EUROPEAN FIXED INCOME UPDATE: bonds absorb supply and bound even higher

Analysis details (10:56)

Hardly a flinch to digest details of the latest UK and German auctions even though demand declined from prior sales of the 2061 DMO maturity and 2033 linker, but debt futures did pause for breath in advance having approached or even probed loftier levels. Gilts stopped just a single tick shy of 100.00 before breaking the century mark convincingly and getting close to the big figure above, at 100.92 (+237 ticks on the day) and Bunds stalled through Fib resistance and the semi-psychological 142.50 level, but have now been up to 142.87 (169 ticks above parity). Meanwhile, the T-note is hovering near the top of its 113-30/113-07 overnight range ahead of a raft of Fed speakers, US factory orders and JOLTS that may or may not derail the already marked debt recovery.

04 Oct 2022 - 10:56- Fixed IncomeData- Source: Newsquawk