POWER: EC Allocates €113mn for Baltic Energy Infrastructure Resilience Projects
Jan-28 09:48
The EC has allocated 113mn to fund critical energy infrastructure resilience projects in Lithuania, ...
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MNI EXCLUSIVE: Sources close to Chinese policymakers anticipate major policy ann
Dec-29 09:18
Sources close to Chinese policymakers anticipate a major policy announcement.- On MNI Policy MainWire now, for more details please contact sales@marketnews.com
CROSS ASSET: Downside In Stocks Lends Support To Bonds
Dec-29 09:15
Fresh downside in e-minis and a move off early highs in European equity benchmarks (which now trade lower on the day) provides some background support to core global FI markets.
- Early London highs remain intact in TY & Bund futures, while gilt futures edge away from fresh session highs in recent trade.
GILTS: Rallying Alongside Peers
Dec-29 08:25
UK paper plays catch up to the rally in wider core global FI markets.
- Futures trade as high as 91.30, through initial resistance at 91.18. Next upside level of note 91.78.
- Conversely, initial support is located at 90.50.
- Yields 1-3bp lower, curve flatter.
- 10s back below 4.50%, oscillating around that level since early December.
- 2s10s 1bp lower at 75.9bp after the recent steepening move failed to breach 80bp, leaving the November high (80.31bp) intact.
- Gilt/Bunds stable around 164bp after the recent failed foray below 160bp.
- GBP STIRs trade around pre-gilt open levels identified earlier. Next 25bp BoE rate cut fully discounted through June, ~39bp of easing priced through November.
- Little in the way of meaningful UK news flow since markets closed for Christmas, with broader geopolitical matters at the fore.
- No tier one UK data releases are due until the new year.
