MNI China Daily Summary: Monday, July 29

MNI: China CFETS Yuan Index Up 0.15% In Week of Jul 26

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Higher At 7.1316 Mon; -1.56% Y/Y

CHINA PBOC CONDUCTS CNY301.57 BILLION VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.1316 MON VS 7.1270

CBI Retail Sales Fell Faster Than Expected For The Second Month

MNI: UK CBI JUL DIST TRADE REPORTED SALES -43

MNI: UK BOE JUN MORTGAGE APPROVALS 59,976

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

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

EGBs-GILTS CASH CLOSE: ECB Rate Pushback; BoE Eyed

BONDS

Periphery yields tightened while the Gilt curve underperformed again with notable weakness at the short-end ahead of the US Fed decision after hours and of course the BoE Thursday.

  • Some pushback against ECB rate hike pricing by Lagarde and Villeroy helped boost the EGB space, with Italy and Greece outperforming on the periphery. A strong US ISM Services reading in the afternoon pulled Global FI weaker though.
  • Overall, fairly subdued session volume-wise by recent standards, with many on the sidelines pre-Fed / BoE.
  • A very mixed outlook for Thursday's BoE, with a majority of analysts seeing a 15bp hike tomorrow, but a large plurality seeing December or later (see the MNI Preview).

Closing Yields / 10-Yr Periphery EGB Spreads To Germany

  • Germany: The 2-Yr yield is up 1.2bps at -0.654%, 5-Yr is unchanged at -0.475%, 10-Yr is down 0.3bps at -0.168%, and 30-Yr is down 2.8bps at 0.148%.
  • UK: The 2-Yr yield is up 3.7bps at 0.707%, 5-Yr is up 2.4bps at 0.845%, 10-Yr is up 3.6bps at 1.075%, and 30-Yr is up 3bps at 1.203%.
  • Italian BTP spread down 2.3bps at 121.5bps / Greek down 2.6bps at 136.9bps
BulletMarketsFixed Income BulletsHomepage
BulletMarketsFixed Income BulletsHomepage

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.