FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

EGB/Gilt: Broad Gains​

BOND SUMMARY

European sovereign bonds have rallied this morning alongside gains for equities and commodities.

  • Gilts opened higher and have gradually given up some of the early gains, while continuing to trade above Friday's closing levels. Cash yields are 1-3bp lower on the day, with the belly of the curve slightly outperforming. Focus this week will be on the budget this Wednesday with Chancellor of the Exchequer Rishi Sunak strongly hinting at the likelihood of tax rises - if not announced at this week, then at some point in this parliament.
  • Bunds have rallied and the curve has bull flattened. Cash yields have edged down 1-4bp.
  • OATs trade in line with bunds and the curve has similarly flattened. Last yields: 2-year -0.5970%, 5-year -0.5478%, 10-year -0.0589%, 30-year 0.6989%.
  • BTPs have outperformed core EGBs with yields 4-6bp lower.
  • Supply this morning came from Germany (Bubills, EUR5.08bn) and the Netherlands (DTCs, EUR2.15bn).
  • Italian and Spanish manufacturing PMI data for February came in better than expected. German regional CPI data for February has broadly accelerated in Y/Y terms since January.
Homepagemarkets-real-timeBulletMarketsFixed Income 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.