EUROPEAN FIXED INCOME: bonds mainly weak pre-US labour market report
Analysis details (10:21)
Aside from some minor outperformance at the Eurozone margins and the long end of the Treasury curve, debt futures are observing caution in the run up to NFP that crowns a holiday-shortened week and may provide more justification for the Fed to skip a tightening beat this month, barring a ‘blow-out’ or blockbuster BLS survey. In fact, Bunds are losing further traction from 136.00 following an opening 136.36 Eurex print and edging closer to Thursday’s session low at 135.84 vs 135.60, Gilts are struggling to stay afloat of 97.00 within a 97.43-96.62 Liffe range and the T-note is closer to 114-19+ overnight trough than 114-24+ peak. Buoyant risk appetite, feeding through to crude and other commodities is weighing as China mulls additional measures to prop up its property market.
02 Jun 2023 - 10:20- Fixed IncomeResearch Sheet- Source: Newsquawk
Subscribe Now to Newsquawk
Click here for a 1 week free trial
Newsquawk provides audio news and commentary for over 15,000professional traders and brokers worldwide. Services include:
- Real-time audio coverage from 0630 to 2200 London time plus Asia-Pac 2200 to 1000 London time
- Teams of analysts covering equities, fixed income, FX, energy, and metals markets
- Real-time scrolling news service with instant analysis
- Daily and weekly pre-market research and calendars
- Video updates covering near-term key risk events & primary trading themes
- One-to-one chat with our expert analysts