Free Trial

EGB/GILT

BOND SUMMARY

European govies have broadly firmed this morning alongside fresh losses for equities and a resurgent US dollar.

  • Gilts rallied from the open, but quickly gave up the early gains and now trade within 1bp of yesterday's close
  • The bund rally has been sustained through the morning with the curve bull flattening. The 2s30s spread is 3bp narrower.
  • OATs trade broadly in line with bunds. Cash yields are up to 2bp lower on the day.
  • BTPs have trade marginally weaker. Last yields: 2-year -0.3866%, 5-year 0.0724%, 10-year 0.6525%, 30-year 1.505%.
  • Supply this morning came from France (OATs EUR8.495bn, Linkers EUR1.50bn), Spain (Letras, EUR1.844bn) and Ireland (Bills, EUR0.75bn).
  • UK Government spokesman Jamie Davies indicated that trade talks with Canada were at an 'advanced stage', while Trade Secretary Liz Truss stated that negotiations with the US were making 'good' progress.

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.