Markets Core bonds drifted south yesterday in the run-up to this week’s big events, starting with January PMI surveys today. Daily changes on the US yield curve ranged between -2.1 bps (2-yr) and 4.3 bps (30-yr). German yields rose by 2.5 bps (2-yr) to 7.9 bps (30-yr). The ECB’s lending survey (sharpest tightening in credit […]
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UK PMI Manufacturing was finalized at 53.7 in April, up strongly and marking the highest level since May 2022. The rebound reflects a recovery from March’s weakness, with output, new orders, and employment all improving, Read more…