POWER: Sunnic Lighthouse Enters 2GW of PPAs So Far in 2025

The German Yields continue to push higher, the 10yr extends through the 2.50% mark, was quoted higher on the open.

The German 30yr will now be eyeing the November peak of 2.753%, which was also its highest level since 5th July.

For the 10yr German Yield:

• 2.55% = 131.59.
• 2.60% = 131.06.

In the 30yr:

• 2.753% = 127.82 in UBH5.

Gilt weakness extends on the move through yesterday’s low in futures, no fresh headlines seen.

• 10s target 4.70%, highs of 4.695% thus far, 30s register fresh multi-decade highs at 5.257%.

• The underperformance in Bund Futures weighted by the German supply, limiting any type of upside in early trade has pushed the Tnotes/Bund spread another 1.7bp tighter in early trade.
• The big US Data beat and how the Fed will proceeds on its rate, will be watched by the ECB going forward.
• The Tnotes/Bund spread has tightened from a 226.87bps December peak to 216bps now, its lowest level since Mid December.
• Further tightening bias, would see test towards 209.4bps.

(Chart source: MNI/Bloomberg).