EUROPEAN FIXED INCOME UPDATE: bond bulls pause for breath
Analysis details (11:15)
New peaks in debt before a bout of consolidation and probably some reaction to auction results as demand was solid for the DMO’s 2032 tap and reasonable for German’s Schatz sale, but both down from prior outings. Moreover, Bunds, Gilts and US Treasuries may all simply have lost momentum given the magnitude of their advances that are technically constructive as the high constitutes a fresh m-t-d pinnacle for the former, at 153.48, while the 10 year UK bond reached 116.37 and T-note 119-03 that still has Usd 33 bn supply to make room for. Also ahead, more Central Bank rhetoric, with Fed’s Barkin and BoE Governor Bailey both on the pm agenda.
12 Jul 2022 - 11:14- Fixed IncomeResearch Sheet- Source: Newsquawk
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