January 23, 2025 09:29 GMT
BONDS: TY & Gilt Futures Pierce Yesterday's Lows
BONDS
Some weakness evident in core global FI markets, with TY, Bund & gilt futures at fresh session lows. TY and gilt futures have pierced yesterday’s lows during the move.
- A couple of factors seemingly at play here:
- An uptick in oil and EUR natural gas prices.
- Setup for French supply.
- EGB spreads to Bunds generally wider, driven by the presence French supply and a downtick in equities, BTPs & OATs widen by ~2bp at the 10-Year point.
- French fiscal headlines (covered earlier) another potential spread widening catalyst.
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