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Bull flatter curves

EGB SUMMARY

Bund are better bid this afternoon, and the curve trades bull flatter.

  • Some unwind from yesterday's move, and also some Month End related buying.
  • EU pan Govies final Barcap extension is at +0.13yrs (Decent, large)
  • Peripheral are generally flat to tighter, with Greece leading at 2.3bps
  • Looking ahead, Biden's infrastructure plan presser
  • Jun Bund futures (RX) up 37 ticks at 171.37 (L: 170.88 / H: 171.39)
  • Germany: The 2-Yr yield is down 0.2bps at -0.694%, 5-Yr is down 0.7bps at -0.632%, 10-Yr is down 1.3bps at -0.299%, and 30-Yr is down 2bps at 0.248%.
  • Jun BTP futures (IK) up 37 ticks at 149.4 (L: 148.95 / H: 149.44)
  • Jun OAT futures (OA) up 35 ticks at 162.05 (L: 161.6 / H: 162.07)
  • Italian BTP spread down 1.1bps at 95.5bps
  • Spanish bond spread down 0.7bps at 62.2bps
  • Portuguese PGB spread up 0.1bps at 51.6bps
  • Greek bond spread down 2bps at 116.1bps
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BulletMarketsFixed Income Bullets

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