Free Trial

/EGBs-GILTS: Risk appetite is..........>

BOND SUMMARY: /EGBs-GILTS: Risk appetite is creeping back into the European bond
space Thursday, with core EGBs taking a breather and Eurostoxx up 0.7%.
- Long-end of German curve coming off multi-year low yields, 10-Yr up 2.3bps.
- Periphery spreads tightening, IT/ES/SP/PT/GR in 2.5-4.1bps to 10-Yr Bunds.
- Supply today includes Italy and Portugal (Panda bonds).
- Sep 19 Gilts down 24 ticks at 129.29 (today is last trade/first notice for the
Jun contracts). Little impact from BoE's Ramsden who reiterated that 'rates
could need to go up or down after no deal Brexit'.
- Short-Sterling futures off 1.5-2.0 ticks; near-dated Euribor fairly steady
though off 1.0-1.5 ticks further down the strip (Blues/Golds).
- Pretty slow on the data and speaker slate today, earlier only Spain inflation
(HICP 0.9% Y/Y below MNI Median 1.2%) and retail sales of note.
- Latest futures prices: 
* Jun Bund futures (RX) down 21 ticks at 167.81 (L: 167.72 / H: 167.96)
* Jun BTP futures (IK) down 4 ticks at 130.2 (L: 129.97 / H: 130.3)
* Jun OAT futures (OA) down 20 ticks at 163.89 (L: 163.8 / H: 164.06)

To read the full story



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.