BRIEF: EC Approves Italy's 5th NGEU Payment Request For EUR11 billion

MNI BRIEF: ECB's Eye On French Markets, Price Stability Key

MNI BRIEF: Lower Inflation Path Remains Bumpy - Lagarde

MNI BRIEF: 'Noise' Driving Economic Deterioration- Campos Neto

MNI China Daily Summary: Tuesday, July 2

MNI BRIEF: China Aims For AI Standards By 2026

Ita-coin Nowcast Negative For Second Month

MNI: US BLS: JOLTS QUITS RATE 2.2% IN MAY

MNI: US BLS: JOLTS OPENINGS RATE 8.140M IN MAY

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

EGBs-GILTS CASH CLOSE: UK Short-End Once Again Underperforms

BONDS

Gilts and EGB yields pulled back from morning highs, with both the German and UK curves closing Thursday a little flatter.

  • UK inversion deepened as the short-end once again underperformed (2Y UK yield high topped Wednesday's high by 0.1bp). Early on, 10Y Bund yields hit the highest since Jul 22 (1.15%) and Gilt since Jun 30 (2.353%) before fading.
  • September ECB hike pricing picked up a couple of basis points with a 50bp hike fully priced and then some after Schnabel suggested to Reuters interview that she favours another half-point raise next month.
  • A relatively calm session for periphery EGBs as well; Greece underperformed.
  • Final Eurozone CPI was in line and had little market impact. UK retail sales in focus Friday.

Closing Yields / 10-Yr Periphery EGB Spreads To Germany:

  • Germany: The 2-Yr yield is up 1.8bps at 0.749%, 5-Yr is up 2.7bps at 0.925%, 10-Yr is up 2bps at 1.103%, and 30-Yr is up 0.4bps at 1.296%.
  • UK: The 2-Yr yield is up 5.2bps at 2.455%, 5-Yr is up 3.5bps at 2.183%, 10-Yr is up 2.3bps at 2.311%, and 30-Yr is up 0.2bps at 2.625%.
  • Italian BTP spread down 0.4bps at 222.9bps / Greek up 1.6bps at 244.8bps
HomepageBond Market NewsBulletMarketsFixed Income Bullets
HomepageBond Market NewsBulletMarketsFixed Income Bullets

To read the full story

Close

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.