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Little Movement In EGB Spreads Vs. Bunds, Bunds Back From Post-UK CPI Highs
Bund futures move back below unchanged levels as the post-UK CPI impulse starts to wane, leaving the contract -5. German cash benchmarks sit little changed to 1bp cheaper.
- A quick reminder that bears target a break of initial support at 129.30, which held to the tick earlier.
- 10-Year core/semi-core EGB spreads are little changed vs. Bunds, while peripherals are flat to a touch tighter as Italy outperforms.
- The presence of impending 10-Year supply hasn’t resulted in any tangible widening pressure for GGBs.
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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.