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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.
BUNDS
The 10.9bp drop in the 10Y German yield is the biggest since April 28 - but not a huge outlier in terms of daily moves this year.
- More interesting with the 2Y segment relatively unchanged (see our earlier STIR note on limited moves in ECB hike pricing) is the ~7bp fall in the 2s10s spread.
- That is the biggest drop since March 21's -8.8bp and a close at this level would mark the joint-4th biggest daily inversion in this curve segment in 2023.
- German 2s10s now sit at -71.6bp, through March 8th's -69.5bp low and the most inverted level since 1992.
Source: BBG, MNI
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.
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