October 04, 2022 14:13 GMT
- Another very volatile session for EGBs, Bund and Gilt.
- EGBs and Bund have been unwinding this morning's rally, most of the afternoon, as desk squares.
- Given the drop in OI in Bund, rallies suggest short covers on the move higher in the contract.
- German 5s/30s leans steeper, but trade at mid range at the time of typing.
- Peripheral spreads sees Greece leading and 7bps tighter against the German 10yr.
- A wild session for Gilt and the longer end 20yr and 30yr Yield.
- The 20yr and 30yr Yield extended higher after the BoE operation's results.
- No offers accepted by the BOE in today's op.
- GBP2.2256bln offers rejected.
- Looking ahead, ECB Lagarde and Fed Jefferson, Daly are still scheduled to speak.