MNI JAPAN NOV HOUSEHOLD SPENDING -0.4% Y/Y; OCT -1.3%

MNI BRIEF: Canada Interest Cost 11% Of Revenue, Most Since '12

MNI: Fed’s Schmid Says Rates Nearing Neutral, Can Be Patient

MNI BRIEF: Banxico Set To Consider Larger Rate Cuts - Minutes

MNI: Fed’s Collins Calls For Gradual Approach To Rate Cuts

MNI BRIEF: Mexico Inflation Up To 4.21%, More Rate Cuts Loom

EZ/UK Bond Supply Calendar: EU Synd; IT Auction, BoE APF Mon

MNI: EUROZONE NOV RETAIL SALES +0.1% M/M, +1.2% Y/Y

MNI: GERMANY NRW DEC CPI +0.5% M/M, +2.5% Y/Y

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

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

BONDS: EGBs-GILTS CASH CLOSE: Long-End UK Rout Continues

BONDS
BulletMarketsFixed Income Bullets

Gilts led a long-end selloff in the European government bond space Wednesday.

  • A combination of weaker global long-duration bonds and UK-specific structural issues saw Gilts sell off sharply for a second consecutive session: 10Y yields hit the highest since 2008, with 30Y at fresh post-1998 highs.
  • Bunds weakened in sympathy, with the softness in global core FI exacerbated by solid US jobless claims data, as well as dollar gains on overnight reports that Pres-elect Trump would make an emergency tariff declaration.
  • Heavy supply also weighed, including Gilt, Bund, and Italian issuance, with French/Spanish auctions anticipated Thursday.
  • German Factory orders and retail sales missed versus consensus but this did not move markets.
  • Both the UK and German curves bear steepened. Semi-core/periphery EGB spreads narrowed slightly, however.
  • Thursday sees the aforementioned supply, plus multiple data points including UK BRC shop price index, DMP inflation expectations, and KPMPG/REC jobs report, along with German trade/regional CPI.

Closing Yields / 10-Yr EGB Spreads To Germany

Keep reading...Show less
221 words

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.

Gilts led a long-end selloff in the European government bond space Wednesday.

  • A combination of weaker global long-duration bonds and UK-specific structural issues saw Gilts sell off sharply for a second consecutive session: 10Y yields hit the highest since 2008, with 30Y at fresh post-1998 highs.
  • Bunds weakened in sympathy, with the softness in global core FI exacerbated by solid US jobless claims data, as well as dollar gains on overnight reports that Pres-elect Trump would make an emergency tariff declaration.
  • Heavy supply also weighed, including Gilt, Bund, and Italian issuance, with French/Spanish auctions anticipated Thursday.
  • German Factory orders and retail sales missed versus consensus but this did not move markets.
  • Both the UK and German curves bear steepened. Semi-core/periphery EGB spreads narrowed slightly, however.
  • Thursday sees the aforementioned supply, plus multiple data points including UK BRC shop price index, DMP inflation expectations, and KPMPG/REC jobs report, along with German trade/regional CPI.

Closing Yields / 10-Yr EGB Spreads To Germany

Keep reading...Show less