Free Trial
GBPUSD TECHS

20-Day EMA Marks Support

EURUSD TECHS

Extends This Week’s Decline

US 10YR FUTURE TECHS

(H2)‌‌ Downtrend Intact

US EURODLR OPTIONS

Late Put Trade

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

PMIs Paint Mixed Picture

BOND SUMMARY

European govies trade mixed this morning alongside broad equity gains, modest upside for oil and G10 FX strength vs the USD.

  • The gilt curve has bear steepened with the 2s30s spread 2bp wider.
  • Bunds started the session on a strong footing and have gradually traded weaker and back to unch on the day. Last yields: 2-year -0.7680%, 5-year -0.7714%, 10-year -0.5651%, 30-year -0.1454%.
  • OATs have similarly given up some of the early gains while continuing to trade above yesterday's close.
  • BTPs have rallied with cash yields 2-4bp lower on the day.
  • French preliminary PMI data for October was a touch weaker than expected while the German composite surprised higher on the back of a strong outturn for manufacturing (58.0 vs 55.0 survey). There was a marginal improvement in the Eurozone composite, which remains in contraction territory. The UK PMIs remain healthy, with only a slight deterioration in the services estimate (52.3 vs 53.0). UK retail sales were also stronger than expected in September (Ex auto: 1.6% M/M vs 0.5% survey)
  • The DMO earlier sold GBP1.75bn of 1-/3-/6-month T-bills.
MNI London Bureau | +44 0203-865-3808 | bruce.jeffery@marketnews.com
MNI London Bureau | +44 0203-865-3808 | bruce.jeffery@marketnews.com
Sign up now for free access to this content.

Please enter your details below and select your areas of interest.