MNI BRIEF: Bank Of Italy Downgrades 2024 Inflation Forecast

CANADA MAR JOBLESS RATE 6.1% VS FORECAST 5.9%, PRIOR 5.8%

MNI: Canada Wages Up 5% Even With Highest Jobless Rate In 2Yrs

MNI BRIEF: Monetary, Fiscal Policy Need Harmony - Campos Neto

CORRECTED-MNI: Changing Brazil Fiscal Target Not "Plan A"

MNI BRIEF: PBOC To Curb Any Overshooting Of The Yuan-MPC

MNI: US FEB CONSUMER CREDIT +$14.1B

MNI: BAKER HUGHES US RIG COUNT 620; OIL RIGS 508; GAS RIGS 110

EZ/UK Bond Supply Calendar: EU-Bond Auction, BoE Short APF Mon

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

EGB/Gilt - Gilt underperforms

BONDS
  • EGB and Bund Yields have resumed their falls throughout the session, another massive wide traded session in terms of ranges, but once again very low volumes vs averages.
  • Volume did pick up this afternoon, after futures fell, following the US ISM Services Index beat expectations.
  • Desks are also likely covering as we head towards the end part of the European session.
  • Peripherals are all wider, besides Greece that sits 10.5bps tighter.
  • Italy is the widest, by 2.8bps, but they trade within past ranges.
  • German 10yr Yield printed a 1.12% low today.
  • Gilt has underperformed, with short term focus squarely on the UK political debacle, as the UK PM Faces Imminent Ouster.
  • Gilt/Bund spread has widened by 8.1bps, with Bund in the green and Gilts in the red.
  • Looking ahead, attention turns to the FOMC minutes.
  • Sep Bund futures (RX) up 41 ticks at 151.65 (L: 150.56 / H: 152.92)
  • Germany: The 2-Yr yield is down 4.9bps at 0.383%, 5-Yr is down 5.4bps at 0.816%, 10-Yr is up 3.3bps at 1.212%, and 30-Yr is up 2.4bps at 1.521%.
  • Sep Gilt futures (G) down 32 ticks at 115.76 (L: 115.47 / H: 117.09)
  • UK: The 2-Yr yield is up 8.6bps at 1.769%, 5-Yr is up 4.7bps at 1.759%, 10-Yr is up 5.2bps at 2.101%, and 30-Yr is up 7.4bps at 2.538%.
  • Sep BTP futures (IK) up 35 ticks at 124.98 (L: 124.25 / H: 126.12)
  • Sep OAT futures (OA) up 34 ticks at 140.77 (L: 139.9 / H: 141.91)
  • Italian BTP spread down 3.9bps at 193.8bps
  • Spanish bond spread down 4.1bps at 106.6bps
  • Portuguese PGB spread down 3.8bps at 106.9bps
  • Greek bond spread down 17.6bps at 204.9bps
HomepageBulletMarketsFixed Income BulletsForeign Exchange Bullets

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.