Free Trial

EGB/Gilt: Clawing Back

BOND SUMMARY

European sovereign bunds have pushed higher this morning and continue to claw back some of the recent losses.

  • Gilts have firmed with yields 1bp lower on the day and the curve close to flat overall.
  • Bund yields have similarly edged down 1bp.
  • OATs have outperformed bunds on the day with yields 1-2bp lower.
  • BTPs have outperformed core EGBs with yields pushing down 2-5bp and the curve bull flattening.
  • German industrial output for August came in worse than expected (1.7% Y/Y vs 5.0% survey).
  • Supply this morning came from France (OATs, EUR10.999bn), Spain (Bono/Obli/Boli-Ei, EUR4.925bn).
  • The ECB's Holzman, Lane and Schnabel are due to speak later today.

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.