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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.
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Free AccessBusy morning session
A busy start of the year for EGBs, and elevated volumes.
- Bund spiked throughout the morning session, with buying seen across core and semi core.
- Bunds extended gains post Spanish PMI, to push through the 178.00 figure, to print a 178.37 high.
- Irish 10yr yield is tested new record low at -0.344%, while Spain and Portugal yields look edge back into negative territory
- Given the faster bid move in Bund, peripherals trade wider versus the German 10yr, with Italy the widest by 3.3bps at 114.1bps.
- Gilts took their cue from the better bid in Europe, and despite the vaccine roll-out set to start today, lock down concerns remains.
- US Treasuries remains within overnight ranges, and trade a touch in the red at the time of typing, on the Risk on flow.
- Looking ahead, US Mfg PMI is the notable data, but final reading, so unlikely to move the needle.
- On the speaker front, Fed Evans, Bostic and Mester are scheduled, while for Europe, ECB Lane is the highlight.
- Mar Bund futures (RX) up 61 ticks at 178.25 (L: 177.52 / H: 178.37)
- Mar Gilt futures (G) up 25 ticks at 135.79 (L: 135.32 / H: 135.96)
- Mar BTP futures (IK) up 21 ticks at 152.22 (L: 151.62 / H: 152.29)
- Italy / German 10-Yr spread 2.9bps wider at 114.1bps
- Mar OAT futures (OA) up 51 ticks at 168.37 (L: 167.76 / H: 168.46)
- US 2-Yr yield is unchanged at 0.1211%, 5-Yr is up 0.5bps at 0.3655%, 10-Yr is up 1.5bps at 0.9282%, and 30-Yr is up 1.7bps at 1.6616%.* Mar 10-Yr futures (TY) down 3/32 at 137-31.5 (L: 137-26.5/ H: 138-02)
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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.