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EURIBOR OPTIONS

Going for larger hikes

OIL

Concern for Economy fuels Crude Fall

WTI TECHS

(Q2) Retracement Extends

BUNDS

Attention turns to Powell

BRENT TECHS

(Q2) Trades Through The 50-Day EMA

CZECHIA

CNB Likely To Hike By 100Bps Today

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BONDS

German and UK yields were mixed Tuesday with Bunds underperforming in a risk-on session.

  • Though equities soared, including the FTSE recovering all its late November losses, UK 10Yr yields touched a fresh post-September low; 30s since the first week of 2021.
  • In the past day, multiple sell-side analysts have pushed back their BoE first hike calls, from December to February.
  • BTPs underperformed in the periphery after rallying Monday.
  • Mixed ECB news this morning, with Austria's Holzmann seeing potential for rate hikes alongside asset purchases; conversely an FT piece corroborating an earlier Reuters report that some GC members want to postpone post-PEPP decisions past next week's meeting.

Closing Yields / 10-Yr Periphery EGB Spreads To Germany

  • Germany: The 2-Yr yield is up 2.5bps at -0.701%, 5-Yr is up 2.5bps at -0.601%, 10-Yr is up 1.3bps at -0.375%, and 30-Yr is down 0.3bps at -0.093%.
  • UK: The 2-Yr yield is down 0.6bps at 0.462%, 5-Yr is down 0.4bps at 0.572%, 10-Yr is down 0.8bps at 0.73%, and 30-Yr is down 2.2bps at 0.803%.
  • Italian BTP spread up 2.9bps at 129.6bps / Spanish down 1.5bps at 70.9bps
MNI London Bureau | +44 203-865-3807 | tim.cooper@marketnews.com
MNI London Bureau | +44 203-865-3807 | tim.cooper@marketnews.com

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