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EGBs-GILTS CASH CLOSE: Rally Extends Into The Weekend

BONDS

Periphery EGBs ended the week strong, as the European FI space as a whole extended the week's impressive gains.

  • BTPs and GGBs continued to rally following the ECB meeting Thursday; Greece outperformed with 10Y spreads falling nearly 5bps vs Germany.
  • Gilts outperformed Bunds - UK Apr GDP data disappointed slightly.
  • Ratings after hours include Fitch on Spain.

Closing German/UK Yields And 10-Yr Spreads To Germany

  • Germany: The 2-Yr yield is up 0.2bps at -0.683%, 5-Yr is down 0.5bps at -0.633%, 10-Yr is down 1.8bps at -0.274%, and 30-Yr is down 2.6bps at 0.286%.
  • UK: The 2-Yr yield is down 1.4bps at 0.053%, 5-Yr is down 3bps at 0.291%, 10-Yr is down 3.9bps at 0.708%, and 30-Yr is down 3.4bps at 1.245%.
  • Italian BTP spread down 3.4bps at 101.7bps / Greek bond spread down 4.7bps at 101.4bps

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