EUROPEAN FIXED INCOME UPDATE: bonds back on an even keel as stocks reel
Analysis details (10:20)
Having moved in lock-step for some while, debt and equities decoupled during the first half of Thursday’s EU session in what looked like a return to old fashioned asset-switch price action. However, shorts may have simply been squeezed ahead of tier one US data and the ECB amidst some speculation that the latter could tweak its PEPP reinvestment timetable as a counterweight to pausing on rates, while Treasuries could be wary of the the 10 year yield rebounding towards 5% again. Whatever the rationale, Bunds, Gilts and the T-note all bounced firmly between 127.56-128.15, 91.62-92.29 and 105-15+/24+ respective parameters to fill gaps and trade marginally back above parity.
26 Oct 2023 - 10:20- Research Sheet- Source: Newsquawk
Subscribe Now to Newsquawk
Click here for a 1 week free trial
Newsquawk provides audio news and commentary for over 15,000professional traders and brokers worldwide. Services include:
- Real-time audio coverage from 0630 to 2200 London time plus Asia-Pac 2200 to 1000 London time
- Teams of analysts covering equities, fixed income, FX, energy, and metals markets
- Real-time scrolling news service with instant analysis
- Daily and weekly pre-market research and calendars
- Video updates covering near-term key risk events & primary trading themes
- One-to-one chat with our expert analysts