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EGB/Gilt - Germany fades off the 0.000% Yield​

BONDS
  • Bund are still down 23 ticks on the session, but some receiving interest around that 0.00% yield level, saw Bund ticking higher and are underpinned going into the end of the European session, as some desks look for Yields.
  • Peripherals are all wider, with Greece the standout, wider by 6.9bps, and close to next resistance of the December high at 168.8644.
  • Gilt is off the session low, but failed to close the upside gap up to 122.42, printed 122.40 high.
  • Gilt/Bund spread is 3.3bps wider and highest since last October, a continuation following the UK CPI beat this morning.
  • Looking ahead, ECB Governing Council member Robert Holzmann, Austrian Finance Minister Magnus Brunner speak at event marking 20 years of the euro currency..
  • Mar Bund futures (RX) down 19 ticks at 169.38 (L: 168.95 / H: 169.49)
  • Germany: The 2-Yr yield is up 0.3bps at -0.567%, 5-Yr is up 0.6bps at -0.338%, 10-Yr is up 1.2bps at -0.006%, and 30-Yr is up 2bps at 0.299%.
  • Mar Gilt futures (G) down 52 ticks at 122.25 (L: 121.93 / H: 122.4)
  • UK: The 2-Yr yield is up 5bps at 0.917%, 5-Yr is up 4.4bps at 1.068%, 10-Yr is up 5bps at 1.267%, and 30-Yr is up 5.2bps at 1.381%.
  • Mar BTP futures (IK) down 17 ticks at 145.28 (L: 144.55 / H: 145.41)
  • Mar OAT futures (OA) down 17 ticks at 161.51 (L: 161.05 / H: 161.61)
  • Italian BTP spread unchanged at 133.5bps
  • Spanish bond spread down 0.2bps at 68.7bps
  • Portuguese PGB spread down 0.2bps at 61.4bps
  • Greek bond spread up 6.8bps at 171.5bps
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