Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
Reporting on key macro data at the time of release.
Real-time insight on key fixed income and fx markets.
- Emerging MarketsEmerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
- MNI ResearchMNI Research
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
- About Us
Core FI had a positive day, with initial steepening giving way to bull flattening in the German curve (and to a lesser extent in the UK where 10s outperformed). Once again there were few catalysts to point to, but weaker equities and higher US real rates / lower inflation breakevens post-Fed minutes Wednesday proved enough impetus.
With risk appetite waning, BTP spreads drifted wider in afternoon trade, 10-Yr closing above 140bps/Bunds for the first time this week.
A big day for data lies ahead Friday, with UK retail sales kicking things off, and flash August PMIs throughout the morning. Closing levels:
- Germany: The 2-Yr yield is down 0.6bps at -0.675%, 5-Yr is down 1.8bps at -0.689%, 10-Yr is down 2.4bps at -0.496%, and 30-Yr is down 3.6bps at -0.071%.
- UK: The 2-Yr yield is down 0.9bps at -0.034%, 5-Yr is down 0.6bps at -0.03%, 10-Yr is down 1.1bps at 0.225%, and 30-Yr is down 0.6bps at 0.808%.
10-Yr Periphery EGB Spreads:
- Italian BTP spread up 2.5bps at 141bps
- Spanish bond spread up 2.3bps at 78.7bps
- Portuguese PGB spread up 2bps at 82.2bps
- Greek bond spread up 2.5bps at 159.1bps