Free Trial

EGB/Gilt - Greece underperforms

BONDS
  • A choppy session for EGBs and Bund, in lower volumes, with Real Money likely on the sideline.
  • Contracts remains in the red at the time of typing, with Italy underperforming Bund this afternoon.
  • In turn, the BTP/Bund spread trades 8.1bps tighter.
  • But Greece is still in the lead, and has widened another 16.8bps against the German 10yr, now widest since April 2020.
  • ECB Visco: "Nothing wrong with a July hike, exit must be more gradual than someone might think."
  • Gilt is also underperforming Bund, and the Gilt/Bund spread sits 3.8bps.
  • Looking ahead, ECB's de Cos at Opening of Exhibition at Belgian Central Bank.
  • After markets, rating from S&P on Ireland and Moody on Portugal.
  • Gilt futures are down -0.50 today at 118.61 with 10y yields up 4.4bp at 1.907% and 2y yields up 2.9bp at 1.507%.
  • Bund futures are down -0.13 today at 153.75 with 10y Bund yields up 0.7bp at 0.954% and Schatz yields down -1.2bp at 0.345%.
  • BTP futures are down -0.91 today at 128.22 with 10y yields up 8.9bp at 2.988% and 2y yields up 4.7bp at 0.956%.
  • OAT futures are down -0.29 today at 146.03 with 10y yields up 2.2bp at 1.474% and 2y yields down -1.1bp at 0.248%.

To read the full story

Close

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.