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

Yields At Lows of Day

BTP

10-year BTPs yields have come off the highs to now trade at the lowest levels of the day, currently 5.3bps lower at 4.783%. The 10-year BTP/Bund spread falls back below the 200bp mark - now 8.6bps tighter on the day at 197.8bps.

  • The strong performance of European equities alongside the softer USD has helped BTPs alongside peripheries more generally to find a bid.
  • Concerns on Italy's growth and fiscal outlook remain relevant (see MNI Policy Mainwire at 13:17 and 13:33 BST for more), but have not been at the forefront of market moves this week. Expectations that the ECB has reached peak rates and are not expected to change QT in the near future remain the key themes.
  • Industrial Production was the only datapoint on the Italian docket this week, and printed better than expected (but still weak at -4.2% Y/Y).
  • Elsewhere in the peripheries, Portugal's budget proposal sees 2024 GDP growth of 1.5% Y/Y (vs an expected 2.2% Y/Y in 2023). The 10-Yr PGB yield is down 3bps at 3.539% today.
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.