MNI China Daily Summary: Thursday, October 17

MNI BRIEF: Beijing Awaiting EU Response On Next Stage Talks

MNI INTERVIEW: Muted Impact On EU Inflation From MidEast Oil

MNI BRIEF: PBOC Eyes Real Estate Relending Tools Enhancement

MNI: PBOC Net Drains CNY17.4 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1220 Thurs; +2.76% Y/Y

MNI: EUROZONE SEP FINAL HICP -0.1% M/M, +1.7% Y/Y

Australia Sep Unemployment Rate 4.1%

MNI:AUSTRALIA SEP UNEMPLOYMENT RATE +4.1%

CANADA: Politics Week: Trudeau Faces More Pressure To Resign

CANADA: Politics Week: Parliament Opens With Early Election Threats

AUSTRALIA: Albanese Lines Up Budget for May Election

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

EGBS: Pressured By Equity Rally, Spanish/French Supply

EGBS
EurozoneBulletGlobalFixed Income BulletsRegionMarkets

Bund futures are -38 ticks at 133.82, with today’s equity rally and Spanish/French supply weighing. Regional focus remains on the ECB decision at 1315BST/1415CET, where a 25bp cut is unanimously expected and essentially fully priced by markets.

  • MNI’s ECB preview is here: https://mni.marketnews.com/4f32RSD
  • Initial support in Bund futures is 133.69, shielding the Oct 15 low at 133.30.
  • Eurozone September final HICP was revised a tenth lower on a rounded basis to 1.7% Y/Y (unrounded 1.74%), but was not a market mover.
  • Obli/MT OAT supply from Spain and France saw decent results, with a French linker auction still due this morning.
  • 10-year EGB spreads to Bunds are tighter, again led by BTPs and GGBs. The BTP/Bund spread has narrowed over 25bps from the September wides, currently 1.5bps tighter today at 121bps.
  • US data (retail sales and jobless claims) will also generate interest between the ECB decision and press conference.
143 words

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.

Bund futures are -38 ticks at 133.82, with today’s equity rally and Spanish/French supply weighing. Regional focus remains on the ECB decision at 1315BST/1415CET, where a 25bp cut is unanimously expected and essentially fully priced by markets.

  • MNI’s ECB preview is here: https://mni.marketnews.com/4f32RSD
  • Initial support in Bund futures is 133.69, shielding the Oct 15 low at 133.30.
  • Eurozone September final HICP was revised a tenth lower on a rounded basis to 1.7% Y/Y (unrounded 1.74%), but was not a market mover.
  • Obli/MT OAT supply from Spain and France saw decent results, with a French linker auction still due this morning.
  • 10-year EGB spreads to Bunds are tighter, again led by BTPs and GGBs. The BTP/Bund spread has narrowed over 25bps from the September wides, currently 1.5bps tighter today at 121bps.
  • US data (retail sales and jobless claims) will also generate interest between the ECB decision and press conference.