EUROPEAN FIXED INCOME UPDATE: bond bulls rampant after more data disappointment
Analysis details (10:24)
Dire ONS consumption figures may not have been the only factor or even catalyst, but they likely contributed to the latest rally in debt futures and plummet in yields that only stalled approaching key levels. Bunds waned at 131.74 when 10 year cash was close to touching 2.5%, Gilts pulled up just a tick shy of 98.00 and the T-note at 109-08+ with the 20 year yield not far from 4.75% ahead of supply next Monday. However, technical resistance and support may all prove futile if the current bout of consolidation proves to be just a breather before a further extension of the move.
17 Nov 2023 - 10:24- Research Sheet- Source: Newsquawk
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