Free Trial

EGBs have edged higher at start of ECB.........>

EGBS
EGBS: EGBs have edged higher at start of ECB Thursday taking cue from a steady
session in US Treasury's overnight and likely underpinned by tick lower in
German GfK May consumer confidence. German 10-yr Bund yield last 1.3bp lower at
0.62% while the yield curve is little changed.
- Main event today with be the ECB monetary policy decision at 1245BST followed
by the press conference at 1330BST. Markets are not expecting there to be any
new announcements on policy, however, attention will be on any comments that
could prepare them for possible changes to come in either June or July and the
ECBs take on latest economic data which has appeared on the soft side of
expectations.
- EMU periphery are holding their own for now with 10-yr spreads to German
little changed despite news that the EU is looking to raise the he maximum cap
on the EU budget, creating a buffer.
- Once again there is no Eurozone bond issuance today, with Italy next scheduled
to come to the market on Friday.

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.