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EGBS: Spreads To Bunds Tighter As European Equities Recover

EGBS
EurozoneBulletGlobalFixed Income BulletsRegionMarkets

10-year EGB spreads to Bunds are up to 1bp tighter this morning, with European equity futures having moved away from this morning’s lows.

  • 70bps continues to provide a floor for the 10-year OAT/Bund spread, with political/fiscal risks still prominent.
  • French PM Barnier is yet to form a cabinet, while political support from the far-right RN party is still not guaranteed.
  • The BTP/Bund spread is ~1bp tighter at 144bps, with the 10-year BTP yield eyeing the August low at 3.544% (this is after last week’s BBG benchmark roll pushed yields ~10bps higher on the generic ticker).
  • Today’s regional calendar is light, leaving focus on the US CPI report this afternoon.
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10-year EGB spreads to Bunds are up to 1bp tighter this morning, with European equity futures having moved away from this morning’s lows.

  • 70bps continues to provide a floor for the 10-year OAT/Bund spread, with political/fiscal risks still prominent.
  • French PM Barnier is yet to form a cabinet, while political support from the far-right RN party is still not guaranteed.
  • The BTP/Bund spread is ~1bp tighter at 144bps, with the 10-year BTP yield eyeing the August low at 3.544% (this is after last week’s BBG benchmark roll pushed yields ~10bps higher on the generic ticker).
  • Today’s regional calendar is light, leaving focus on the US CPI report this afternoon.