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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.
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Free AccessEU, UK and US Govies trade heavy
- A mixed trading starts for EGB's and Bund, but futures are nonetheless in the red, and are trading in wide ranges (90 ticks for Bund).
- Volumes have been very low, with most investors on the sideline, ahead of a packed week for speakers, with the ECB Forum on the 27th/29th, German CPI on Wednesday, and the week ends with the EU CPI on Friday.
- Instead, investors and market participants will be on the lookout, for change in stance from Central Bankers, following a poor set of data last week.
- Peripherals are mixed, Greece is 8.4bps tighter, while Italy sits 2.5bps wider vs the German 10yr.
- Gilt trades inline with most of Europe and Germany, translating in a small 0.5bp wider Gilt/Bund spread.
- Similar story for US Treasuries. super light volumes, with just 170k lots traded overnight, and during the European morning session.
- Looking ahead, US Durable Goods, and ECB Lagarde are notable events.
- Sep Bund futures (RX) down 81 ticks at 147.13 (L: 146.92 / H: 147.82)
- Germany: The 2-Yr yield is up 3.9bps at 0.852%, 5-Yr is up 3.9bps at 1.202%, 10-Yr is up 4.4bps at 1.486%, and 30-Yr is up 3.3bps at 1.724%.
- Sep Gilt futures (G) down 47 ticks at 113.5 (L: 113.35 / H: 113.84)
- UK: The 2-Yr yield is up 4.6bps at 1.978%, 5-Yr is up 4.5bps at 1.999%, 10-Yr is up 4.9bps at 2.351%, and 30-Yr is up 5.9bps at 2.606%.
- Sep BTP futures (IK) down 82 ticks at 120.99 (L: 120.86 / H: 121.51)
- Sep OAT futures (OA) down 76 ticks at 137.58 (L: 137.46 / H: 138.38)
- Italian BTP spread down 1.3bps at 200.8bps
- Spanish bond spread up 0.9bps at 112.1bps
- Portuguese PGB spread up 1bps at 109bps
- Greek bond spread down 6.9bps at 226.9bps
To read the full story
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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.