BNP Paribas Favors 5-Year Gilts Vs German Peers Ahead of BOE, German Funding Plan -- Market Talk

Dow Jones12-15

1036 GMT - BNP Paribas favors buying five-year U.K. gilts against their German equivalents, its analysts say in a note. Thursday's Bank of England and European Central Bank meetings, as well as Germany's release of its 2026 borrowing plans favor gilts over Bunds, they say. The bank's trade is also supported by falling U.K. net supply and rising German issuance in 2026, BNP Paribas analysts say. The five-year U.K. gilt yield trades at 3.935%, down 1.9 basis points, while the five-year Bobl yield is down 1 basis point at 2.458%, according to LSEG. (emese.bartha@wsj.com)

 

(END) Dow Jones Newswires

December 15, 2025 05:36 ET (10:36 GMT)

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