There have been a couple of interesting releases in what has otherwise been a calm weekend in terms of market relevant news. The risk-on move remains intact in this morning's trade with Asian stocks in positive territory.
Data on Chinese house prices released on Saturday showed continued increases. New house prices increased in 68 out of 70 Chinese cities last month.
The US stock indices ended Friday's session at new record highs. The risk-on move was fuelled by better-than-expected US consumer confidence data.
US Treasuries were sold off following the positive data surprise on Friday. The 10Y yield rose 9bp following the release and ended the session at 1.95%. The yield on 10Y JGBs has increased 4bp in this morning's trade, implying we are now back to Wednesday's level.
In the euro area the spread compression continued in Friday's session. 10Y Spain tightened 10bp and 10Y Italy 8bp relative to Bunds. Most noteworthy this past week was how well the peripherals performed in spite of the sharp increase in issuing activity.
To Read the Entire Report Please Click on the pdf File Below.
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Danske Daily: Asian Socks In Positive Territory
Published 05/20/2013, 07:25 AM
Updated 05/14/2017, 06:45 AM
Danske Daily: Asian Socks In Positive Territory
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