EUROPEAN FIXED INCOME UPDATE: bond rout continues relentlessly
Analysis details (10:54)
Debt futures continue to plunge amidst fleeting bouts of consolidation and lame rebounds of the dead cat variety, and the latest catalyst came via Sweden where the Riksbank decided to play catch-up with runaway inflation with a 100 bp hike. This may or may not set the tone for others to follow, but is the latest in the almost united global Central Bank and wider battle get get spiralling price pressures under control, or the genie back in the bottle to be more precise. Looking at price moves precisely, Bunds have been down to 141.08 for a whopping 154 tick loss on the day, Gilts to 104.33, 91 ticks below par and the 10 year T-note to 114-01+, with corresponding yields soaring towards 3.55%, over 1.9% and approaching 3.25% in the US, Germany and UK respectively.
20 Sep 2022 - 10:54- Research Sheet- Source: Newsquawk
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