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EGB/Gilt - Gilt outperform Germany

BONDS
  • Bund and EGBs have stuck within the morning ranges, but trades in the green, after Equities pull back from their best levels..
  • Peripherals are tighter, Spain in the lead by 1.3bp.
  • Gilt are outperforming Bunds, translating in a tighter Gilt/Bund spread, 3.1bps.The spread is actually at tightest level in a week, since last Friday.
  • Looking ahead, Fed Evans and Daly are still scheduled.
  • Gilt futures are up 0.59 today at 126.40 with 10y yields down -5.1bp at 0.910% and 2y yields down -4.4bp at 0.511%.
  • Bund futures are up 0.42 today at 171.19 with 10y Bund yields down -2.3bp at -0.271% and Schatz yields down -1.3bp at -0.748%
  • BTP futures are up 0.57 today at 151.88 with 10y yields down -3.7bp at 0.937% and 2y yields down -2.8bp at -0.294%
  • OAT futures are up 0.55 today at 167.33 with 10y yields down -3.3bp at 0.076% and 2y yields up 0.8bp at -0.802%.

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