DALY SEES 'NO URGENCY TO ADJUST THE POLICY RATE'

MNI BRIEF: Fed’s Collins Sees Rate Cuts Later Than Had Thought

MNI BRIEF: China March M2 Slows More Than Expected

MNI BRIEF: China Tightens Stock Market Supervision

MNI BRIEF: China Mar Exports Jump On Demand; Imports Improve

MNI: PBOC Sets Yuan Parity Lower At 7.0967 Fri; -4.87% Y/Y

MNI: BAKER HUGHES US RIG COUNT 617; OIL RIGS 506; GAS RIGS 109

March Home Sales Jumped At End Of Month

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

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

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

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

EGB/Gilt: Core Curves Bull Flattening

BOND SUMMARY

Core European sovereign curves have bull flattened while the EGB periphery has sold off.

  • Gilts have rallied with cash yields 1-4bp lower with the 2s30s spread 3bp narrower.
  • Bunds have marginally outperformed on the day. The 30-year benchmark yield has traded down 5bp.
  • OATs have lagged the rally with yields up to 2bp lower.
  • BTPs have traded slightly weaker. Last yields: 2-year -0.3548%, 5-year 0.1177%, 10-year 0.7380%, 30-year 1.6038%.
  • Supply came from UK (Gilts, GBP2.5bn), Germany (Bund, EUR1.649bn), Italy (BOTs, EUR6.5bn).
  • This morning's data releases were second tier. Spanish retail sales for September printed broadly in line with survey (-3.3% Y/Y SA vs -3.4%).
  • Focus is on tomorrow's ECB meeting. Although the monetary policy stance is expected to remain unchanged, most see this as an opportunity for the ECB to signal further easing at the December meeting. MNI has published its ECB Preview online and by email.
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.