23 Dec 2014
Core bond markets firm – BBH
FXStreet (Barcelona) - The Brown Brothers Harriman Team notes that the core bond markets are slightly firmer with US 10y yields continuing to trader around 2.15%, while Greek bonds remain under pressure ahead of the presidential selection process.
Key Quotes
“Core bond markets are slightly firmer, while peripheral bonds are lower. European bond yields mostly fell to new record lows yesterday and today's tone is really one of consolidation.”
“Greek bonds were under some pressure ahead of the second round of the presidential selection process today, but traded higher as 168 votes were recorded for Dimas compared with 160 in the first round. Dimas needs 180 votes on December 29, or the country faces national elections in late January/early February. The anti-austerity Syriza party is ahead in the polls. The party with the most votes gets a 50-seat "gift" in the 300 member parliament.”
“While the US 10-year yield continues to trade around 2.15%, the 2-year yield is near 70 bp as short-end of the curve reflects the expectation of policy rates.”
Key Quotes
“Core bond markets are slightly firmer, while peripheral bonds are lower. European bond yields mostly fell to new record lows yesterday and today's tone is really one of consolidation.”
“Greek bonds were under some pressure ahead of the second round of the presidential selection process today, but traded higher as 168 votes were recorded for Dimas compared with 160 in the first round. Dimas needs 180 votes on December 29, or the country faces national elections in late January/early February. The anti-austerity Syriza party is ahead in the polls. The party with the most votes gets a 50-seat "gift" in the 300 member parliament.”
“While the US 10-year yield continues to trade around 2.15%, the 2-year yield is near 70 bp as short-end of the curve reflects the expectation of policy rates.”