Free Trial

EGB/Gilt - BTPs Underperform

BOND SUMMARY

European sovereign bonds have traded weaker morning with Italian BTPs underperforming.

  • Gilts opened lower and have traded sideways through the morning. Cash yields are 1-2bp higher on the day with the short-end/belly underperforming.
  • Bunds yields have drifted higher with the curve marginally steeper.
  • OATs trade broadly in line with bunds. Yields are 1-2bp higher with the curve 1bp steeper.
  • BTPs have led the EGB selloff. Yields are the longer end are 4bp higher.
  • The German IFO survey for April came in weaker than consensus with the expectations component reading 99.5 vs 101.2 survey.
  • Supply this morning came from Germany (Bubills, EUR3.746bn allotted) and the ESM (10Y, EUR2bn)

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.