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EGB/Gilt - Another Historical session

BONDS
  • Another historical fast market session for Global Govies, as Yields continue to plummet
  • Latest US ISM miss provided another leg higher for Futures in Bonds and Rates, as investors unwind rate hike expectation, with recession right at the forefront.
  • This has been the trend of late.
  • Bund trades in a 303 ticks range. Italian BTP, nearly 400 ticks, and US Tnotes just short off 200 ticks.
  • German 2yr yield sets the biggest weekly range on record.
  • Peripherals are all tighter, beside Greece that trades flat against the German 10yr.
  • Italy is in the lead, by 9bps, down to 182.5bps.
  • Gilt is also up 213 tick at the time of typing, while the Gilt/Bund spread sits 4.7bps tighter.
  • Looking ahead, ECB's de Cos speaks at CEMFI event in Madrid.
  • Sep Bund futures (RX) up 223 ticks at 151.01 (L: 148.24 / H: 151.27).
  • Germany: The 2-Yr yield is down 21bps at 0.439%, 5-Yr is down 18.5bps at 0.882%, 10-Yr is down 12.9bps at 1.207%, and 30-Yr is down 5.9bps at 1.556%.
  • Sep Gilt futures (G) up 212 ticks at 116.1 (L: 113.79 / H: 116.14)
  • UK: The 2-Yr yield is down 22.8bps at 1.614%, 5-Yr is down 20.9bps at 1.684%, 10-Yr is down 17bps at 2.059%, and 30-Yr is down 12.7bps at 2.437%.
  • Sep BTP futures (IK) up 289 ticks at 126.01 (L: 122.53 / H: 126.31)
  • Sep OAT futures (OA) up 231 ticks at 140.84 (L: 138.04 / H: 141.1)
  • Italian BTP spread down 8.9bps at 183.9bps
  • Spanish bond spread down 6.3bps at 102.4bps
  • Portuguese PGB spread down 4.2bps at 103.7bps
  • Greek bond spread up 2bps at 230bps
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  • Another historical fast market session for Global Govies, as Yields continue to plummet
  • Latest US ISM miss provided another leg higher for Futures in Bonds and Rates, as investors unwind rate hike expectation, with recession right at the forefront.
  • This has been the trend of late.
  • Bund trades in a 303 ticks range. Italian BTP, nearly 400 ticks, and US Tnotes just short off 200 ticks.
  • German 2yr yield sets the biggest weekly range on record.
  • Peripherals are all tighter, beside Greece that trades flat against the German 10yr.
  • Italy is in the lead, by 9bps, down to 182.5bps.
  • Gilt is also up 213 tick at the time of typing, while the Gilt/Bund spread sits 4.7bps tighter.
  • Looking ahead, ECB's de Cos speaks at CEMFI event in Madrid.
  • Sep Bund futures (RX) up 223 ticks at 151.01 (L: 148.24 / H: 151.27).
  • Germany: The 2-Yr yield is down 21bps at 0.439%, 5-Yr is down 18.5bps at 0.882%, 10-Yr is down 12.9bps at 1.207%, and 30-Yr is down 5.9bps at 1.556%.
  • Sep Gilt futures (G) up 212 ticks at 116.1 (L: 113.79 / H: 116.14)
  • UK: The 2-Yr yield is down 22.8bps at 1.614%, 5-Yr is down 20.9bps at 1.684%, 10-Yr is down 17bps at 2.059%, and 30-Yr is down 12.7bps at 2.437%.
  • Sep BTP futures (IK) up 289 ticks at 126.01 (L: 122.53 / H: 126.31)
  • Sep OAT futures (OA) up 231 ticks at 140.84 (L: 138.04 / H: 141.1)
  • Italian BTP spread down 8.9bps at 183.9bps
  • Spanish bond spread down 6.3bps at 102.4bps
  • Portuguese PGB spread down 4.2bps at 103.7bps
  • Greek bond spread up 2bps at 230bps