Free Trial

US President Donald Trump's latest.....>

BOND SUMMARY
BOND SUMMARY: US President Donald Trump's latest tariff threat against China has
roiled markets and provided yet another reminder of the intensifying global
economic headwinds. 
- USTs have bull flattened with the very long-end outperforming. The 2s30s
spread has narrowed 3.6bp on the day with the 30-year benchmark yield ~6bp
lower.
- JGBs have been caught in the crossfire with yields 2-4bp lower. Current yield
levels: 2-year -0.209%, 5-year -0.256%, 10-year -0.170%, 30-year 0.321%.
- The very long-end of the bund curve has rallied sharply with the 30-year
benchmark inching closer to negative territory. The 30-year Bund-JGB spread now
trades at 29.7bp.
- Italy has bucked the regional rally. BTP yields broadly trade 2bp higher.
- Amplified rhetoric on no-deal Brexit is keeping gilts bid. Current yield
levels: 2-year 0.429%, 5-year 0.336%, 10-year 0.557%, 30-year 1.240%. 
- Next up on the data calendar will be US NFP and wage data at 1330 London time,
followed by factory orders.   

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.