CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

EGBS: Spreads Off Intraday Tights As Equities Soften

EGBS
EurozoneBulletGlobalFixed Income BulletsRegionMarkets

10-year EGB spreads to Bunds have moved away from intraday tights, but widening pressure has been limited despite European equity futures’ 0.35% fall this morning.

  • The OAT/Bund spread is 1bp tighter at ~76.5bps. French Finance Minister Armand is set to present the new Government’s “policy priorities” at a Eurogroup meeting today, with further details of the 2025 budget set to be delivered on Wednesday (Oct 9).
  • Last week, the Government announced E60bln of fiscal measures (both spending cuts and tax rises) to rein in its deficit, which is on track to be 6.1% of GDP this year.
  • The 10-year BTP/Bund spread hovers around the 130bps handle after Friday’s narrowing.
  • In Portugal, Prime Minister Montenegro said he was open to talks with opposition leader Santos as he prepares to present the 2025 budget on Thursday.
  • ECB Chief Economist Lane is scheduled to speak at 0845BST/0945CET.
139 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.

10-year EGB spreads to Bunds have moved away from intraday tights, but widening pressure has been limited despite European equity futures’ 0.35% fall this morning.

  • The OAT/Bund spread is 1bp tighter at ~76.5bps. French Finance Minister Armand is set to present the new Government’s “policy priorities” at a Eurogroup meeting today, with further details of the 2025 budget set to be delivered on Wednesday (Oct 9).
  • Last week, the Government announced E60bln of fiscal measures (both spending cuts and tax rises) to rein in its deficit, which is on track to be 6.1% of GDP this year.
  • The 10-year BTP/Bund spread hovers around the 130bps handle after Friday’s narrowing.
  • In Portugal, Prime Minister Montenegro said he was open to talks with opposition leader Santos as he prepares to present the 2025 budget on Thursday.
  • ECB Chief Economist Lane is scheduled to speak at 0845BST/0945CET.