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- Fixed IncomeResearch Sheet- Source: Newsquawk
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