BOC SAYS FIRMS SEE SLOWER PRICE INCREASES AND WAGE GAINS

MNI BRIEF: China Q2 GDP Impacted By Bad Weather - NBS

MNI China Press Digest July 15: Consumption, Exports, FDI

MNI: PBOC Conducts CNY100 Bln Via 1Y MLF; Rates Unchanged

CHINA PBOC CONDUCTS CNY129 BILLION VIA 7-DAY REVERSE REPOS MON

MNI: PBOC Sets Yuan Parity Lower At 7.1313 Mon; -1.35% Y/Y

EZ/UK Bond Supply Calendar: UK, Germany Auction on Tuesday

King's Speech Due 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: Constructive Start To ECB Week

BONDS
Homepagemarkets-real-timeBulletMarketsFixed Income Bullets

European government bonds strengthened across the board Monday.

  • Core FI started on the front foot, faltering in late morning led by Bunds amid some confusion over news reports over increased funding in the 2024 German budget (which turned out not to be a new development).
  • Overall though there was little in the way of European macro news flow/headlines to drive, with the general tone remaining positive following last Thursday's soft US inflation report.
  • The UK curve bull steepened, with Germany's shifting in a similar direction but with outperformance in the 5Y segment.
  • Periphery / semi-core EGB spreads tightened on the day despite weakness in equities, led by BTPs and OATS (-2bp on the day vs 10Y Bund).
  • With a limited calendar of scheduled events Tuesday (including German ZEW), focus this week is on Wednesday's UK CPI release and Thursday's ECB decision.

Closing Yields / 10-Yr Periphery EGB Spreads To Germany

Keep reading...Show less
212 words

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.

European government bonds strengthened across the board Monday.

  • Core FI started on the front foot, faltering in late morning led by Bunds amid some confusion over news reports over increased funding in the 2024 German budget (which turned out not to be a new development).
  • Overall though there was little in the way of European macro news flow/headlines to drive, with the general tone remaining positive following last Thursday's soft US inflation report.
  • The UK curve bull steepened, with Germany's shifting in a similar direction but with outperformance in the 5Y segment.
  • Periphery / semi-core EGB spreads tightened on the day despite weakness in equities, led by BTPs and OATS (-2bp on the day vs 10Y Bund).
  • With a limited calendar of scheduled events Tuesday (including German ZEW), focus this week is on Wednesday's UK CPI release and Thursday's ECB decision.

Closing Yields / 10-Yr Periphery EGB Spreads To Germany

Keep reading...Show less