MNI: Canada Has CAD2.9B Q1 Budget Deficit Vs Prior Surplus

CANADA Q2 ANNUALIZED GDP +2.1% VERSUS +1.7% EXPECTED

MNI China Daily Summary: Friday, Aug 30

MNI BRIEF: China Aug PMI Contracts For Fourth Straight Month

MNI: US JUL PERSONAL INCOME +0.3%; NOM PCE +0.5%

MNI BRIEF: PBOC Bought Net CNY100 Billion CGBs In August

MNI: BAKER HUGHES US RIG COUNT 583; OIL RIGS 483; GAS RIGS 95

EZ/UK Bond Supply Calendar: UK, ESM Syndis; AS, DE Due Tuesday

MNI Chicago Report™: 27% Have Contingency Plans Due to Adverse Weather

AUSTRALIA: Albanese Lines Up Budget for May Election

AUSTRALIA: Albanese Lines Up Budget for May Election

UK: Week Ahead

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

EGB/Gilts- busy start, Gilt underperforms

BONDS
  • A busy start for EGBs and Bund, with futures taking their cue from some of the German regional CPI misses versus last.
  • It's another 223 ticks range for the German 10yr, but are well off the sessions high (147.37), with the contract trading back at 145.62, from a 145.14 low print.
  • Some of the pullback has been attributed to the Spanish CPI big beat, coming at 10% vs median estimates of 8.7%, and likely some position squaring.
  • Peripherals are all tighter, Greece by 4.4bps so far today.
  • Gilts underperforms Bund, pushing the Gilt/Bund spread 2bp wider, but well within ranges.
  • Looking ahead, German National CPI, and out of the US sees third readings for GDP, so more focus on the US PCE.
  • Still plenty of speakers are left, with ECB Schnabel, Lagarde, BoE Bailey, Swati, Fed Powell, Mester and Bullard.
  • Sep Bund futures (RX) up 45 ticks at 145.63 (L: 145.14 / H: 147.37)
  • Germany: The 2-Yr yield is down 2.3bps at 0.934%, 5-Yr is down 4.4bps at 1.389%, 10-Yr is down 2.3bps at 1.605%, and 30-Yr is down 2.3bps at 1.805%.
  • Sep Gilt futures (G) down 2 ticks at 112.13 (L: 111.85 / H: 112.66)
  • UK: The 2-Yr yield is down 2.8bps at 2.088%, 5-Yr is down 1.3bps at 2.129%, 10-Yr is down 0.4bps at 2.461%, and 30-Yr is up 1.3bps at 2.725%.
  • Sep BTP futures (IK) up 93 ticks at 121.12 (L: 120.58 / H: 121.83)
  • Sep OAT futures (OA) up 36 ticks at 136.26 (L: 135.81 / H: 137.57)
  • Italian BTP spread down 5.8bps at 187.4bps
  • Spanish bond spread down 2.1bps at 107.6bps
  • Portuguese PGB spread down 2.5bps at 105.1bps
  • Greek bond spread down 4.9bps at 221.2bps
HomepageBulletMarketsFixed Income BulletsForeign Exchange 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.