EUROPEAN INFLATION: German National-Level Inline W/ MNI Tracking At 2.1% Y/Y

May-30 12:04

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* German national-level CPI printed 2.1% Y/Y, in line with consensus and in line with the MNI trac...

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EUROPEAN INFLATION: German inflation "surprise" in line with MNI tracking

Apr-30 12:03
  • German HICP came in a tenth higher than consensus expected at 2.2%Y/Y.
  • The national print also came in one tenth higher than consensus at 2.1%Y/Y - this is in line with the MNI tracking from the state estimates which indicated 2.1-2.2%Y/Y - so not a big surprise here.

GILT PAOF RESULTS: GBP1.124998bln of the 4.375% Mar-28 Gilt sold.

Apr-30 12:03
  • GBP1.125bln have been on offer.
  • This leaves GBP24.817bln of the gilt in issue.

BONDS: Light Support For Tsys On Latest DeepSeek News

Apr-30 11:57

Tsys rally a little on the back of the previously outlined DeepSeek news, while wider core global FI is less impacted given the focus on readthrough for the U.S. economy/equities.

  • Still moves in Tsys are modest with TY futures +0-04 over the last 30 minutes or so (next resistance at 112-12 intact), while yields are now 0.5-3.0bp lower on the day, curve bull flattens.