EUROPEAN FIXED INCOME UPDATE: almost deja vu for debt futures
Analysis details (10:36)
Not quite post-PMI proportions, but hardly any calm consolidation after the midweek storm either given the extended rally in Bunds to 133.36 from a 132.69 Eurex low and Gilts to 94.95 compared to an early 94.51 base on Liffe. Conversely, the T-note has lagged within a narrow 109-31+/109-24 range in similar vein as yesterday before its PMI boost, and perhaps conscious that initial claims, durable goods, Fed’s Harker and/or Collins could prompt downside pressure before the spotlight shifts to JH in earnest. Note also, Treasuries may be suffering a bit of a hangover from Wednesday’s rather sluggish 20 year auction.
24 Aug 2023 - 10:36- Fixed IncomeData- Source: Newsquawk
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