MNI: China CFETS Yuan Index Down 0.15% In Week of Feb 7

MNI: PBOC Net Drains CNY234 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Higher At 7.1707 Mon; -1.31% Y/Y

MNI BRIEF: Fed Review Must Incorporate Many Scenarios - Kugler

MNI BRIEF: Fed's Kugler Says Makes Sense To Hold For Some Time

MNI BRIEF: Mexico Inflation Down To 3.59% In January

MNI: US DEC CONSUMER CREDIT +$40.8B

MNI: BAKER HUGHES US RIG COUNT 586; OIL RIGS 480; GAS RIGS 100

BAKER HUGHES CANADA RIG COUNT 249; OIL RIGS 177; GAS RIGS 72

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

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

GERMANY: Kukies Considers Potential Non-Implementation Of 2024 Suppl' Budget

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

EGBS: Bund Futures Pierce Monday's High, Following USTs Higher

EGBS
BulletEurozoneFixed Income BulletsMarkets

Bund futures have pierced Monday’s high, currently +47 ticks at 133.59. Regional data/speakers have not been market moving, with major EGB futures following USTs higher through the session. 

  • Today’s rally in Bunds exposes 133.73 (50.0% retracement of the Dec 2 - Jan 14 bear leg) and 133.86 (Jan 2 high) on the upside.
  • The German curve has bull flattened, with 30-year yields ~4.5bps lower today.
  • 10-year EGB spreads are within 0.5bps of yesterday’s closing levels. French PM Bayrou is expected to survive two censure motions later this afternoon.
  • Eurozone January services/composite PMIs were broadly in line with flash prints, while December PPI was close to consensus.
  • The ECB wage tracker was little changed compared to the December release, still pointing to a deceleration of wage growth this year.
  • ECB Vice President de Guindos played down the role of the neutral rate in setting near-term policy an interview. This comes ahead of an ECB staff report on the concept on Friday.
  • Global focus turns to the US Quarterly Refunding Announcement at 1330GMT/1430CET, with US services sentiment data also due this afternoon.
176 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 have pierced Monday’s high, currently +47 ticks at 133.59. Regional data/speakers have not been market moving, with major EGB futures following USTs higher through the session. 

  • Today’s rally in Bunds exposes 133.73 (50.0% retracement of the Dec 2 - Jan 14 bear leg) and 133.86 (Jan 2 high) on the upside.
  • The German curve has bull flattened, with 30-year yields ~4.5bps lower today.
  • 10-year EGB spreads are within 0.5bps of yesterday’s closing levels. French PM Bayrou is expected to survive two censure motions later this afternoon.
  • Eurozone January services/composite PMIs were broadly in line with flash prints, while December PPI was close to consensus.
  • The ECB wage tracker was little changed compared to the December release, still pointing to a deceleration of wage growth this year.
  • ECB Vice President de Guindos played down the role of the neutral rate in setting near-term policy an interview. This comes ahead of an ECB staff report on the concept on Friday.
  • Global focus turns to the US Quarterly Refunding Announcement at 1330GMT/1430CET, with US services sentiment data also due this afternoon.