June 28, 2022 14:22 GMT
- A very choppy session for today, EGBs and Bund fell throughout the day, reversing the whole of last week's rally.
- Bund trades in another impressive 208 ticks range (144.72/146.80 L/H).
- Peripheral spread stays tight as Bund underperforms, Greece and Italy are in the lead, bot at circa 6bps.
- Gilt is faring a little better, although still down 102 ticks at the time of typing.
- Gilt/Bund spread is 2bps tigther.
- Looking ahead, attention turns to tomorrow, with the Regional and National German CPI.
- And another day with plenty more speakers, that includes ECB Lagarde, de Guindos, Schnabel, BoE Bailey, Swati, Fed Powell, Mester, Bullard.
- Gilt futures are down 102 ticks at 112.07
- Bund futures are down -1.19 today at 145.30 with 10y Bund yields up 9.1bp at 1.635% and Schatz yields up 5.8bp at 0.936%.- BTP futures are down -0.20 today at 120.52 with 10y yields up 4.8bp at 3.558% and 2y yields up 0.3bp at 1.433%.
- OAT futures are down -1.06 today at 136.04 with 10y yields up 10.6bp at 2.182% and 2y yields up 6.0bp at 0.792%.