© 1982-2022 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial
US 10YR FUTURE TECHS

(U2)‌‌ Corrective Cycle Still In Play

EUROZONE ISSUANCE

EU H2-22 funding plan

CROSS ASSET

Equities are extending gains

UK T-BILL AUCTION RESULTS

1/3/6-month UKTBs

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
Trending Top 5
Topics

Periphery Correlation With ECB Hiking Expectations Largely Intact

EGBS
BulletMarketsFixed Income

Periphery EGB spreads look to be ending the week on a sour note: BTP spreads widening pretty sharply today, with 10Y out 8.5bp vs Bunds - through 200bp but still off the 206bp May high. 17+bp wider in Greek spreads as well.

  • Not quite true on an intraday basis, but bigger picture, correlations with ECB hiking expectations remain intact. The risk-on/risk-off correlation with stocks has been pretty limited overall over the past week or so though - and the sharp retracement in equities this afternoon hasn't really had any impact on BTP spreads.

10Y BTP Spread, End-2022 ECB Rate Hike Pricing, And Eurostoxx Future (Inverted)Source: BBG, MNI

130 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

Periphery EGB spreads look to be ending the week on a sour note: BTP spreads widening pretty sharply today, with 10Y out 8.5bp vs Bunds - through 200bp but still off the 206bp May high. 17+bp wider in Greek spreads as well.

  • Not quite true on an intraday basis, but bigger picture, correlations with ECB hiking expectations remain intact. The risk-on/risk-off correlation with stocks has been pretty limited overall over the past week or so though - and the sharp retracement in equities this afternoon hasn't really had any impact on BTP spreads.

10Y BTP Spread, End-2022 ECB Rate Hike Pricing, And Eurostoxx Future (Inverted)Source: BBG, MNI