Free Trial

European government bonds have opened little...>

EGBS
EGBS: European government bonds have opened little changed with the exception of
BTPS which have found an early bid in wake of comments from Italy's finance
minister. German 10-yr yield is little changed at 0.4089, with curve marginally
steeper.
- Italy's Tria was reported to have said that they will go ahead with pension
reform and repeats the government is not questioning the Euro. 10-yr Bund/BTP
spread is 1bp tighter at 245bps. Although Citi analysts say that a confrontation
with the EU "cannot be ruled out" which could add to volatility in summer thin
markets.
- Bank of France forecast third quarter growth to be at 0.4% q/q, while Spain
industrial production rose 0.5% y/y in June below expectations of 1.9% y/y.
- No further data from the EU today and with no European sovereign bond supply
either, attention will remain on Italy budget discussions and any update on
US/China trade dispute.
- Euribor futures are steady to 1 tick higher led by blue contracts

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.