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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.
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Free AccessEGB/Gilt - Gilt underperform
- EGBs and Bund have held onto gains, but are off their highs, as Equities bounce off their lows.
- Bund resistance noted at 154.45 has held, printed 154.43 high, and the contract is now back below 154.00, taking its cue from Risk On/Risk Off moves.
- Peripheral are all tighter against the German 10yr, with Greece in the lead by 4.1bps.
- Gilt has underperformed, pushing the Gilt/Bund spread 4.7bps wider today.
- Most of the action has been in rolling positions into September.
- Over half of the front month volume is spread related, with the pace now running at 40% completion.
- Looking ahead, BoE Tenreyro, Fed Brainard are still yet to speak, but most of the attention turns to the FOMC minutes.
- Gilt futures are down -0.58 today at 118.54 with 10y yields up 2.9bp at 1.915% and 2y yields unch at 1.439%.
- Bund futures are down -0.12 today at 153.82 with 10y Bund yields down -1.6bp at 0.949% and Schatz yields down -3.1bp at 0.335%.
- BTP futures are up 0.19 today at 128.65 with 10y yields down -2.3bp at 2.951% and 2y yields down -4.9bp at 0.895%.
- OAT futures are down -0.05 today at 146.01 with 10y yields down -1.5bp at 1.480% and 2y yields down -3.6bp at 0.224%.
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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.