DALY SEES 'NO URGENCY TO ADJUST THE POLICY RATE'

MNI BRIEF: Fed’s Collins Sees Rate Cuts Later Than Had Thought

MNI BRIEF: China March M2 Slows More Than Expected

MNI BRIEF: China Tightens Stock Market Supervision

MNI BRIEF: China Mar Exports Jump On Demand; Imports Improve

MNI: PBOC Sets Yuan Parity Lower At 7.0967 Fri; -4.87% Y/Y

MNI: BAKER HUGHES US RIG COUNT 617; OIL RIGS 506; GAS RIGS 109

March Home Sales Jumped At End Of Month

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: Ramsden Urges Gilt Sales Even If BoE Were To Cut Rates

BOND SUMMARY

European government bonds have traded weaker this morning following yesterday's gains. Equities are also lower, while the dollar remains on the backfoot against G10 FX.

  • The BoE's Dave Ramsden earlier stated in a Reuters interview that the central bank would sell gilts even if it were to cut the bank rate in the event of an economic slowdown.
  • Gilts have edged lower with yields up 1-3bp on the day and the curve slightly bear flattening.
  • Bunds have underperformed gilts with yields up 3-5bp.
  • OATs have traced out a similar path with yields up 4-5bp.
  • BTPs have underperformed core EGBs. Cash yields are now 4-7bp higher on the day.
  • Supply this morning came from the UK (Gilt, GBP1.75bn), Germany (Schatz, EUR4.612bn allotted), Spain (Letras, EUR4.815bn), Belgium (TCs, EUR1.8bn) and Austria (RAGBs, EUR1.15bn).
  • The European data calendar was light again this morning with no tier one releases to note.
Homepagemarkets-real-timeBulletMarketsFixed Income 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.