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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.
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Free AccessEGBs-GILTS: Lower Then Higher After BoE, German Factory Data
A back-and-forth start for Gilts and Bunds. German bonds weakened sharply on much stronger than expected Jun factory orders data, then rocketed to session highs a little after 0800BST with no particular headline catalyst. And Gilts weakened on the open after a more optimistic-than-expected BoE, but have moved sharply higher alongside Bunds.
Bull flattening in both curves. This despite a sharp move higher in equities after 0800BST. Periphery EGB spreads a little tighter.
Italy Jun IP data out at 0900BST; BoE embargoed press conference comments released at 1000BST.
It's the heaviest supply day of the week: we get up to E4.5B in Spanish bond sales, with France selling up to E9B. ** Latest levels:
- Sep Bund futures (RX) up 18 ticks at 177.28 (L: 176.92 / H: 177.32)
- Sep Gilt futures (G) up 10 ticks at 138.23 (L: 137.86 / H: 138.28)
- Sep BTP futures (IK) up 30 ticks at 147.66 (L: 147.28 / H: 147.76)
- Italy / German 10-Yr spread 0.5bps tighter at 147.3bps
To read the full story
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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.