MNI BRIEF: ECB Cut On Disinflationary Process Trust-Centeno

CANADA MAY JOBS +26.7K VS FORECAST +20K, PRIOR +90.4K

MNI China Daily Summary: Friday, June 7

MNI BRIEF: Mexico Inflation 4.69% In May, Below Consensus

MNI BRIEF: China May Forex Reserves Rise On Weakened Dollar

MNI BRIEF: China Service Trade Grows Rapidly, Deficit Expands

MNI: US APR CONSUMER CREDIT +$6.4B

MNI: BAKER HUGHES US RIG COUNT 594; OIL RIGS 492; GAS RIGS 98

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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

EGB/Gilt: UK Inflation Beats; Focus On FOMC

BOND SUMMARY

European sovereign bonds have traded weaker this morning with gilts underperforming following a higher than expected inflation print. European equities and global FX trade mixed ahead of today's Fed meeting.

  • UK CPI surprised higher in November (4.6% Y/Y vs 4.4% expected) adding to the body of evidence of wide-spread inflation pressure across the global economy and coming just ahead of a key BoE MPC meeting this week.
  • Gilt cash yields are now 4-6bp higher with the curve bear flattening.
  • Bunds have weakened a touch with cash yields 1-2bp higher on the day.
  • OATs started the session on a firm footing before selling off through mid-morning and now trade close to flat on the day.
  • The BTP curve has flattened with the 2s30s spread 2bp narrower as a result of the short-end trading weaker and longer-end yield inching lower.
  • There was no European supply this morning.
  • Near-term focus will be on US retail sales ahead of the FOMC meeting later today.
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.