Free Trial

EGB/Gilt: Soft Start

BOND SUMMARY

European sovereign bonds have broadly started the week on a soft note, while equities and FX are trading mixed.

  • Following a strong open, gilts initially sold off but soon recovered lost ground to trade marginally above the Friday close. The curve is a touch steeper on the back of the short-end outperforming.
  • Bunds similarly sold but loss recovery has been limited so far. Cash yields are within 1bp of the Friday close.
  • OATs are broadly 1bp higher on the day, with the curve close to flat overall. Last yields: 2-year -0.400%, 5-year -0.6046%. 10-year -0.0974%, 30-year 0.7737%.
  • BTPs have underperformed core EGBs with cash yields 1-2bp higher.
  • UK mortgage approvals for February came in lower than expected at 87.7k vs 95.0k survey.

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.