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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.
BONDS
- Long end Gilts once again stand out, with 10YY +23.6bps and 30YY +28.8bps partially tied impending end to BOE long gilt buy scheme on the 14th and extra GBP37bln of gilt issuance over 12 months due to the APF.
- 30Y Gilt yields at 4.6655% saw a session high of 4.7294%, coming closer to a 76.4% retracement of the rally seen after the BoE gilts purchase plan was initially announced.
- Further sizeable moves in EU FI, with the 10Y BTP-Bund spread recording its largest drop since June, coming from the pincer movement of BTPs rallying and Bunds selling off on a Bloomberg report that Germany will support joint EU debt if disbursed as loans to tackle the energy crisis.
- It left BTPs -7.5bps on the day vs +14.3bps for Bunds, with the spread narrowing 22bps to 228bps with at one point a 30bp intraday narrowing, reversing much of last week's widening.
10Y BTP (white), Bund (yellow) and spread (green)Source: Bloomberg
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.
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