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EGBs-GILTS CASH CLOSE: Yields Rise Again As ECB Looks More Hawkish

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An apparent hawkish turn from influential ECB members applied fresh pressure on European FI Friday, with rate hike expectations rising and German yields hitting multi-year highs.

  • The key comment was from Banque de France's Villeroy who said he sees rates in positive territory by year-end.
  • Gilts outperformed, with the short-end continuing to rally post-dovish BoE.
  • 10Y Bund yields rose to the highest since Aug 2014.
  • 10Y BTP spreads rose only slightly but closed above the 200bp mark for the first time since April 2020.

Closing Yields / 10-Yr Periphery EGB Spreads To Germany

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An apparent hawkish turn from influential ECB members applied fresh pressure on European FI Friday, with rate hike expectations rising and German yields hitting multi-year highs.

  • The key comment was from Banque de France's Villeroy who said he sees rates in positive territory by year-end.
  • Gilts outperformed, with the short-end continuing to rally post-dovish BoE.
  • 10Y Bund yields rose to the highest since Aug 2014.
  • 10Y BTP spreads rose only slightly but closed above the 200bp mark for the first time since April 2020.

Closing Yields / 10-Yr Periphery EGB Spreads To Germany

Keep reading...Show less