Free Trial

Issuance was Wednesday`s theme in the...>

EGB SUMMARY
EGB SUMMARY: Issuance was Wednesday`s theme in the EGB space, with nearly E16bln
total sold in syndications and auctions.
- Portugal and Germany sold M/L-term bonds in the morning, while periphery
issuers Spain (E6bln in new 10-Yr benchmark 0.6% Oct-29) and Italy (also E6bln
in new 20-Yr 3.1% Mar-40) took advantage of low prevailing yields.
- Spain spreads flat to Germany, but Italy 10-Yr wider by 3bps (265bps).
- Short-end outperforming on German curve, in line with the U.S. following
weaker-than-expected2-Yr yield is down 1bps at -0.68%, 5-Yr is down 0.6bps at
-0.595%, 10-Yr is down 0.6bps at -0.238%, and 30-Yr is down 1.8bps at 0.368%.
- Euribor moving up 1/1.5 ticks, Dec19 on course for a contract-high close.
- Thursday`s data highlight is April Eurozone industrial production (we also get
final German May inflation data). No ECB speakers scheduled.
- Latest futures prices:
* Sep Bund futures (RX) up 12 ticks at 171.48 (L: 171.32 / H: 171.62)
* Sep BTP futures (IK) down 99 ticks at 130.77 (L: 130.69 / H: 131.35)
* Sep OAT futures (OA) down 7 ticks at 163.26 (L: 163.17 / H: 163.44)

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.