Free Trial

EGB/Gilt - Mixed So Far

BOND SUMMARY

Following a weak start, European government bonds now trade mixed on the day. Equity performance has similarly been uneven, while the dollar has been on the front foot against G10 FX.

  • Gilts have traded weaker with cash yields 1-2bp higher and the very long of the curve slightly steeper.
  • Germany bonds similarly had a weak start but soon recovered losses to trade flat on the day.
  • OATs have also recovered following the earlier sell off, with the belly of the curve now trading marginally above yesterday's close.
  • The BTP curve has bull steepened with the 2s30s spread 2bp wider.
  • The final estimate of French Q1 GDP was revised lower (-0.1% Q/Q vs an initial estimate of 0.4$),
  • Supply this morning came from the UK (Treasury Bills, GBP3bn) and Italy (BTPs/CCTeu, EUR8.5bn)

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.