MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1843 Weds; -1.22% Y/Y

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due Wednesday

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

MNI: JAPAN NOV CORP GOODS PRICE INDEX +3.7% Y/Y; OCT REV +3.6%

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

Weaker Ahead Of ECB Decision; BTPs Underperform

EGBS

Core/semi-core EGBs have unwound the recovery seen through the Asia Pac session to trade lower on the day.

  • The weaker-than-expected German IFO reading had a limited impact, with markets awaiting the ECB decision and press conference at 1315GMT/1415CET and 1345GMT/1445CET respectively.
  • This morning's uptick in crude futures amid rising geopolitical risks will also have pressured the space.
  • Bunds trade at their weakest levels since early December, currently -34 at 133.57, with the 133.34/133.30 region (circa 2.40% in yield) the next downside level eyed.
  • The German and French cash curves have bear steepened, with yields 1-3bps higher.
  • Today's issuance slate featured only Italy's BTP Short Term and 5/15-year BTPei auction, which will have contributed to BTP underperformance in the periphery space. 10-year BTP/Bund yields are 1.6bps wider at 157.5bps.
BulletMarketsFixed Income BulletsHomepage
BulletMarketsFixed Income BulletsHomepage

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.