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EGBs-GILTS CASH CLOSE: Resolving In A Bullish Direction To End The Week

BONDS

Bunds and Gilts ultimately resolved in a bullish direction for the most part, with an early move lower in yields reversing only temporarily in the early afternoon. Periphery spreads a little wider.

  • Focus is swiftly turning to next week's political agenda with EU budget negotiations and another fraught schedule of Brexit talks (reports out of this morning's briefing to EU ambassadors on progress of the talks were mixed).
  • Also of note Monday will be Flash November PMIs.

Closing Levels / 10-Yr Periphery EGB Spreads:

  • Germany: The 2-Yr yield is down 1.6bps at -0.751%, 5-Yr is down 1.3bps at -0.761%, 10-Yr is down 1.2bps at -0.583%, and 30-Yr is down 0.2bps at -0.176%.
  • UK: The 2-Yr yield is down 1.3bps at -0.042%, 5-Yr is down 1.5bps at -0.007%, 10-Yr is down 2.1bps at 0.302%, and 30-Yr is down 3.1bps at 0.889%.
  • Italian BTP spread up 0.3bps at 121.6bps
  • Spanish bond spread up 0.7bps at 64.8bps
  • Portuguese PGB spread unchanged at 60.6bps
  • Greek bond spread up 1.6bps at 127.8bps
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