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EGB/Gilt - Attention turns to the US NFP tomorrow

  • A more steady afternoon session for EGBs and Bund, but still a 150 ticks range for the Bund.
  • Most investors are on the sideline, as they await the more important US NFP tomorrow.
  • Peripheral spreads have widened against the German 10yr, Greece is in the lead by 15.2bps.
  • Gilt are off the low, but 60 ticks down at the time of typing, and outperforms Bund.
  • A decent wide range session for Gilt, at 99 ticks, with below average volumes.
  • Looking ahead, BoE Pill, Fed Waller and Bullard are the scheduled speakers.
  • Sep Bund futures (RX) down 123 ticks at 150.7 (L: 150.15 / H: 151.65).
  • Germany: The 2-Yr yield is up 12.4bps at 0.512%, 5-Yr is up 10.7bps at 0.928%, 10-Yr is up 8bps at 1.286%, and 30-Yr is up 4bps at 1.563%.
  • Sep Gilt futures (G) down 64 ticks at 115.31 (L: 114.66 / H: 115.65)
  • UK: The 2-Yr yield is up 6.7bps at 1.82%, 5-Yr is up 5.1bps at 1.797%, 10-Yr is up 2.4bps at 2.116%, and 30-Yr is up 1.1bps at 2.549%.
  • Sep BTP futures (IK) down 151 ticks at 123.66 (L: 123.02 / H: 124.95)
  • Sep OAT futures (OA) down 97 ticks at 140.1 (L: 139.38 / H: 140.87)
  • Italian BTP spread up 5bps at 199.8bps
  • Spanish bond spread up 2.6bps at 109.9bps
  • Portuguese PGB spread up 3.4bps at 111bps
  • Greek bond spread up 15.6bps at 224.8bps

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