CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

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 still outperform but Bunds playing catch up

BONDS
  • Gilts were the early outperformers in core FI space after inflation data which was marginally weaker than economists' expectations but led to a reassessment of market pricing, reducing the probability of 75bp hikes from the Bank of England. Lower oil prices have also led to core fixed income generally moving higher (yields lower) with 10y Bunds almost having caught up to the moves seen in gilts, but both outperforming US Treasuries.
  • The focus will now begin to turn to Powell's semi-annual testimony where markets will be watching for any clues on the Fed's near-term plans (50bp, 75bp or 100bp in July?) and also on longer-term expectations and the probability of the Fed's policy inducing a recession.
  • We will also hear from Fed's Barkin, Evans and Harker while Canadian CPI will be closely watched north of the border.
  • TY1 futures are up 0-16 today at 116-09+ with 10y UST yields down -4.7bp at 3.231% and 2y yields down -4.7bp at 3.151%.
  • Bund futures are up 1.13 today at 144.46 with 10y Bund yields down -9.2bp at 1.675% and Schatz yields down -6.6bp at 1.067%.
  • Gilt futures are up 0.80 today at 111.58 with 10y yields down -10.2bp at 2.550% and 2y yields down -12.3bp at 2.175%.
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.