EUROPEAN FIXED INCOME UPDATE: bond bounce backed by cash/block buyers

Analysis details (10:54)

Debt futures are hovering just below best levels having extended rebounds to fresh intraday highs in the run up to UK and German auctions that saw solid demand, albeit at considerably higher yields given recent concessions. Hence, some consolidation and perhaps an element of pre-sale hedges being unwound as Bunds sit under their 145.24 peak (+44 ticks vs -33 ticks at one stage), Gilts skirt 106.00 from 106.11 (+38 ticks vs -59 ticks at the Liffe low) and the 10 year T-note holds closer to 115-27 than 115-13+ following some hefty block purchases (two 10k clips in particular). Ahead, US housing and trade data before Fed rhetoric from Mester, Brainard and Barr.  

07 Sep 2022 - 10:54- Research Sheet- Source: Newsquawk

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