Free Trial

Core EGBs are having a poor start to....>

EGB SUMMARY
EGB SUMMARY: Core EGBs are having a poor start to Thursday amid a pickup in
Eurozone data flow.
- The Mar 19 Bund future is down 26 ticks at 166.25, touching 166.15 earlier.
10-Yr Bund weakest on curve, yield up 1.6bps at 0.116%.
- German PMIs readings for Feb were hugely mixed: manufacturing missed
expectations (47.6 vs MNI Median 50.1); Services beat though (55.1 vs 53.0 exp.)
- In France, positive surprise to both services (49.8 vs 48.5 MNI Median) and
manufacturing (51.4 vs 51.2 MNI Median).
- Eurozone comp PMI (0900GMT) was 51.0 in Jan; (MNI median for Feb: 51.1).
- Final Germany/French CPI for Jan was in line with expectations.
- BTPs weaker, Mar 19 future is down 13 ticks at 127.15 albeit off 126.86
intraday low. MNI sources story this morning said the gov`t aims to scrap the
requirement for a medium-term structural budget balance.
- France and Spain this morning selling M/T bonds (France also selling linkers).
- ECB's Praet said this morning that services CPI has been weaker than expected.
- 1230GMT sees Jan ECB monetary policy meeting minutes.

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.