MNI BRIEF: China Passenger Car Sales Up In November Y/Y

MNI China Daily Summary: Monday, December 9

MNI BRIEF: China To Strengthen Policy Easing In 2025: Poliburo

MNI BRIEF: Mexico Inflation Down To 4.55% In November

MNI BRIEF: China Nov CPI Slows To 5-Month Low Of 0.2% Y/Y

MNI: PBOC Sets Yuan Parity Higher At 7.1870 Mon; -1.39% Y/Y

MNI JAPAN Q3 GDP REV +0.3% Q/Q; PRELIM +0.2%; MEDIAN +0.2%

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Mixed Price Action Though Bunds Trade Within Yesterday's Range

EGBS

EGBs see mixed price action early Wednesday, though Bund futures trade within yesterday's range.

  • Global core FI was pressured by a weak BoJ Rinban operation and Israeli cabinet approval of an Israel/Hamas hostage deal overnight, before Bund/OAT futures found support as European desks filtered in (potentially on the back of German fiscal headlines r.e. reinstating the 2024 debt brake late Tuesday and expectations for lower Gilt issuance in the UK Autumn Statement later today).
  • An additional bout of weakness came following hawkish comments from RBA Governor Bullock and financial stability concerns from today's ECB review, before price action reversed.
  • The short-term tone in Bund futures remains firm, though a break of the Nov 7/13 low of 129.35 would highlight a possible reversal. Today's 15Y supply represents 13.7k Bund equivalent, so is not expected to weigh significantly. Core/semi-core yields are -1bps lower to +2bps higher at typing.
  • Periphery spreads to Bunds are marginally tighter this morning. BTPs came under some pressure following headlines from the ECB's Financial Stability Review and ahead of today's exchange auction, but are off intraday lows.
  • Today's local docket is light, with ECB's Centeno (presenting Portugal's Financial Stability Report) and Nagel (panel at Osservatorio Permanente Giovani-Editori) not expected to be market movers. Flash Eurozone consumer confidence at 1500GMT provides the data highlight.
BulletMarketsFixed Income BulletsHomepage
BulletMarketsFixed Income BulletsHomepage

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.