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: Weaker In Reflationary Move

BONDS

Bunds and Gilts traded weaker for most of the session alongside a broader bear steepening move in core global FI, while periphery spreads were mixed.

  • There wasn't a clear driver of this move, though a broader "reflation trade" theme seemed to be in play in the afternoon in the US which helped drive UK and German yields higher.
  • Flash April inflation data for Germany and Spain came in above expectations. Italy sold E8.5bn of BTP/CCTeu. ECB's Lane said in an interview that he sees the EZ economy at an "inflection point".
  • Reuters reported Greece plans at least 2 more bond issues this year, to raise up to E4bln.
  • Friday sees a busy data calendar, including prelim Q1 GDP and Apr inflation for multiple countries.

Closing yields/10-Yr Spreads to Bunds:

  • Germany: The 2-Yr yield is up 0.7bps at -0.678%, 5-Yr is up 2.2bps at -0.562%, 10-Yr is up 3.8bps at -0.193%, and 30-Yr is up 4.9bps at 0.36%.
  • UK: The 2-Yr yield is up 1.9bps at 0.078%, 5-Yr is up 3.1bps at 0.387%, 10-Yr is up 4.6bps at 0.843%, and 30-Yr is up 3.6bps at 1.347%.
  • Italian BTP spread up 0.4bps at 110.6bps / Spanish up 0.4bps at 66.8bps
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.