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EGBs-GILTS CASH CLOSE: Steeper To Start The Week

BONDS

European FI weakened in a bear-steepening move, with Gilts and Bunds trading largely in line with each other to start the week. Periphery spreads were a little wider.

  • Weaker equities and continuing supply-side energy concerns did not translate into a safe-haven bid in core FI, though Gilts mounted a decent comeback in the afternoon with yields briefly turning lower on the session.
  • Little data of note, and no market-moving commentary from today's central bank speakers. Most notable was ECB's de Guindos who stressed that while there were no signs of notable wage increases yet, the ECB will remain vigilant to second-round effects from recent price gains.
  • The ESM completed its 2021 Funding with a E2bln no-grow tap sale of Dec-24 bonds.

Closing Yields / 10-Yr Periphery EGB Spreads To Germany

  • Germany: The 2-Yr yield is unchanged at -0.703%, 5-Yr is up 0.7bps at -0.574%, 10-Yr is up 1bps at -0.214%, and 30-Yr is up 1.2bps at 0.268%.
  • UK: The 2-Yr yield is up 0.7bps at 0.406%, 5-Yr is up 0.6bps at 0.629%, 10-Yr is up 0.9bps at 1.011%, and 30-Yr is up 1.2bps at 1.379%.
  • Italian BTP spread up 0.8bps at 104.4bps / Spanish up 0.3bps at 65bps
HomepageBond Market NewsBulletMarketsFixed Income Bullets
HomepageBond Market NewsBulletMarketsFixed Income Bullets

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