Free Trial
EURGBP TECHS

Trend Needle Still Points North

US OUTLOOK/OPINION

RBC: Time For The Doves To Spread Their Wings

STIR

BLOCK, SOFR Conditional Curve Steepener

GBPUSD TECHS

Bullish Price Sequence

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Yields spike to decade high

BONDS
  • EGBs and Bund resumed their moves lower, after the big beat in German PPI set out the tone.
  • This was combined by the Riksbank hiking their rates by 100bps.
  • Bund now targets the June peak and highest print since January 2014, at 1.928%.This would equate to 140.84.
  • Next support for the German 2yr Schatz, is at 1.721%, the June 2011 high.
  • Reference 107.18 = 107.13.
  • German curve fades the earlier bid, and bear flattens.
  • Biggest move in peripheral is in the Greek/Bund spread widening by 14.4bps at one point, now by 11bps, following Moodys decision not to upgrade Greece last Friday.
  • Gilt trades inline with Germany translating in a flat Gilt/Bund spread for the early session.Treasuries are getting dragged lower by Europe, but still lag, pushing the Tnote/Bund spread 5bps tighter but within the September range.
  • US 10yr Real Yield rose to its highest level since 2011.While US 2yr Yield is highest since December 2007.
  • Looking ahead, there's no tier 1 data for the session, with most investors waiting on the FOMC tomorrow.
  • Speakers, only sees Lagarde left for the afternoon session.
173 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.
  • EGBs and Bund resumed their moves lower, after the big beat in German PPI set out the tone.
  • This was combined by the Riksbank hiking their rates by 100bps.
  • Bund now targets the June peak and highest print since January 2014, at 1.928%.This would equate to 140.84.
  • Next support for the German 2yr Schatz, is at 1.721%, the June 2011 high.
  • Reference 107.18 = 107.13.
  • German curve fades the earlier bid, and bear flattens.
  • Biggest move in peripheral is in the Greek/Bund spread widening by 14.4bps at one point, now by 11bps, following Moodys decision not to upgrade Greece last Friday.
  • Gilt trades inline with Germany translating in a flat Gilt/Bund spread for the early session.Treasuries are getting dragged lower by Europe, but still lag, pushing the Tnote/Bund spread 5bps tighter but within the September range.
  • US 10yr Real Yield rose to its highest level since 2011.While US 2yr Yield is highest since December 2007.
  • Looking ahead, there's no tier 1 data for the session, with most investors waiting on the FOMC tomorrow.
  • Speakers, only sees Lagarde left for the afternoon session.