MNI BRIEF: Fed's Williams Says There's No Urgency To Cut Rates

WILLIAMS: NOT BASE CASE TO RAISE RATES FURTHER

MNI: FED'S WILLIAMS: DON'T FEEL URGENCY TO CUT INTEREST RATES

MNI BRIEF: Beijing Opposes U.S. Measures Against Chinese Steel

MNI China Daily Summary: Thursday, April 18

MNI BRIEF: M2 Growth To Slow On Weak Demand - PBOC's Zou

US EIA:NAT GAS STORAGE +50 BCF TO 2,333 BCF APR 12 WK

MNI: US NAR: MAR EXISTING HOME SALES 4.19M SAAR

MNI: US APR PHILADELPHIA FED MFG INDEX 15.5

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

EGB/Gilt - BoE delivered its 50bps hike

BONDS
  • EGBs and Bund have rallied this afternoon, led by the UK and the BoE rate decision.
  • The Central Bank delivered the expected 50bps hike to 1.75%, but noted that the country will be entering into recession from the 4th Quarter.
  • They forecast inflation over 13% and the economy to shrink 2%.
  • Semi core in Europe led the way, pushing peripheral spread tighter, but off their respective lows at the time of typing.
  • Portugal/Bund spread edged towards 100.00, now at 101.03, with next support seen at 99.14bps, printed on Monday.
  • This is also the tightest level since 21st April.
  • For core, OAT/Bund now trades at lowest (tightest) level since the start of July, at 54.4bps.
  • Support is seen at the July low 52.99.
  • For the Gilts, the UK The 2s10s curve inverted for the first time since 2019., following the grim forward growth outlook for the country.
  • Gilt and Bund are still trading in line, and the spread is flat on the session.
  • Looking ahead, Fed’s Mester discusses the Economic outlook, but all the attention is now on the US NFP tomorrow.
HomepageBulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.