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US EURODLR FUTURES

EDU2 Given

BONDS

Core FI Led Lower By YM

CNH

Sandwiched Between 50-DMA & 100-DMA

AUSSIE BONDS

AUCTION PREVIEW: ACGB Nov '32 Supply Due

JAPAN DATA

Japan May CPI 0.1% Y/Y; Energy Up

EGB SUMMARY

EGBs saw continuation from the European morning session, trading in red territory.

  • Bund are trading 46 ticks lower, initially weighed by supplies, but the contract is better offered, an the back of Equities retaining their bid.
  • Peripheral have taken their cue from core bonds, and have also drifted lower, but the lower pace of the moves, means that the spread are generally a touch tighter, with Greece still performing best at 2bps, 151.7bps in the spread against the German 1o year.
  • Latest levels:
  • Sep Bund futures (RX) down 46 ticks at 176.2 (L: 175.93 / H: 176.88)
  • Germany: The 2-Yr yield is up 2bps at -0.661%, 5-Yr is up 2.5bps at -0.651%, 10-Yr is up 3bps at -0.448%, and 30-Yr is up 3.6bps at -0.008%.
  • Sep BTP futures (IK) down 4 ticks at 147.52 (L: 147.13 / H: 147.7)
  • Sep OAT futures (OA) down 32 ticks at 168.37 (L: 168.11 / H: 168.83)10-Yr
  • Periphery EGB Spreads:Italian BTP spread down 2bps at 140.1bpsSpanish bond spread down 0.5bps at 75.2bpsPortuguese PGB spread down 0.4bps at 77.2bpsGreek bond spread down 2bps at 153.7bps
MNI London Bureau | +44 203-865-3806 | fabrice.benhassine@marketnews.com