EUROPEAN FIXED INCOME UPDATE: ad infinitum for UK debt after benign CPI
Analysis details (10:50)
Upcoming DMO supply may sap some momentum from Gilts if demand dips on a lack of concession that seems to have been the case in Germany, but for now it’s one-way traffic as the 10 year bond continues to advance on the back of softer than consensus inflation metrics. The pace of the rally has slowed somewhat approaching 98.00 or maybe as gains on the day get close to a whopping 200 ticks, at 97.84 from Tuesday’s 95.85 Liffe settlement level. However, Gilts are extending their advantage over Bunds and the T-note as the former sheds gains between 134.88-01 parameters and the latter within a 13-06+/112-22 range.
19 Jul 2023 - 10:50- Fixed IncomeData- Source: Newsquawk
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