CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

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

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

EGBs-GILTS CASH CLOSE: ECB Starts Putting PEPP Talk Into Action

BONDS

Core FI curves bull flattened, with Gilts outperforming Monday, though yields came off lows as early risk-off (related to Turkey concerns and EU-UK vaccine rhetoric) faded.

  • Eagerly anticipated data showed ECB net asset purchases picked up last week, with PEPP purchases the fastest since early December (E21.1bn). The muted reaction suggested that markets were prepared for a figure around this level, 11 days after the ECB pledged to accelerate buys, though BTP spreads tightened steadily after the release.
  • Earlier, ECB's Knot said the ECB may be able to begin talks on unwinding accommodation later this year if there is "good progress with vaccinations". Nothing new in a Pres Lagarde blog post.
  • Tues sees UK labor market data, EU SURE double-tranche syndication and Dutch DSL auction; speakers including BOE's Haldane and ECB's Villeroy.

Closing yields/10-Yr Spreads to Bunds:

  • Germany: The 2-Yr yield is down 0.5bps at -0.7%, 5-Yr is down 0.9bps at -0.654%, 10-Yr is down 1.7bps at -0.311%, and 30-Yr is down 1.7bps at 0.265%.
  • UK: The 2-Yr yield is down 1.9bps at 0.074%, 5-Yr is down 1.7bps at 0.37%, 10-Yr is down 2.4bps at 0.814%, and 30-Yr is down 2.5bps at 1.341%.
  • Italian BTP spread unchanged at 95.8bps/ Spanish spread up 0.8bps at 64.9bps
BulletMarketsFixed Income Bullets
BulletMarketsFixed 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.