© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

CANADA GIVING UKRAINE CAD650 MILLION OVER 3 YEARS

FED'S DALY SAYS PATIENCE IS A PRUDENT STRATEGY RIGHT NOW

MNI BRIEF: ECB “Can’t Rule Out Cuts” On Latest Info - De Cos

EZ/UK T-Bill Calendar: Germany And France To Issue On Monday

MNI: US SEP FLASH S&P MANUF PMI 48.9 (FCST 48.2); AUG 47.9

MNI: CANADIAN JUL RETAIL SALES +0.3%; SALES EX-AUTOS/PARTS +1.0%

MNI BRIEF: Canada Shows No Progress Closing Housing Shortfall

MNI BRIEF: Highlights From BOC Governor Macklem Speech

MNI BRIEF: Finance Minister Calls BOC Pause 'Welcome Relief'

Euribor moving lower is the highlight of the session so far

BONDS
  • The most notable moves in core fixed income this morning have been in the Euribor strip. There has been downward pressure since 7:45BST when French HICP data came out 3 tenths higher than expected. The moves lower for Euribor have continued despite the pan-Eurozone and Italian HICP prints coming in in line with expectations and the strip is up to 9.0 ticks lower, with the Jun-23 contract seeing the biggest move. Eurodollar and SONIA strips have moved a little lower in sympathy, but both are outperforming the Euribor strip.
  • Euribor futures have dragged Schatz yields higher, and we have also seen 2-year UST yields move higher this morning.
  • Bund futures started to move lower around 9:30BST/4:30ET - there was little data released at that time (in what has been a very busy data session), so it seems as though the moves lower in Euribor are pulling the whole German curve lower.
  • In the rest of the session we still have US PCE, personal income / spending, the MNI Chicago Business Barometer and the final print of Michigan confidence to be released.
  • TY1 futures are up 0-1 today at 119-12+ with 10y UST yields up 3.5bp at 2.860% and 2y yields up 4.9bp at 2.668%.
  • Bund futures are down -0.01 today at 154.14 with 10y Bund yields up 0.6bp at 0.904% and Schatz yields up 3.8bp at 0.232%.
  • Gilt futures are up 0.12 today at 118.97 with 10y yields down -1.5bp at 1.860% and 2y yields up 0.1bp at 1.536%.
HomepageBulletMarketsFixed Income NewsForeign Exchange News

To read the full story

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.