Free Trial

EGBs are trading little changed to......>

EGB SUMMARY
EGB SUMMARY: EGBs are trading little changed to mixed at start of Friday's
European session with mild support seen from overnight tick higher in US
Treasuries but weighed by upbeat German factory orders as markets look ahead to
key US payroll and average hourly earnings data.
- German 10-year yield is +0.3bp at 0.455%, while the 30-year part of the yield
curve is marginally underperforming.
- Overnight US Treasuries remained underpinned by news of courts in the US
issuing subpoenas in relation to Jump Jr Russian meeting, however 2-yr/30-yr
spread steepened by around 0.5bps.
- Spain is feeling the pressure once again this morning with 10-yr yield 1bp
higher, however front-end is seeing some buying and trading close to month lows.
- German June factoring orders came in higher than expected, rising 1% m/m, but
the markets seems to be taking it in its stride. Little further Eurozne data
released today, so attention turning firmly to key US non-farm payroll data this
afternoon, with risk seen to the upside to MNI median forecast of +181k.

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.