MNI: POWELL SAYS RATE CUT COULD BE ON TABLE AS EARLY AS SEPT.

MNI: FOMC Statement Comparison: July vs June

MNI: FED HOLDS RATES AT 5.25%-5.5%, VOTE 12-0

MNI China Daily Summary: Wednesday, July 31

MNI: PBOC Net Injects CNY185.57 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1346 Weds; -1.39% Y/Y

EZ/UK Bond Supply Calendar: Spain, France Auction on Thursday

US EIA: CRUDE OIL STOCKS EX SPR -3.44M TO 433.0M JUL 26 WK

MNI: US NAR JUN PENDING HOME SALES INDEX 74.3 V 70.9 IN MAY

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

EGBs and Treasuries are edging higher

BUNDS
  • After pushing lower post US IJC beat, Bund and EGBs have seen some short covering going into the later part of the European session.
  • Bund is testing initial resistance seen at 128.00, and above the latter would see 128.45, although did print a 128.50 high on Monday.
  • Focus in Peripheral spreads has been on the BTP/Bund spread, which sit 3.7bps wider and above the March high at the time of typing.
  • Investors will be watching the Psychological 200.00bps, but initial resistance comes at 202.45bps.
  • Gilt has mostly traded inline with the German Bund, translated in a flat Gilt/Bund spread.
  • Comments from BoE’s Broadbent weren’t market moving. He pointed to clear signs that rate rises were having an impact, along with more resilient than expected demand and suggestions that the UK inflation profile is similar to that seen elsewhere (envisaging a move back to target in ~2 years).
  • After leading EGBs and Gilt lower following the US Data, US Treasuries have also recovered from their intraday lows, with TYZ3 back in the green, although the 20yr and 30yr futures are still lagging the shorter end part of the curve, and still lean in the red
  • .Looking ahead, ECB Villeroy, Nagel, Fed Kashkari, Daly Barr are still scheduled to speak.
  • But attention will now turn to the USD NFP/AHE Tomorrow.
HomepageBond Market NewsBulletMarketsFixed 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.