Free Trial

EGB/Gilt - An impressive 201 ticks range for Bund

BONDS
  • Another busy session for EGBs/ Bund and Global Govies.
  • Once again Russia news is what drove multi cross assets.
  • The overnight Risk Off note was reversed this morning on the more positive news that Russian legislator are backing off wider separatist recognition claim.
  • This was followed by Russian Foreign Ministry, saying that Russia recognises breakaway Ukrainian Republic within borders that they currently control. In effect, it limits sanctions pressure for Russian too.
  • Bund is down 95 ticks at the time of typing,
  • The contract has traded in a 201 ticks range (165.16/167.17, and is off the low, with support seen at 165.14, printed a 165.16 low.
  • Peripherals are all tighter, Italy lead by 2.1bps, at 168.00.
  • Gilts have follow suit, dragged lower by Bund, and the spread between Gilt and Bund is just 0.7bp wider.
  • Most of the action for Gilt has been in roll with the pace jumping to 31% vs 8% on the EU open.
  • Looking ahead, Fed’s Bostic Takes Part in Moderated Q&A

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.