RPT-MNI BOC WATCH: More Gradual Approach Seen After 50BP Cut

MNI BRIEF: Beijing To Protect Firms From U.S. Bill - MOFCOM

MNI: SNB CUTS KEY POLICY RATE BY 50 BPS TO 0.5%

MNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1854 Thurs; -1.13% Y/Y

MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI: SWEDEN FINAL NOV CPIF +1.8% Y/Y

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

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

Spread To Bunds Over 4bps Wider Today

BTP

The 10-year BTP/Bund spread has widened almost 4bps this morning, currently at 135.8bps (though down from an intraday high of 137.8bps). The spread is currently almost 20bps wider than the tightest levels seen in mid-March.

  • The widening has been broad-based across European peripherals, with today's Italian datapoints (ISTAT survey, PPI) not market movers.
  • We noted earlier global bond markets have been pressured by hawkish central bank speak from the Fed's Waller and BoE's Haskel, prompting peripheral underperformance.
  • BTP futures are -62 ticks at 118.85, off intraday lows after failing to make a clean break of the first support at 118.74 (the 20-day EMA).
  • The BTP cash curve has bear flattened alongside core peers, with cash yields 4 to 7bps higher on the day.
  • A reminder that March flash inflation is due tomorrow at 1000GMT/1100CET, with HICP expected at 1.5% Y/Y (vs 0.8% prior) and 1.4% M/M (vs 0.0% prior).
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.