Free Trial

Huge supply the talking point

BOND SUMMARY
  • Supply has been the biggest talking point in markets this morning with Belgium holding a syndication and bond auctions from the Netherlands, UK, Austria and Germany. In addition there has been a surge in corporate and SSA issuance.
  • Gilts have underperformed. Futures breached key support while comments from BoE Governor Bailey that sounded cautious on negative rates have pushed rate hike expectations further out.
  • Looking ahead there are a number of Fed speakers scheduled with George and Rosengren probably the most topical for FI markets.
  • TY1 futures are down -0-6 today at 136-07+ with 10y UST yields up 0.9bp at 1.156% and 2y yields up 0.2bp at 0.149%.
  • Bund futures are down -0.35 today at 176.58 with 10y Bund yields up 2.1bp at -0.477% and Schatz yields up 0.7bp at -0.696%.
  • Gilt futures are down -0.30 today at 133.89 with 10y yields up 2.7bp at 0.334% and 2y yields up 2.5bp at -0.100%.

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.