EUROPEAN FIXED INCOME UPDATE: bonds beat an even hastier retreat
Analysis details (10:47)
It’s turning into a real turnaround Tuesday for debt that kicked off the new week in recovery mode, and the last straw was an abject debut for the new 7 year German Bund that basically flopped. In response, the core Eurozone bond has been down to 135.93 from 137.53 at best, while Gilts tumbled to 95.84 from 98.29 in wake of a tepid long-dated DMO sale that was hardly helped by the timing of a BoE statement questioning the accuracy of the FT’s QT delay story. Elsewhere, the 10 year T-note is falling in sympathy within a 110-17/111-04 overnight range vs Monday’s 110-22+ close and perhaps the writing was already on the wall when early upside impetus waned.
18 Oct 2022 - 10:47- Research Sheet- Source: Newsquawk
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