MNI China Daily Summary: Friday, November 15

MNI BRIEF:China Optimistic On Property Despite Investment Fall

MNI BRIEF: China Oct Retail Sales Surge On Holiday, Trade-ins

CORRECTED-MNI INTERVIEW: NBH To Hold Rates

CHINA OCT INDUSTRIAL OUTPUT +5.3% Y/Y VS MEDIAN +5.5% Y/Y: NBS

MNI: PBOC Net Injects CNY968.8 Bln via OMO Friday

US OCT RETAIL SALES $718.9B VS SEP $716.0B

MNI:US OCT RETAIL SALES +0.4%; EX-MOTOR VEH +0.1%

MNI: CANADA SEP WHOLESALE SALES -2.7%; EX-AUTOS +0.6%

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

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

EGBS: Bund Futures Recover From Overnight Lows

EGBS
EurozoneBulletGlobalFixed Income BulletsRegionMarkets

Bund futures are +20 ticks at 132.34, having fully recovered from yesterday evening’s light sell-off (which was driven by cautious comments from Fed Chair Powell).

  • The uptick in US Treasuries has set the tone for core FI this morning, though Bund futures appeared to find some support from a report that the German Finance Minister will not submit a so-called adjustment proposal for the 2025 federal budget to the Bundestag's budget committee.
  • The German cash curve has lightly bull flattened, with 30-year yields ~1.5bps lower today. There has been a modest ASW tightening, keeping spreads around cycle/all-time lows.
  • The EC’s Autumn projections for GDP growth and headline inflation were broadly consistent with the ECB’s latest forecasts, with lower interest rates and rising real disposable incomes helping to support a recovery in consumption from next year.
  • 10-year peripheral spreads to Bunds are biased a little tighter, with European equities off session lows.
  • French final October HICP inflation saw a one tenth upward revision to 1.6% Y/Y, while the Italian reading confirmed flash estimates of 1.0% Y/Y.
  • ECB's Panetta, Lane and Cipollone are scheduled to speak later today, with broader focus on this afternoon's US retail sales, import/export prices and industrial production data. 
196 words

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.

Bund futures are +20 ticks at 132.34, having fully recovered from yesterday evening’s light sell-off (which was driven by cautious comments from Fed Chair Powell).

  • The uptick in US Treasuries has set the tone for core FI this morning, though Bund futures appeared to find some support from a report that the German Finance Minister will not submit a so-called adjustment proposal for the 2025 federal budget to the Bundestag's budget committee.
  • The German cash curve has lightly bull flattened, with 30-year yields ~1.5bps lower today. There has been a modest ASW tightening, keeping spreads around cycle/all-time lows.
  • The EC’s Autumn projections for GDP growth and headline inflation were broadly consistent with the ECB’s latest forecasts, with lower interest rates and rising real disposable incomes helping to support a recovery in consumption from next year.
  • 10-year peripheral spreads to Bunds are biased a little tighter, with European equities off session lows.
  • French final October HICP inflation saw a one tenth upward revision to 1.6% Y/Y, while the Italian reading confirmed flash estimates of 1.0% Y/Y.
  • ECB's Panetta, Lane and Cipollone are scheduled to speak later today, with broader focus on this afternoon's US retail sales, import/export prices and industrial production data.