DALY SEES 'NO URGENCY TO ADJUST THE POLICY RATE'

MNI BRIEF: Fed’s Collins Sees Rate Cuts Later Than Had Thought

MNI BRIEF: China March M2 Slows More Than Expected

MNI BRIEF: China Tightens Stock Market Supervision

MNI BRIEF: China Mar Exports Jump On Demand; Imports Improve

MNI: PBOC Sets Yuan Parity Lower At 7.0967 Fri; -4.87% Y/Y

MNI: BAKER HUGHES US RIG COUNT 617; OIL RIGS 506; GAS RIGS 109

March Home Sales Jumped At End Of Month

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

EGB/Gilt: Inching Lower Ahead of NFP

BOND SUMMARY

European government bonds have traded weaker this morning with gilts underperforming and equities and FX mixed.

  • Final European services PMI data were broadly in line with original estimates. Focus today will be on US NFP.
  • Supply this morning came from the UK (Bills, GBP3bn).
  • Gilts initially opened a firm footing but soon started to sell off, with the longer end of the curve underperforming. Cash yields are 1-2bp higher with the curve 1bp steeper.
  • Bunds have similarly sold off following a strong start, with yields now hovering around yesterday's close.
  • OATs are now unchanged on the day.
  • BTPs have undperformed core EGBs with yields broadly 1-3bp higher on the day.
  • The ECB will take centre stage next week. Indications from GC members on the possibility of a PEPP adjustment have been mixed, with the genuinely positive economic outlook competing with concerns over the Delta variant.
Homepagemarkets-real-timeBulletMarketsFixed Income Bullets

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.