Gilts have firmed through the morning with the curve bull flattening. Cash yields are 3-5bp lower on the day.
The long end of the bund curve has similarly outperformed with the 2s30s spread narrowing 4bp.
OATs trade in line with bunds. Yields are now 1-5bp lower.
The BTP curve has twist flattened with the 2s30s spread trading down 4bp.
The ECBs Pablo Hernandez de Cos earlier stated that increase rate hikes should be gradual and that inflation will gradually slow towards the 2% target.
Supply this morning came from the UK (UKTBs, GBP2bn) and Italy (BOTs, EUR5bn)
The data focus shifts to US PCE and the University of Michigan consumer confidence update for May.

Homepage markets-real-time Bullet Markets Fixed Income News

Bruce Jeffery

Homepage markets-real-time Bullet Markets Fixed Income News

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EGB/Gilt: Broad Gains