Free Trial

Eurex closed in a quiet European session

BOND SUMMARY

It's been a very quiet European morning session with the Eurex exchange closed for a holiday and the only cash EGBs trading are Greece and Cyprus. Gilts have surpassed yesterday's higher while Treasuries are a tiny bit higher than at yesterday's close.

  • There has been little FI-centric news this morning with year-end flows continuing to dominate. China announced that it would reduce the weighting of USD in its CFETS index in favour of an increase in the weight of EUR. There has been little immediate impact, but this is something that could have some impact on fixed income in the medium-term if China's also increased its FX reserves held in EGBs and reduced Treasury holdings.
  • The last noteworthy data release of the year will be jobless claims.
  • TY1 futures are up unch today at 137-31 with 10y UST yields down -0.1bp at 0.924% and 2y yields down -0.2bp at 0.122%.
  • Gilt futures are up 0.11 today at 135.36 with 10y yields down -0.7bp at 0.204% and 2y yields down -0.9bp at -0.167%.

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.