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EGBs-GILTS CASH CLOSE: Yield Rise Remains Relentless

BONDS

Gilt and Bund yields closed the week by continuing their almost uninterrupted rise since the end of August.

  • Friday saw some mid-session respite after US payrolls data missed expectations, but the move quickly reversed and 10Y UK yields ultimately posted fresh post-May 2019 highs, with German counterparts equaling the highest yield since May 2021.
  • The short end was not immune either, with Euribor and Short Sterling weakening sharply, pointing to greater scope for rate hikes by end-2022.
  • Peripheries weakened but saw spreads tightening, led by Greece.
  • No ratings decisions after hours Friday. Next week sees a slew of ECB and BoE speakers.

Closing Yields / 10-Yr Periphery EGB Spreads To Germany

  • Germany: The 2-Yr yield is up 1.4bps at -0.69%, 5-Yr is up 2.7bps at -0.532%, 10-Yr is up 3.6bps at -0.149%, and 30-Yr is up 3bps at 0.332%.
  • UK: The 2-Yr yield is up 7.3bps at 0.547%, 5-Yr is up 7.3bps at 0.771%, 10-Yr is up 8.5bps at 1.162%, and 30-Yr is up 7.4bps at 1.503%.
  • Italian BTP spread down 1.4bps at 102.7bps / Greek down 2.3bps at 105bps
HomepageBond Market NewsBulletMarketsFixed Income Bullets
HomepageBond Market NewsBulletMarketsFixed Income Bullets

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