November 09, 2022 15:30 GMT
EGB/Gilt - Gilt outperforms
BONDS
- EGBs and Bund remain in the green this afternoon, with volumes still fairly subdued, but decent ranges overall.
- Reports that Russian troops were ordered to leave Ukraine’s city of Kherson, has lifted futures to their high of the session
- Peripheral spreads are all wider, Greece in the lead by 5bps.
- Gilt outperforms EGBs somewhat, but the Gilt/Bund spread is only 0.6bps wider at 127.00, as the 120.00 support continues to hold last week and this week.
- Looking ahead, Fed Barkin and BoE Cunliffe are still scheduled., but all eyes are on the US CPI tomorrow.
- Dec Bund futures (RX) up 80 ticks at 137.89 (L: 136.92 / H: 137.94)
- Germany: The 2-Yr yield is down 11bps at 2.214%, 5-Yr is down 8.2bps at 2.117%, 10-Yr is down 7.6bps at 2.205%, and 30-Yr is down 6.8bps at 2.117%.
- Dec Gilt futures (G) up 135 ticks at 103.06 (L: 101.6 / H: 103.13)
- UK: The 2-Yr yield is down 0.3bps at 3.251%, 5-Yr is down 4.1bps at 3.463%, 10-Yr is down 7.7bps at 3.475%, and 30-Yr is down 14.2bps at 3.596%.
- Dec BTP futures (IK) up 61 ticks at 114.75 (L: 113.8 / H: 114.92)
- Italy / German 10-Yr spread 0.9bps wider at 212.1bps
- Dec OAT futures (OA) up 76 ticks at 132.59 (L: 131.6 / H: 132.63)
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