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EGBs And Gilts Erase Earlier Gains, Back To Flat

BONDS

EGB and Gilt futures are largely unchanged Monday, with periphery spreads fairly flat.

  • While trading ranges have been decent (Bund 100 ticks, Gilt 123 ticks), net changes are limited after mid-afternoon trade reversed the gains made mostly in the late morning as US traders returned from Friday's cash holiday.
  • Not many specific catalysts to the price action, though the afternoon weakness has come alongside a jump in risk assets (Eurostoxx hitting 8-month highs).
  • Attention for the remainder of the session is largely on Fed Gov Brainard speaking at 1630GMT.

Latest futures levels:

  • Dec Bund futures (RX) up 3 ticks at 138.55 (L: 138.26 / H: 139.26)
  • Dec Gilt futures (G) up 15 ticks at 104.3 (L: 103.7 / H: 104.93)
  • Dec BTP futures (IK) up 8 ticks at 115.97 (L: 115.58 / H: 116.58)
  • Dec OAT futures (OA) up 4 ticks at 133.28 (L: 132.91 / H: 133.97)
  • Italy / German 10-Yr spread flat at 204.5bps
HomepageBond Market NewsBulletMarketsFixed Income Bullets
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