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

US EURODLR OPTIONS

Mixed Wing Trade

FOREX
FOREX: Sterling let down by poor production numbers, USD mixed amid nervy equity
markets.
-GBP/USD dropped through the Asia lows after manufacturing production growth
slowed to the lowest rate of growth in close to a year, dragging GBP off what
was initially a strong performance after the BoE's hawkish tones yesterday. NOK
is at the bottom of the G10 table after CPI slumped and AUD is having a rare up
day as lumpy option expiries keep AUD/USD afloat, countering the relatively
dovish SOMP overnight.
-USD/JPY has reclaimed Y109 after the equity market inspired fall yesterday and
JPY remains generally weaker ahead of what is indicated to be a positive start
to the Friday Wall Street session (as per US equity futures).
-EUR's had a quiet morning, trading in a tight 30 pip range in Europe as markets
await fresh cues from the US. The USD index looks mixed and is a follower, not a
leader, so far today.
-Attention turns to Canada's jobs figures at 1330GMT before US wholesale numbers
at 1500GMT. BoE's Cunliffe speaks in California at 1645GMT.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com