CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

EGBs-GILTS CASH CLOSE: Wary Of Tighter Lockdowns At Month-End

BONDS

Curves traded mixed Wednesday with a combination of factors at play at various points in the session, including more stringent lockdown measures in Europe, lower-than-expected inflation data, and some degree of month-end buying. Gilts underperformed, fading quickly after hitting session highs mid-afternoon. Conversely, Bunds rallied from a weak open. Periphery spreads were mixed.

  • Early data showed UK Q4 GDP revised higher, while FR, IT and EZ CPI was softer than expected.
  • ECB Pres Lagarde said markets can test the ECB "as much as they want", as the bank has "exceptional tools".
  • French Pres Macron is reportedly to announce tighter lockdown measures this evening, while Italy's set to extend restrictions to April 30 (from Apr 6th currently).
  • Thu's pre-holiday session sees final Mar PMIs.

Closing yields/10-Yr Spreads to Bunds:

  • Germany: The 2-Yr yield is up 0.1bps at -0.691%, 5-Yr is down 0.3bps at -0.628%, 10-Yr is down 0.6bps at -0.292%, and 30-Yr is down 1bps at 0.258%.
  • UK: The 2-Yr yield is up 3bps at 0.104%, 5-Yr is up 3bps at 0.394%, 10-Yr is up 2.1bps at 0.845%, and 30-Yr is up 3.7bps at 1.397%.
  • Italian BTP spread down 0.6bps at 96bps / Spanish spread unchanged at 62.9bps
BulletMarketsFixed Income Bullets
BulletMarketsFixed 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.