Free Trial

Pre-Meeting Pushback From ECB Applies Pressure

EGBS

ECB-speak flagged elsewhere helps keep the pressure on EGBs, albeit with the major benchmarks sticking to familiar ranges thus far. Bund bears still haven’t managed to test 135.00, at least for now.

  • While pushback against market pricing from hawkish Governing Council members Nagel & Holzmann isn’t a surprise given the degree and speed of rate cuts priced into the European short end, the weekend push back from Executive Board member Lane rounds off a more cohesive/wide-spanning round of pushback ahead of the pre-meeting blackout period (which goes into play later this week).
  • Also note that the downtick in EGBs comes with both oil and European natural gas futures trading on the backfoot.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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.