MNI China Daily Summary: Wednesday, Aug 28

MNI DATA TABLE: MNI China Interbank Liquidity Index (Aug) - 3

MNI DATA TABLE: MNI China Interbank Liquidity Index (Aug) - 2

MNI: PBOC Net Injects CNY19.3 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1216 Weds; +2.31% Y/Y

CHINA PBOC CONDUCTS CNY277.3 BILLION VIA 7-DAY REVERSE REPOS WEDS

US MBA: REFIS -0.1% SA; PURCH INDEX +1% SA THRU AUG 23 WK

MNI: US MBA: MARKET COMPOSITE +0.5% SA THRU AUG 23 WK

MNI: FRANCE AUG CONSUMER SENTIMENT 92

UK: Week Ahead

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

EGB/Gilt: Curves Flatten

BOND SUMMARY

European sovereign curves have flattened this morning while equities have broadly pushed higher.

  • Gilts have firmed across the curve with the long-end outperforming. The curve has flattened 2-3bp.
  • The German curve has similarly flattened, but on the back of the short end trading softer and the longer end gaining. The 2s30s spread has narrowed 3bp on the day.
  • It is a similar story for BTPs where the very long end of the curve has flattened 1bp
  • Pressure on the UK PM is mounting as the fallout from an alleged Downing St party during a period of tightened Covid restrictions continues to rumble on.
  • Tier one data was relatively light this morning. Dutch CPI accelerated sharply in December, with the EU harmonized measure reading 6.4% Y/Y up from 5.9% in November.
  • Supply this morning came from the UK (Gilt, GBP3.0bn), Germany (Linker, EUR630mn allotted), Spain (Letras, EUR5.518bn), the Netherlands (DSL, EUR4.705bn), Belgium (TCs, EUR2.186bn), Austria (RAGBs, EUR1.3 allotted) and the ESM (Bills, EUR1.094bn). In addition, Spain is launching a 10-year bond via syndication with volume of EUR10bn and book size in excess of EUR63bn).
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.