EUROPEAN FIXED INCOME: just another hump in the road for bond bears
Analysis details (10:23)
Only time will tell, but it’s looking ominous for debt markets all over again, and just a day after buyers stepped back up to the plate. However, Bunds are now just ticks away from Wednesday’s 159.06 low and the virtual double base that would surely trip more stops if breached to threaten the round number below, while Gilts are unwinding more of the DMO-inspired outperformance near a new 120.61 intraday Liffe low and the 10 year T-note is closer to 122-22 overnight trough than 123-10 peak. Hence, it seems as though the midweek recovery may well go down as yet another false dawn and fleeting period of consolidation.
24 Mar 2022 - 10:22- Fixed IncomeResearch Sheet- Source: Newsquawk
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