MNI BRIEF: US May Existing Home Sales Pace Falls 0.7% To 4.11M

MNI INTERVIEW2: Uninsured Bank Deposits Still Vulnerable-Bair

CANADA APR RETAILS +0.7%, MATCHING FORECAST, PRIOR -0.3%

MNI BRIEF: China Hopes EU To Ease Frictions Via Negotiations

MNI: PBOC Net Injects CNY8 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.1196 Fri; -1.41% Y/Y

MNI: BAKER HUGHES US RIG COUNT 588; OIL RIGS 485; GAS RIGS 98

EZ/UK Bond Supply Calendar: EU Auction, BoE APF Monday

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

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

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

EGB/Gilt: Evergrande Deal Sets Stage For Risk Recovery

BOND SUMMARY

European sovereign bonds are broadly weaker while equities edge higher ahead of today's FOMC meeting.

  • An agreement between Evergrande and its bondholders over interest payments on a domestic bond have soothed fears of imminent default and contagion to international markets.
  • The gilt curve has bear steepened with the 2s30s spread widening by 2bp.
  • Bunds are a touch weaker with the curve 1bp steeper.
  • It is a similar story for OATs, which trade in line with bunds.
  • BTPs have firmed and trade marginally above yesterday's closing levels.
  • Supply this morning came from the UK (Gilt linker, GBP350mn), Germany (Bund, EUR1.862bn) and the EU (Bills, EUR3.993bn). Portugal also organised an OT exchange selling EUR279mn of the 2.125% Oct-28 OT and EUR235mn of the 2.25% Apr-34 OT to buy EUR330mn of the 2.20% Oct-22 OT and EUR184mn of the 5.65% Feb-24 OT.
  • US President Joe Biden appears to have dashed UK hopes of a swift bilateral trade deal.
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.