Euro-Area Bonds Move Higher After Egypt Plane Hijack Report
Core EGBs, peripheral bonds moved higher while curves flatten ahead of light data calendar today and quarter-end this week; demand for safety supported instrument rises following reports of Egypt plane hijack.
According to recent media news, an Egypt Air flight from Alexandria to Cairo was hijacked on Tuesday.
The Spanish 10-year yields fell 4bps at 1.48%, Italian 10-year dropped 4bps at 1.27%, Portuguese 10-year tumbled 4bps at 2.93%, the benchmark German 10-Year yield slid 2bps at 0.16% and June bund futures rose 26 ticks at 163.28.
Furthermore, European bonds are likely to remain in demand despite modest gains forecast for equities, Dow Jones Newswires reported.
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