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EGB/Gilt - Attention turns to the UK CPI tomorrow

BONDS
  • A more range bound afternoon session for Bund this afternoon, after investors favoured fading some of the downside in Futures, a touch ahead of the 0.000% yield resistance.10yr yield tested -0.005%, and a 169.35 low in Futures.
  • Bund is back to trading flat at the time of typing, with investors hunting for yields.
  • Peripherals are all wider, Portugal is in the lead, by 1.5bp.
  • Gilt has overall traded close to inline with Bund, albeit wider on the session.
  • Resistance in the Gilt/Bund spread is at 122.0649, widest level since November.
  • Looking ahead, all the attention turns to the UK CPI tomorrow morning.
  • Gilt futures are down -0.20 today at 122.83 with 10y yields up 1.8bp at 1.203% and 2y yields up 2.1bp at 0.849%.
  • Bund futures are down -0.08 today at 169.57 with 10y Bund yields up 0.8bp at -0.19% and Schatz yields down -0.7bp at -0.578%.
  • BTP futures are down -0.17 today at 145.50 with 10y yields up 1.6bp at 1.308% and 2y yields down -0.1bp at -0.91%.
  • OAT futures are down -0.10 today at 161.70 with 10y yields up 1.2bp at 0.367% and 2y yields unch at -0.645%.
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