Free Trial
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
German bonds outperformed their UK counterparts Friday, with steepening in both curves - though periphery weakness took centre stage.
- With no particular catalyst evident, periphery spreads widened sharply: 10Y BTPs out 10bp to close above 200bp (though just shy of the May high); GGBs underperformed, nearly 18bp wider and starting to threaten the April 2020 wides.
- Gilt and Bund yields faded earlier highs in the afternoon as stocks came off their highs. UK underperformed as BoE hike pricing rose following stronger-than-expected data this week and analyst hike projection upgrades.
Closing Yields / 10-Yr Periphery EGB Spreads To Germany:
- Germany: The 2-Yr yield is down 3bps at 0.342%, 5-Yr is down 3.7bps at 0.655%, 10-Yr is down 0.5bps at 0.944%, and 30-Yr is up 4.6bps at 1.116%.
- UK: The 2-Yr yield is up 1.6bps at 1.507%, 5-Yr is up 1.7bps at 1.603%, 10-Yr is up 2.8bps at 1.893%, and 30-Yr is up 3.6bps at 2.13%.
- Italian BTP spread up 10bps at 205.5bps / Greek up 17.8bps at 277.7bps
10Y GGB / Germany Spread, bpSource: BBG, MNI
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok