EUROPEAN FIXED INCOME UPDATE: bonds at risk of steeper reversal
Analysis details (10:49)
Debt futures often unwind gains over the turn of a month and the loss of duration demand can be more pronounced when that coincides with the end of a quarter, so it’s no real shock that Bunds have retreated to 128.00 from 128.50, Gilts to 93.22 from 93.71 and the T-note is flagging within a 107-21+/29+ range. However, JGBs are bucking the trend after the BoJ added to its normal quota of purchases to preserve YCC with extra flexibility. Ahead, the final US manufacturing PMI and ISM alongside construction spending and all before Fed commentary via Chair Powell, Harker and Williams.
02 Oct 2023 - 10:49- Fixed IncomeData- Source: Newsquawk
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