CZECHIA: Coalition Parties Discuss Electoral Lists, Retail Sales Beat Forecasts
Feb-05 08:40
* Seznam Zpravy described the negotiations on election candidate lists between members of the Spol...
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GILTS: Under Pressure Alongside Peers
Jan-06 08:31
A sell off in wider core global FI markets weighs on gilts.
- Futures as low as 91.81.
- Bearish trend in the contract remains intact, next support seen at the Dec 19 low/bear trigger (91.64).
- Yields 2-3bp higher, curve steepens.
- 2s10s last 17.8bp, ~2bp off last week’s multi-month high.
- 5s30s ~77.1bp, 3-4bp below December’s multi-month high.
- SONIA futures under fresh pressure as gilts sell off, last flat to -4.0.
- SFIZ5 11.5 off its December low.
- BoE-dated OIS prices 55.5bp of cuts through year-end vs. 56-57bp early today.
- The BoE will sell GBP725mln of medium-term gilts from its APF this afternoon.
- Calendar ’25 DMO issuance gets underway tomorrow, via GBP2.25bln of 4.375% July 54 gilts.
CROSS ASSET: EUR extends gains post Spanish PMIs
Jan-06 08:21
- A good beat from Spain, but no real impact in Bund, with desks likely more focussed on the German CPIs.
- The EURUSD has extended higher, but the initial push higher was more a function of the Dollar, as its tests broader lows against the GBP, CZK, PLN, MXN, SGD, CHF, ZAR, SEK and NOK.
MNI: SPAIN DEC SRVCS PMI 57.3 (FCAST 54.1); NOV 53.1
Jan-06 08:15
- MNI: SPAIN DEC SRVCS PMI 57.3 (FCAST 54.1); NOV 53.1
