Free Trial

Core EGBs are trading weaker Friday.....>

EGB SUMMARY
EGB SUMMARY: Core EGBs are trading weaker Friday with periphery spreads coming
in as a result.
- 10-Yr Italian BTP spreads vs Bunds are down 3.5bps at 252.1bps, with the rest
of the periphery trading tighter as well: Spain in 2.5bps, Portugal in 4.6bps,
Greece down 5.6bps.
- Eurozone data largely in line with expectations this morning, with Italian
inflation surprising to the upside and France to the downside.
- Still, with risk-on atmosphere prevailing in the early going (EuroStoxx up
0.6%), global safe-haven instruments are weaker.
- Jun 19 Bund futures down 30 ticks at 166.09, just off day's low (166.07).
- ECB's Coeure said earlier that the eurozone's banking system was 'fully
operational' but still needed work, and that the drop in EZ inflation
expectations 'parly reflects global factors'.
- Risk tone for the rest of the day in Europe could be determined by the Brexit
vote at 1430GMT; support for P.M. May's Withdrawal deal appears on a knife's
edge though still unlikely to pass.

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.