-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI PodcastsFixed IncomeFI Markets AnalysisCentral Bank PreviewsFI PiFixed Income Technical AnalysisUS$ Credit Supply PipelineGilt Week AheadGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction CalendarPolitical RiskMNI Political Risk AnalysisMNI Political Risk - US Daily BriefMNI Political Risk - The week AheadElection Previews -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
-
Credit
Credit
Real time insight of credit markets
-
Data
-
Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
Global MacroDM Central Bank PreviewsDM Central Bank ReviewsEM Central Bank PreviewsEM Central Bank ReviewsBalance Sheet AnalysisData AnalysisEurozone DataUK DataUS DataAPAC DataInflation InsightEmployment InsightGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance Calendars EZ/UK Bond Auction Calendar EZ/UK T-bill Auction Calendar US Treasury Auction Calendar Global Macro Weekly -
About Us
To read the full story
Sign up now for free trial access to this content.
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.
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 AccessEGBs-GILTS CASH CLOSE: UK Curve Steepens As BoE Holds
The Bank of England's decision to hold rates saw the UK curve steepen Thursday, with the German curve following suit.
- After global bonds sold off overnight in the wake of the Fed's hawkish rate hold, a dovish tone was restored in early European trade with the SNB's unexpected hold and in-line hikes by the Riksbank and Norges Bank. The BoE's 5-4 decision to hold rates - which was only 45% priced in vs a 25bp hold - marked the peak for European core FI for the day.
- After selling off in the afternoon, UK and German yields fell back and finished off session highs.
- Helping the recovery were multiple comments by ECB participants across the hawk-dove spectrum pointing to prospects of an extended hold including Stournaras, Wunsch, and Knot.
- The UK curve finished sharply bear steeper with Germany's modestly twist steepening.
- Periphery EGB spreads widened, led by Italy, amid a broader risk-off move that accelerated in the afternoon as equities dropped and curves re-steepened.
- Friday sees UK retail sales data and September flash PMIs.
Closing Yields / 10-Yr Periphery EGB Spreads To Germany
- Germany: The 2-Yr yield is down 0.3bps at 3.257%, 5-Yr is up 2.2bps at 2.756%, 10-Yr is up 3.5bps at 2.737%, and 30-Yr is up 2.8bps at 2.87%.
- UK: The 2-Yr yield is up 2.5bps at 4.873%, 5-Yr is up 3.3bps at 4.426%, 10-Yr is up 9bps at 4.305%, and 30-Yr is up 7.7bps at 4.709%
- .Italian BTP spread up 5.5bps at 180.4bps / Greek up 4.6bps at 142bps
To read the full story
Sign up now for free trial access to this content.
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.