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EGB/Gilt - More widening in the spread

BONDS
  • EGBs and Bund saw a more range bound afternoon session following this morning's sell off.
  • Fast Money desk were seen fading on profit taking, after European Bonds traded in oversold territory.
  • Peripherals are wider against the German 10yr, with Italy in the lead by 2.3bps.
  • Gilts have unperformed once again, as investors continue to price in Faster pace of rate hikes for the US and the UK versus Europe.
  • Gilt/Bund spread is wider by 4.4bps, and at widest levels since the 25th November.
  • Looking ahead, Fed Daly and Bullard are scheduled to speak.
  • Mar Bund futures (RX) down 42 ticks at 170.33 (L: 169.95 / H: 170.61)
  • Germany: The 2-Yr yield is up 2.1bps at -0.599%, 5-Yr is up 3bps at -0.401%, 10-Yr is up 2.2bps at -0.062%, and 30-Yr is up 0.3bps at 0.265%.
  • Mar Gilt futures (G) down 68 ticks at 123.24 (L: 123.2 / H: 123.53)
  • UK: The 2-Yr yield is up 4.9bps at 0.811%, 5-Yr is up 5.2bps at 0.969%, 10-Yr is up 6.5bps at 1.152%, and 30-Yr is up 7.5bps at 1.277%.
  • Mar BTP futures (IK) down 57 ticks at 145.72 (L: 145.36 / H: 146.04)
  • Mar OAT futures (OA) down 48 ticks at 162.42 (L: 162.09 / H: 162.73)
  • Italian BTP spread up 2.6bps at 134.5bps
  • Spanish bond spread up 0.6bps at 68.8bps
  • Portuguese PGB spread up 0.5bps at 59.9bps
  • Greek bond spread up 0.6bps at 146.7bps
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