EUROPEAN FIXED INCOME UPDATE: bonds back-off after early EU upside foray
Analysis details (10:50)
There were elements of Germany’s April Ifo survey that were encouraging, but Bunds had already faded from best levels between 134.21-133.68 parameters and retreated to a fresh intraday low as Gilts reversed even more sharply through parity within a 101.24-100.70 range ahead of UK public finance data on Tuesday. However, US Treasuries are holding a mildly firmer and flatter line with the T-note holding towards the top of its 114-24+/14+ range irrespective of default threat and perhaps sharing House Speaker McCarthy’s confidence that he has sufficient support to pass his debt limit proposal this week. More immediately, the National Activity and Dallas Fed Manufacturing Business indices are scheduled ahead.
24 Apr 2023 - 10:50- Fixed IncomeResearch Sheet- Source: Newsquawk
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