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Failing to capitalise on moves higher

EGB SUMMARY

After being the outperformers in core fixed income this morning, Bunds have failed to capitalise on the moves higher and Treasuries are now the outperformers of the day.

  • Focus this morning had continued to focus on yesterday's supply announcement and weak inflation prints but there is increasing focus on the US presidential tonight.
  • Peripheral spreads have continued to widen through the day.
  • Bund futures are up 0.08 today at 174.70 with 10y Bund yields down -0.8bp at -0.536% and Schatz yields unch at -0.709%.
  • BTP futures are up 0.46 today at 148.01 with 10y yields down -3.6bp at 0.842% and 2y yields down -1.1bp at -0.236%.
  • OAT futures are up 0.12 today at 168.82 with 10y yields down -0.9bp at -0.262% and 2y yields down -0.4bp at -0.669%.

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