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Futures Tick Away From Lows, Yields Marginally Softer On Day

BUNDS

Bunds ticked higher in early Friday trade, with dovish flows in the STIR space seemingly helping. The front end of the Euribor strip unwound the modest downtick covered earlier, with ECB-dated OIS briefly moving towards pricing 175bp of cuts in ’24.

  • The rally in Bund futures topped out at 138.37, before the contract backed off to the 138.20 area, sticking comfortably within yesterday’s range thus far.
  • German cash yields are 1-2bp lower across the curve.
  • Recently released preliminary Dec Spanish CPI data was generally a little softer than exp.
  • A reminder that the time of the year will hamper market liquidity.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
HomepageBond Market NewsEuropean Central Bank (ECB) Market NewsBulletMarketsFixed Income Bullets
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
HomepageBond Market NewsEuropean Central Bank (ECB) Market NewsBulletMarketsFixed Income Bullets

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