Trial now
BONDS

Gilts/Bund spread tightest since 11/02

EGB SYNDICATION

Italy 7Y CCTeu Priced, E6bln Size

US TSY OPTIONS

5Y Vol Buyer, 10Y Put Ongoing

STIR FUTURES

BLOCK, 3M SOFR Strip

Steady ahead of Summit

US TSYS SUMMARY

US Treasuries traded within their overnight ranges during our European morning session.

  • Curve has remained flat, and the contracts are trading in green territory, with Equities off their best levels.
  • Investors have generally stayed on the sideline as the globe awaits on the EU Summit/Brexit conclusion.
  • Looking ahead, US Retail sales, industrial production & the Uni of Michigan confidence. Fed William and Bullard.
  • Earning season continues with State Street reporting today.
  • But most of the attention is on EU Summit conclusion, and potential progress on US Stimulus, after Mnuchin told Pelosi that US President Trump would be willing to put forward a deal they would have agreed upon.
  • TY1 futures are up 0-2 today at 139-06
  • 2y yields down -0.4bp today at 0.136%
  • 5y yields down -0.9bp today at 0.305%
  • 10y yields down -1.0bp today at 0.723%-
  • 30y yields down -1.4bp today at 1.500%
  • 2s10s down -0.6bp today at 58.7bp
  • 10s30s down -0.4bp today at 77.7bp
MNI London Bureau | +44 203-865-3806 | fabrice.benhassine@marketnews.com