MNI BRIEF: BOJ Tankan To Show Slipping Sentiment

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

BRIEF: EU-Mercosur Deal In Final Negotiations - EC

MNI China Daily Summary: Thursday, Dec 5

MNI BRIEF: China Construction Output Slows In November

US EIA:NAT GAS STORAGE -30 BCF TO 3,937 BCF NOV 29 WK

MNI: CANADIAN OCT TRADE BALANCE CAD -0.9 BILLION

MNI: US OCT TRADE GAP -$73.8B VS SEP -$83.8B

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

EGB/Gilt: PEPP Debate Heating Up

BOND SUMMARY

EGBs have continued to broadly weaken this morning following yesterday's strong inflation reading for the euro area.

  • The ECB's Stournaras suggested that the inflation surge will be temporary and that the GC should be cautious. This contrasts with yesterday's relatively hawkish comments from Klaas Knot.
  • German retail sales for July missed by a wide margin (-0.3% Y/Y vs 3.6% survey), while UK property prices continued to soar in August (11.0% Y/Y vs 8.6% survey). Elsewhere, Italian and Spanish manufacturing PMI data for August came in a touch higher than expected.
  • Supply this morning came from the UK (Gilt, GBP2.5bn) and Germany (Bobl, EUR3.296bn). In addition the regular auctions, Germany has received EUR18bn in bids for a new Aug-52 bund via syndication, while Greece has opened booked on a dual tranche of 5Y and 30Y bonds (combined book size last seen around EUR14bn).
  • The bund curve is marginally steeper this morning with the 2s30s spread 2bp wider.
  • It is a similar story for OATs with the curve 2bp steeper.
  • BTPs have lacked direction and now trade near yesterday's close.
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.