FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

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

USTs / gilts move lower while Bunds remain supported on dovish ECB hopes

BONDS
  • Treasuries and gilts are off of yesterday's highs but Bunds have been more range-bound today and hit their highest level since early October this morning.
  • The German curve has been driven by a Bloomberg sources story which suggests a 50bp hike is more likely than 75bp from the ECB at its December meeting. This has also seen Euribor Whites move higher (in contrast to the moves seen) in SONIA / Eurodollar futures.
  • Both Treasuries and gilts have moved lower this morning ahead of the UK Autumn Statement (mini-budget). We have set out our expectations for the Autumn Statement in our preview here. The market will be focusing on both the new gilt remit and the wider tone of the statement. In terms of individual policies the market would like (but may not get today) more details on the replacement for the Energy Price Guarantee from April.
  • There are a number of Fed, ECB and BOE speakers later today as well as weekly claims data and US housing data.
  • TY1 futures are down -0-9 today at 112-29+ with 10y UST yields up 4.3bp at 3.735% and 2y yields up 1.3bp at 4.370%.
  • Bund futures are up 0.16 today at 140.54 with 10y Bund yields down -0.7bp at 1.987% and Schatz yields down -1.1bp at 2.035%.
  • Gilt futures are down -0.24 today at 106.28 with 10y yields up 2.8bp at 3.170% and 2y yields up 5.9bp at 3.025%.
HomepageBulletMarketsFixed Income BulletsForeign Exchange Bullets

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.