EUROPEAN FIXED INCOME UPDATE: bond bears continue to feast
Analysis details (10:59)
Some encouraging elements in the details of the latest German 5 year auction, like a healthier looking 1.5 cover ratio, but it came via a slightly larger retention and it took a three-fold rise in average yield to get more buyers involved. Hence, the jury remains very much out in debt as to whether futures have reached oversold levels and yields are close to being overextended as Bunds, Gilts and the 10 year T-note sit just over yet another fresh set of cycle lows (153.58, 117.53 and 119-09 respectively), with equivalent cash rates eyeing 95 bp, 2% and 2.9%. Ahead, US and Canadian housing data and some Central Bank speakers.
19 Apr 2022 - 10:49- Fixed IncomeResearch Sheet- Source: Newsquawk
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