MNI China Daily Summary: Tuesday, July 9

CORRECTED-MNI: China H2 Steel Outlook Subdued

MNI BRIEF: Gradual, but Decisive ECB Cuts Needed –Giorgetti

MNI BRIEF: Mexico Inflation 4.98% In June, Above Consensus

MNI BOK WATCH: Slowing Inflation Puts Q4 Cut In Sight

MNI: PBOC Conducts CNY2 Bln Via OMO Tues; Liquidity Unchanged

MNI: US REDBOOK: JUL STORE SALES +5.7% V YR AGO MO

Weak May Releases Raise Further Recovery Into Question

EZ/UK T-Bill Calendar: 12-Month BOT Auction On Wednesday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

EGBs-GILTS CASH CLOSE: BoE's Vlieghe Puts Pressure On Gilts

BONDS

Thursday saw a weak session for the space, with the Bund and Gilt curves bear steepening.

  • Biggest headline reaction of the day came from BoE Vlieghe, who commented at midday UK time that early rate hikes are possible if there is a smooth furlough transition.
  • This sent Gilts lower, with Bunds following suit.
  • ECB's Weidmann in contrast didn't add to the conversation on tapering.
  • BTPs were sold across the curve at various points in the day, but the weakness in Bunds meant spreads compressed over the course of the session.
  • We get French prelim May inflation and Eurozone confidence data on Friday, as well as an appearance by ECB Villeroy; Italy sells up to E8.5bln of BTP/CCTeu.

Closing yields/10-Yr Spreads to Bunds:

  • Germany: The 2-Yr yield is up 1bps at -0.656%, 5-Yr is up 2.3bps at -0.554%, 10-Yr is up 3.4bps at -0.172%, and 30-Yr is up 4bps at 0.389%.
  • UK: The 2-Yr yield is up 2.9bps at 0.052%, 5-Yr is up 4.7bps at 0.349%, 10-Yr is up 5.8bps at 0.81%, and 30-Yr is up 3.7bps at 1.319%.
  • Italian BTP spread down 1.9bps at 110.8bps / Spanish spread down 0.2bps at 65.6bps
HomepageBond Market NewsBulletMarketsFixed Income Bullets
HomepageBond Market NewsBulletMarketsFixed Income Bullets

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.