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EGB/Gilt - Gilt outperforms

BONDS
  • A steady session for EGBs and Bund, with contract taking their cue from the risk on tone, and trading lower, but within ranges.
  • March is front Month since yesterday, but another 100k of the volume in Bund is attributed to spreads, ahead of expiry tomorrow.
  • Peripheral spreads are tighter, Greece by 2.4bps.
  • Gilts have traded close to its German counterpart, but have nonetheless outperformed somewhat, with Gilt flat at the time of typing and translating into a 1.1bp tighter spread versus the German 10yr
  • Gilt futures are up 1 tick at 127.14.
  • Bund futures are up 0.34 today at 178.65 with 10y Bund yields down -2.5bp at -0.677% and Schatz yields down -0.4bp at -0.884%.
  • BTP futures are up 0.68 today at 140.83 with 10y yields down -4.3bp at 1.462% and 2y yields down -0.9bp at 0.054%.
  • OAT futures are up 0.24 today at 169.98 with 10y yields down -1.5bp at -0.387% and 2y yields down -0.2bp at -0.775%.

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