Free Trial

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Bunds Start Outperforming Tsys Against Ukraine Backdrop


Bund yields are moving decisively lower now, with 10Y down 1.7bp in last 10-15 min or so to a session low 0.221%. Potentially delayed reaction to Ukraine headlines, but short end not reacting much, and US Tsy yields steady.

  • So not purely risk-off (equities had already had their correction before Bund yields started their move to session lows).
  • Clients noting that Bund's had a tendency to rally late in the afternoon pre cash-close in recent days.
  • Worth showing the Tsy vs Bund yield chart though to show the disconnect:

Source: BBG

To read the full story

Why Subscribe to


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.