Italian political optimism.
  • Bund futures are down -0.19 today at 177.18 with 10y Bund yields up 1.4bp at -0.515% and Schatz yields up 0.8bp at -0.712%.
  • BTP futures are up 0.40 today at 151.47 with 10y yields down -3.0bp at 0.599% and 2y yields down -1.9bp at -0.337%.
  • OAT futures are down -0.06 today at 167.27 with 10y yields up 0.9bp at -0.296% and 2y yields down -0.1bp at -0.624%.
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.