MNI: FED'S BARKIN STILL CONFIDENT UNDERLYING INFLATION FALLING

MNI China Daily Summary: Friday, January 3

MNI China Press Digest Jan 3:RRR Cut Mooted, Yuan, Consumption

MNI BRIEF: Beijing Boosts Consumer Trade-ins To Cellphones

MNI: PBOC Net Drains CNY88.5 Bln via OMO Fri

MNI: PBOC Sets Yuan Parity Lower At 7.1878 Fri; -2.29% Y/Y

US EIA:NAT GAS STORAGE -116 BCF TO 3,413 BCF JAN 03 WK

MNI: US ISM DEC MANUF PURCHASING MANAGERS INDEX 49.3

MNI: UK NOV M4 MONEY SUPPLY +0% M/M, +2.9% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

BUNDS: Curve Bear Flattens Alongside Hawkish Move In EUR STIRs

BUNDS
BundesbankCentral Bank NewsCEEMEAEurozoneGermanyBulletMarketsFixed Income Bullets

Previously covered hawkish repricing in Euribor futures helps explain Bund cross-market weakness on the day, although we haven’t seen an overt trigger for that move (deeper thoughts/colour in recent STIR bullet).

  • The move also helps explain the bear flattening on the German curve.
  • Yields last little changed to 3.5bp higher on the day,
  • Schatz yields have pierced the November 22 high (2.135%), bearish extension would target 2.20% and the November 18 high (2.201%).
  • 2.20% is limiting bearish extensions in Bobl yields at present (highs of 2.203% registered so far, also the highest level seen since late November).
  • Bund yields have traded within 1bp of their late December high, as have Buxl yields.
  • Bund futures trade as low as 132.91, with yesterday’s low (132.90) limiting the move for now.
123 words

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.

Previously covered hawkish repricing in Euribor futures helps explain Bund cross-market weakness on the day, although we haven’t seen an overt trigger for that move (deeper thoughts/colour in recent STIR bullet).

  • The move also helps explain the bear flattening on the German curve.
  • Yields last little changed to 3.5bp higher on the day,
  • Schatz yields have pierced the November 22 high (2.135%), bearish extension would target 2.20% and the November 18 high (2.201%).
  • 2.20% is limiting bearish extensions in Bobl yields at present (highs of 2.203% registered so far, also the highest level seen since late November).
  • Bund yields have traded within 1bp of their late December high, as have Buxl yields.
  • Bund futures trade as low as 132.91, with yesterday’s low (132.90) limiting the move for now.