CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

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 plummet on PMIs miss

BONDS
  • An incredibly busy day for EGBs and Bund (and Global Bonds), with the moves all triggered following the European PMIs miss this morning.
  • Bonds have seen upside continuation through the day, and extended even higher, following US PMIs also missing estimates.
  • Yields collapsed across the board, as recessions fears takes hold.
  • German 5yr Yield saw the largest 1 day fall since 1998.
  • Bund 10yr tested the 1.40% yield support.
  • Buxl trades close to a 700 ticks range, Bund nearly 400 ticks, and Bobl a whooping near 200 ticks.
  • Even Rate contract (Euribor), sees circa 40 ticks ranges.
  • All the developed countries spreads are wider against the German 10yr.
  • In peripherals Greece is in the lead by 11.3bps.
  • Looking ahead, ECB Nagel and Villeroy are yet to speak, while Powell is testifying before the house (has already started).
  • Sep Bund futures (RX) up 284 ticks at 148.12 (L: 144.81 / H: 148.45)
  • Germany: The 2-Yr yield is down 26.8bps at 0.794%, 5-Yr is down 28.6bps at 1.135%, 10-Yr is down 22.6bps at 1.412%, and 30-Yr is down 16.3bps at 1.672%.
  • Sep Gilt futures (G) up 158 ticks at 113.95 (L: 111.93 / H: 114.12)
  • UK: The 2-Yr yield is down 21.2bps at 1.932%, 5-Yr is down 21.2bps at 1.954%, 10-Yr is down 19.2bps at 2.307%, and 30-Yr is down 16.5bps at 2.566%.
  • Sep BTP futures (IK) up 176 ticks at 122.52 (L: 120.05 / H: 122.7)
  • Sep OAT futures (OA) up 245 ticks at 138.34 (L: 135.52 / H: 138.63)
  • Italian BTP spread up 2.9bps at 193.6bps
  • Spanish bond spread up 1.2bps at 109.1bps
  • Portuguese PGB spread up 4.3bps at 108.1bps
  • Greek bond spread up 12.7bps at 236.2bps
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.