EUROPEAN FIXED INCOME UPDATE: another lame bounce in bonds
Analysis details (10:45)
Debt futures were already fading from recovery highs before the latest bearish catalyst from Germany and Parliamentary permission to shelve the fiscal brake after the top up of existing benchmarks also aimed at providing extra funds to cover energy price support measures. However, that was enough incentive for sellers to test the water nearer 134.00 in Bunds and breach or probe the last two technical levels standing in the way, while Gilts saw knock-on downside pressure towards the base of their 97.95-96.72 and 109-15/109-03+ respective ranges. Ahead, Canadian retail sales the only scheduled pm data, so Fed commentary via Williams and Evans will be in focus after 13.30BST and before a raft of ratings are reviewed by S&P, Moody’s and Fitch.
21 Oct 2022 - 10:45- Fixed IncomeData- Source: Newsquawk
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