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EGB/Gilt - Underpinned this afternoon

BONDS
  • Bund and EGBs are pretty much unchanged this afternoon, trading at mid range.
  • Peripheral remains wider, and Italy leads by 2.3bps, now at 110bps against the German 10yr
  • Gilts have outperformed somewhat, pushing the Gilt/Bund spread 1.3bp tighter today.
  • Looking ahead, ECB's Villeroy speaks in Paris
  • Dec Bund futures (RX) up 5 ticks at 168.7 (L: 168.4 / H: 168.97)
  • Germany: The 2-Yr yield is up 0.3bps at -0.661%, 5-Yr is up 0.1bps at -0.451%, 10-Yr is down 0.8bps at -0.122%, and 30-Yr is down 1.8bps at 0.251%.
  • Dec Gilt futures (G) up 13 ticks at 124.34 (L: 124.11 / H: 124.55)
  • UK: The 2-Yr yield is down 0.8bps at 0.639%, 5-Yr is down 0.6bps at 0.814%, 10-Yr is down 1.7bps at 1.123%, and 30-Yr is down 2bps at 1.338%.
  • Dec BTP futures (IK) down 21 ticks at 151.08 (L: 151.07 / H: 151.6)
  • Dec OAT futures (OA) down 3 ticks at 165.02 (L: 164.8 / H: 165.37)
  • Italian BTP spread up 2.3bps at 110.2bps
  • Spanish bond spread up 1.4bps at 63.8bps
  • Portuguese PGB spread up 2.4bps at 52.8bps
  • Greek bond spread up 1.4bps at 115.8bps

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