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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.
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Free AccessEGBs-GILTS CASH CLOSE: Gilts Underperform
A mixed day for the European FI space Thursday, with Gilts underperforming, Bunds flat, and periphery spreads tightening.
- With few catalysts emanating from Europe, US data surprises once again dictated the tempo in the afternoon - after strong retail sales numbers, Treasuries sold off, with Bunds and Gilts following.
- Gilt yields rose steadily for most of the session, leaving the UK/Germany 10Y spread nearing 2-year highs.
- In the morning, ECB's Rehn said rate hikes were not "within sight". We also had heavy supply, from France (E9bln in OAT) and Spain (E5.2bln in Bono/Obli), plus Austria 15Y syndication (E5bln in RAGB).
Closing Yields / 10-Yr Periphery EGB Spreads To Germany
- Germany: The 2-Yr yield is down 0.2bps at -0.703%, 5-Yr is up 0.3bps at -0.621%, 10-Yr is up 0.4bps at -0.302%, and 30-Yr is up 0.3bps at 0.195%.
- UK: The 2-Yr yield is up 2.2bps at 0.285%, 5-Yr is up 3.7bps at 0.49%, 10-Yr is up 3.9bps at 0.817%, and 30-Yr is up 4.1bps at 1.118%.
- Italian BTP spread down 1.2bps at 99.6bps / Spanish down 0.9bps at 64.1bps
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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.