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Bunds Firm A Little, Greek 10s Widen Ahead Of Supply

EGBS

Early price action in Bunds is contained and two-way in nature, but a light downtick in global equity markets ultimately leaves the space with a light richening bias. The major German FI futures all sit firmer on the day as a result, while the cash benchmarks see 1-3bp of richening and some light bull flattening. Peripheral spreads at the 10-Year point are little changed to wider on the day, with Greek bonds widening the most, probably aided by the presence of today’s GGB supply. As noted earlier, 10-Year Bund supply and French issuance present the more meaningful sovereign issuance hurdles today.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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