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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.
BTP
- All the peripheral spreads are tighter this morning, with Italy (BTP) in the lead, by 3.6bps.
- BTP/Bund spread has tightened close to 10bps this week, after it traded at the widest level since July 2020 on Monday.
- Main driver has been the outperformance of the BTP, after the contract found a base at the 2% high yield level, printed a 2.01% high yesterday.
- In terms of technical for IKH2, upside resistance will be seen at the 139.84/140.24 gap (8th/9th February).
- In yield terms, support is at 1.811% (23.6% retrace of the Feb rally), and this reference 139.59 would equate to 140.21
- Further upside momentum will eye that gap and yield area for potential paying flows.
Chart source: Bloomberg
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.
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