Multi-Asset Strategy Daily

Mizuho's daily report analyzes the impact of UK political turmoil on Gilt markets and notes a bull-flattening trend in USTs following soft labor market comments. It also covers upcoming Eurozone sovereign debt supply and improved sentiment in Japanese equities.

Key Takeaways

• 1.UK political instability is driving significant Gilt volatility and term premia as markets weigh the risk of Prime Minister Starmer stepping down.
• 2.US Treasury markets are seeing bull-flattening momentum following labor market commentary and ahead of the NFP report.
• 3.Eurozone sovereign curves are twist-steepening, partly driven by expectations of new 30Y benchmark issues from Spain or France.

Table of Contents

• USD
• EUR
• GBP
• JPY
• Important Information
• Disclaimer

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