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EGB/Gilt - Ukraine headlines underpins

BONDS
  • EGBs and Bund were pretty stable this afternoon, but this was before, couple of stories hit our screens.
  • Newsweek: "Exclusive: US Warns Ukraine of Full-Scale Russian Invasion Within 48 Hours"
  • And this was followed by report that the Ukraine Gov website was under cyber attack, and went down.
  • Bonds found a bid on the news and are now underpinned.
  • Peripheral spreads are all wider, with Italy and Portugal by 1.5bp.
  • Gilt volumes has been dominated by spread, with the pace jumping to 73% complete.
  • Focus is squarely on the Russia tensions development.
  • Looking ahead, ECB de Cos and Fed Daly are still set to speak.
  • Gilt futures are down -0.13 today at 120.64 with 10y yields up 1.3bp at 1.483% and 2y yields down -2.6bp at 1.304%.
  • Bund futures are down -0.03 today at 165.67 with 10y Bund yields up 0.5bp at 0.246% and Schatz yields up 4.4bp at -0.362%.
  • BTP futures are down -0.06 today at 138.95 with 10y yields up 1.9bp at 1.941% and 2y yields up 2.8bp at 0.189%.
  • OAT futures are down -0.13 today at 156.73 with 10y yields up 1.3bp at 0.746% and 2y yields up 2.8bp at -0.285%.

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