Free Trial

/EGBs-GILTS: Bunds and Gilts are.......>

BOND SUMMARY
BOND SUMMARY: /EGBs-GILTS: Bunds and Gilts are coming off early lows as US-China
rhetoric returns to the forefront (Beijing saying it will impose sanctions on US
arms manufacturer Lockheed Martin), and ahead of a busier day of issuance.
- Periphery spreads have come off the wides though creeping up from late
Monday's lows, mirroring the retracement in equities from highs.
- UK May GDP disappointed significantly to the downside (+1.8% vs 5.5% exp.);
apart from some final June inflation figures we get German ZEW at 1000BST.
- Netherlands sells 0% Jan-27 DSL for E1.5-3.0bn, and Italy sells 0.30% Aug-23
BTP, 0.95% Sep-27 BTP and the 3.10% Mar-40 BTP for a combined E8.5-10.0bn.
- UK sells GBP3.0bln of 0.375% Oct-30 and GBP3.25bln of 0.125% Jan-26 gilt.
- ** Latest levels:
* Sep Bund futures (RX) up 46 ticks at 176.09 (L: 175.90 / H: 176.21)
* Sep Gilt futures (G) up 50 ticks at 137.88 (L: 137.59 / H: 137.89)
* Sep BTP futures (IK) up 14 ticks at 144.1 (L: 143.88 / H: 144.18)
* Sep OAT futures (OA) up 36 ticks at 167.56 (L: 167.43 / H: 167.64)
* Italy / German 10-Yr spread 1.1bps wider at 166.5bps

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.