Free Trial

EGB/Gilts - Remains supported after the US Michigan miss

  • EGBs and Bund have paired losses, and make new session high, the timing of the squeeze higher on reports that the Netherlands were heading back into lockdown this weekend.
  • Tension in Ukraine/Russia, and Belarus/EU is also in focus supporting safer haven.
  • US Michigan missed expectation and kept a bid into Tnotes and in turn Europe.
  • Peripheral spreads are all wider this afternoon, with Greece by 4.7bps.
  • Gilts have also lagged today, translating in a Gilt/Bund wider spread, by 2bps.
  • Looking ahead, Fed Williams is still scheduled.
  • After markets, Ratings from Fitch on Portugal and S&P on Netherlands
  • Dec Bund futures (RX) up 59 ticks at 171.01 (L: 170.32 / H: 171.07)
  • Germany: The 2-Yr yield is down 4.8bps at -0.741%, 5-Yr is down 5.1bps at -0.567%, 10-Yr is down 3.2bps at -0.263%, and 30-Yr is down 1.8bps at 0.055%.
  • Dec Gilt futures (G) up 13 ticks at 126.46 (L: 126.1 / H: 126.6)
  • UK: The 2-Yr yield is down 4.7bps at 0.518%, 5-Yr is down 4.1bps at 0.664%, 10-Yr is down 1.7bps at 0.903%, and 30-Yr is up 0.5bps at 1.065%.
  • Dec BTP futures (IK) up 5 ticks at 151.59 (L: 150.72 / H: 151.78)
  • Dec OAT futures (OA) up 48 ticks at 167.02 (L: 166.31 / H: 167.06)

To read the full story


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.