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EGB/Gilt - Risk On drives assets

BONDS
  • Another wide range session for EGBs and Bund, but once again volumes have been more limited.
  • Bund is down 148 ticks and has traded in a 187 ticks range.
  • Similar price action for peripheral, but Bund has been the fastest mover to the downside, translating in tighter spreads.
  • Greece lead and is 5.9bps tighter.
  • Gilt is down 93 ticks at the time of typing, and here also, the contract trade in a 137 ticks range.
  • Gilt/Bund spread is 2.3bp tighter.
  • Moves have been led by some recovery in Risks, with Equity extending higher on the US cash Equity open.
  • Gilt futures are down94 ticks at 122.36
  • Bund futures are down -5.02 today at 163.47 with 10y Bund yields up 10.2bp at 0.211% and Schatz yields up 11.2bp at -0.515%.
  • BTP futures are down -0.39 today at 142.81 with 10y yields up 8.5bp at 1.679% and 2y yields up 5.3bp at -0.10%.
  • OAT futures are down -3.98 today at 156.03 with 10y yields up 9.6bp at 0.652% and 2y yields up 10.1bp at -0.437%.

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