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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.
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Free AccessEGB/GILT: European govies have.........>
BOND SUMMARY: EGB/GILT: European govies have rallied this morning with markets
showing little difficulty in absorbing substantial supply from France and Spain.
Equities are rallying alongside broad FX strength versus the USD.
- The gilt curve has bull flattened with cash yields 1-3bp lower. The Sep-20
gilt future trades at 137.25, near the middle of the day's range.
- Bunds are similarly bid with the curve trading flat overall.
- OAT have marginally outperformed bunds with yields 2-3bp lower on the day.
Current yield levels: 2-year -0.3452%, 5-year -0.4979%, 10-year -0.0936%,
30-year 0.6404%.
- BTPs have similarly firmed with the longer end marginally outperforming.
- Supply today came from the UK (Gilts, GBP5.5bn), France (OATS, EUR11.75bn) and
Spain (Bonos/Oblis/OBLIEis, EUR6.75bn).
- Focus this afternoon will be on the US nonfarm payrolls report for June, which
follows in the wake of yesterday's substantial ADP revision for May.
To read the full story
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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.