MNI BRIEF: China To Keep Stabilising Housing Market - CEWC

MNI BRIEF: China Focus On Boosting Consumption In 2025

MNI BRIEF: China To Cut Rates, Boost Borrowing-Work Conference

MNI China Daily Summary: Thursday, December 12

MNI BRIEF: Beijing To Protect Firms From U.S. Bill - MOFCOM

MNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday

MNI: SWEDEN FINAL NOV CPIF +1.8% Y/Y

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Gilts outperform with core FI higher across the board

BONDS
  • Gilts are the outperformers in core fixed space this morning with the front-end of the curve seeing the most repricing with 2-year gilt yields down over 25bp on the day. 10-year gilt yields are down over 10bp on the day too, while the 10s30s curve is flatter on the day (i.e. more inverted) but still around 7bp off yesterday's cycle lows. PM Liz Truss and Chancellor Kwasi Kwarteng are due to meet OBR Chair Richard Hughes this morning with the market hoping that the Budget and full OBR forecast (scheduled for 23 November will be brought forward).
  • In the Eurozone the focus has been on inflation - with French HICP surprising to the downside, but the Eurozone print higher than expected (Italian HICP was in line). Markets have not fully reversed the rally on the back of the French disappointment this morning and EGBs are bull steeper on the day.
  • In the US we have personal income / spending data due at 13:30BST alongside the PCE deflator. We also have the MNI Chicago Business Barometer and the final print of Michigan sentiment.
  • There are a number of Fed speakers due: Bullard, Brainard, Bowman, Barkin and Williams. We will also see comments from ECB's Visco and Schnabel.
  • TY1 futures are up 0-6 today at 112-20+ with 10y UST yields down -7.9bp at 3.710% and 2y yields down -3.3bp at 4.162%.
  • Bund futures are up 1.09 today at 138.59 with 10y Bund yields down -7.2bp at 2.106% and Schatz yields down -4.6bp at 1.739%.
  • Gilt futures are up 0.48 today at 970.01 with 10y yields down -9.5bp at 4.042% and 2y yields down -24.6bp at 4.087%.
HomepageBulletMarketsFixed Income BulletsForeign Exchange Bullets

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.