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Gilts and BTPs the early movers

BONDS

Gilts and BTPs are the notable movers.

  • Gilts are outperforming after inflation data this morning failed to be consensus expectations by as much as some market participants had been hoping for.
  • While BTP spreads have narrowed this morning as Mario Draghi addresses the upper house ahead of a confidence vote due early evening.
  • TY1 futures are up 0-2 today at 118-01 with 10y UST yields down -3.3bp at 2.990% and 2y yields down -4.3bp at 3.199%.
  • Bund futures are up 0.35 today at 151.45 with 10y Bund yields down -2.6bp at 1.247% and Schatz yields down -1.0bp at 0.610%.
  • BTP futures are up 0.59 today at 123.83 with 10y yields down -7.9bp at 3.241% and 2y yields down -11.2bp at 1.565%.
  • Gilt futures are up 0.63 today at 115.13 with 10y yields down -4.6bp at 2.131% and 2y yields down -3.8bp at 1.983%.

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