Free Trial

EGBs-GILTS: Breather From Heavy Supply

BOND SUMMARY

EGBs and Gilts are higher as equities pull back, supply takes a breather, and ahead of the Jackson Hole symposium (which is being watched for mainly for Fed Chair Powell's speech at 1410BST).

UK and German curves giving up some of the previous sessions' bear steepening, with periphery spreads widening slightly early.

After a heavy supply day Wednesday, no EGBs/Gilts for sale today.

French Aug business sentiment beat expectations, ECB M3 money supply growth a little higher than expected. (Italy industrial figures out but that's for Jun).

ECB's Lane on a panel at 1615BST at Jackson Hole. ** Latest levels:

  • Sep Bund futures (RX) up 42 ticks at 176.08 (L: 175.85 / H: 176.19)
  • Dec Gilt futures (G) up 24 ticks at 135.32 (L: 135.23 / H: 135.41)
  • Sep BTP futures (IK) up 26 ticks at 147.18 (L: 146.98 / H: 147.24)
  • Sep OAT futures (OA) up 34 ticks at 168.06 (L: 167.86 / H: 168.17)
  • Italy / German 10-Yr spread 0.5bps wider at 143.7bps

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.