Free Trial
GOLD

Lower In Asia; $1,800/oz In The Balance

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
BONDS

Bunds and Gilts found a bit of a footing toward the end of Thursday's session, but make no mistake that it was a very tough day across the curves. BTP spreads widened too, with French 10-Yr yields going positive for the first time since June 2020.

  • While the main theme globally was belly/10-Yr weakness, perhaps notable was the relatively stronger performance in 30-Yr Gilts - the UK curve bear flattened as BoE cuts were priced out.
  • Italy saw lowest cover ratio for a 5-yr BTP since June 2020 (though this was somewhat expected due to large size); Tesoro released Green Bond framework.
  • Bunds briefly ticked higher on comments by ECB's Lane reiterating the bank watching yields closely. But mixed confidence data this morning largely shrugged off.
  • Friday sees some prelim inflation data and a few cenbank speakers (Schnabel, Haldane).

Closing yields/10-Yr Spreads to Bunds:

  • Germany: The 2-Yr yield is up 3bps at -0.652%, 5-Yr is up 6.5bps at -0.545%, 10-Yr is up 7.2bps at -0.232%, and 30-Yr is up 3.5bps at 0.244%.
  • UK: The 2-Yr yield is up 7.5bps at 0.107%, 5-Yr is up 8.8bps at 0.366%, 10-Yr is up 5.2bps at 0.784%, and 30-Yr is up 1.2bps at 1.389%.
  • Italian BTP spread up 4bps at 103.1bps / Spanish spread up 1.3bps at 70.8bps
MNI London Bureau | +44 203-865-3807 | tim.cooper@marketnews.com
MNI London Bureau | +44 203-865-3807 | tim.cooper@marketnews.com

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.