© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI BRIEF: Euro Area Wages Sustainably Contained-ECB's Centano

CORRECTED-MNI INTERVIEW: BOJ Policy Shift Closer

MNI BRIEF: China Pork Prices Hit Lowest Since July

Pressured On Monday As Demand Concerns Weigh

EZ/UK Bond Supply Calendar: 10y UK linker and Schatz due Tues

EZ/UK T-Bill Calendar: Spain, Belgium, ESM Auction Tuesday

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

MNI BRIEF:Macklem-Fiscal Policy Turning Unhelpful On CPI Fight

MNI BRIEF: Stabilizing Prices Helps BOC Turn Neutral-Freeland

EGBs-GILTS CASH CLOSE: Short End Underperforms As Cut Pricing Fades

BONDS
BulletMarketsFixed Income NewsHomepage

Gilts outperformed Bunds Friday, as a very strong week for core FI concluded in a constructive manner.

  • The German and UK curves both twist flattened on the day, though early gains - following weak UK retail sales data - faded in afternoon trade.
  • European short end instruments weakened on the day as ECB/BoE rate cut expectations pulled back from extremes in the afternoon, with global central bankers seen pushing back on rate cut speculation.
  • That included multiple Fed speakers, and MNI's ECB sources piece noting policymakers are keen to ensure rate cuts are not priced prematurely.
  • BTP spreads finished marginally wider after tightening intraday, ahead of Italy's sovereign ratings decision by Moody's after the cash close (a downgrade is not expected).
  • Next week sees multiple data points of interest including flash November PMIs.

Closing Yields / 10-Yr Periphery EGB Spreads To Germany

Keep reading...Show less
202 words

To read the full story

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 outperformed Bunds Friday, as a very strong week for core FI concluded in a constructive manner.

  • The German and UK curves both twist flattened on the day, though early gains - following weak UK retail sales data - faded in afternoon trade.
  • European short end instruments weakened on the day as ECB/BoE rate cut expectations pulled back from extremes in the afternoon, with global central bankers seen pushing back on rate cut speculation.
  • That included multiple Fed speakers, and MNI's ECB sources piece noting policymakers are keen to ensure rate cuts are not priced prematurely.
  • BTP spreads finished marginally wider after tightening intraday, ahead of Italy's sovereign ratings decision by Moody's after the cash close (a downgrade is not expected).
  • Next week sees multiple data points of interest including flash November PMIs.

Closing Yields / 10-Yr Periphery EGB Spreads To Germany

Keep reading...Show less