MNI BRIEF: Fed's Collins Expects Tariffs To Raise Prices

MNI: US JAN MANUF FINAL PMI 51.2 (FLASH 50.1); DEC 49.4

MNI BRIEF: EU's Tusk Says US Trade War Must Be Avoided

MNI BRIEF: Fed's Goolsbee Supports Slowing Rate Cuts

MNI BRIEF: US Dec Core PCE Inflation In Line With Expectations

MNI BRIEF: Fed's Bowman Wants Inflation Progress Before Cuts

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

EZ/UK T-Bill Calendar: Spain, Belgium, ESM Auction on Tuesday

MNI: US DEC CONSTRUCT SPENDING +0.5%

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

EGBS: Bund Futures Move Back Towards Session Highs

EGBS
BulletEurozoneFixed Income BulletsMarkets

Bund futures are +24 ticks today at 136.19, moving back towards session highs. Early support stemmed from a RTRS sources piece, which flagged the potential for a weaker CNY going forwards.

  • A bull cycle in Bund futures remains intact and the pullback from last Monday’s highs appears corrective.
  • Initial support lies at 135.75 (Dec 10 low), which shields the 20-day EMA at 135.46.
  • German yields are up to 1.5bps lower across the curve.
  • EU-bond spreads to Bunds are up to 1bp wider through 5 to 30-year maturities, following the release of the EU's H1-25 issuance plan after yesterday's close. The EU plans to sell E90bln of bonds in H1. This was likely larger (and more front-loaded) than markets had been expecting.
  • The 10-year OAT/Bund spread is 1bp wider at ~76.5bps, with President Macron still trying to appoint a Prime Minister that will satisfy France’s fragmented National Assembly.
  • Today’s market focus is the November US CPI report and the BoC decision, with the ECB decision headlining tomorrow’s regional calendar. 
162 words

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.

Bund futures are +24 ticks today at 136.19, moving back towards session highs. Early support stemmed from a RTRS sources piece, which flagged the potential for a weaker CNY going forwards.

  • A bull cycle in Bund futures remains intact and the pullback from last Monday’s highs appears corrective.
  • Initial support lies at 135.75 (Dec 10 low), which shields the 20-day EMA at 135.46.
  • German yields are up to 1.5bps lower across the curve.
  • EU-bond spreads to Bunds are up to 1bp wider through 5 to 30-year maturities, following the release of the EU's H1-25 issuance plan after yesterday's close. The EU plans to sell E90bln of bonds in H1. This was likely larger (and more front-loaded) than markets had been expecting.
  • The 10-year OAT/Bund spread is 1bp wider at ~76.5bps, with President Macron still trying to appoint a Prime Minister that will satisfy France’s fragmented National Assembly.
  • Today’s market focus is the November US CPI report and the BoC decision, with the ECB decision headlining tomorrow’s regional calendar.