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Expiries for Jan24 NY cut 1000ET (Source DTCC)

CANADA

Govt Bonds Unwind Early Week Sell-Off

MNI EXCLUSIVE

Parliamentary Budget Watchdog On Canada's Fiscal Path

WHITE HOUSE

Administration Denies Scholz Snub

FED

NY Fed Operational Purchase

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  • Bund and EGBs trade mixed this afternoon with some dislocation, as Bund trade in the red, while BTP is in the Green and Gilts are flat, and OATs are also in negative territory.
  • Bund are now off the lows, after some decent selling emerged in Equities, as desk take profit, squares ahead of the weekend, and park cash into safer haven.
  • Peripheral spread are all tighter against the German 10yr, Spain lead by 2bps at 72.6bps.
  • As noted Gilts are trading close to flat on the session, and this has in turn pushed the Gilt/Bund spread tighter by 2.2bps this afternoon.
  • Looking ahead, after market, sees rating by Fitch on Italy, DBRS on Germany.
  • Gilt futures are down -0.01 today at 126.58 - Bund futures are down -0.21 today at 172.54 with 10y Bund yields up 0.9bp at -0.363% and Schatz yields up 1.3bp at -0.733%.
  • BTP futures are down -0.01 today at 151.77 with 10y yields down -0.1bp at 0.952% and 2y yields up 0.9bp at -0.214%
  • OAT futures are down -0.18 today at 168.50 with 10y yields up 0.7bp at -0.5% and 2y yields up 0.9bp at -0.788%.