Trial now

Remains Vulnerable


Pres Biden Budget Proposal Ests


Needle Still Points South


Resistance Remains Intact


Reverse Repo Operation

Sign up now for free access to this content.

Please enter your details below and select your areas of interest.

Gilts and Bunds are trading fairly flat early Thursday, with periphery spreads a little tighter (BTPs outperforming in a broadly risk-on session so far).

  • With little data for the rest of the session (French confidence figures were broadly in line earlier) and no bond supply, central banks are the focus of the session.
  • BoE's Broadbent speaks at 0930BST, of interest given recent MPC members' comments tilting toward hawkishness.
  • Then of course we get the ECB decision (1245BST) and press conference (1330BST).
  • Focus is on the strategy review and change in monetary policy objective. While Lagarde Q&A will be keenly eyed, also note there will be a change in format with a different style of opening statement.

Latest levels:

  • Sep Bund futures (RX) up 4 ticks at 175.57 (L: 175.49 / H: 175.78)
  • Sep Gilt futures (G) down 1 ticks at 129.36 (L: 129.35 / H: 129.6)
  • Sep BTP futures (IK) up 23 ticks at 153.48 (L: 153.43 / H: 153.65)
  • Italy / German 10-Yr spread 1.5bps tighter at 106.8bps