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EGB / gilt: Taking a bit of a breather after huge moves earlier

BONDS

The last 20 minutes or so has seen gilts / EGBs take a bit of a breather. The highs of the day were hit around 9:45GMT / 10:45CET with fixed income then coming off the peak as North Americans started to get to their desks. There have been no real changes to the situation since 7:00GMT / 8:00CET this morning when it was announced that HSBC would be purchasing the UK operations of SVB for a nominal fee.


  • Gilt futures are up 1.10 today at 103.57 (from peak of 104.95) with 10y yields down -13.6bp at 3.501% and 2y yields down -16.8bp at 3.460%.
  • Bund futures are up 1.82 today at 135.55 (from peak of 137.02) with 10y Bund yields down -19.7bp at 2.307% and Schatz yields down -31.5bp at 2.767%.
  • BTP futures are up 0.94 today at 114.68 (peak of 115.55) with 10y yields down -13.1bp at 4.182% and 2y yields down -22.9bp at 3.340%.
  • OAT futures are up 1.59 today at 129.88 (peak of 131.27) with 10y yields down -17.9bp at 2.831% and 2y yields down -32.3bp at 2.886%.

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