EUROPEAN FIXED INCOME UPDATE: bonds bounce firmly/correctively, but not uniformly

Analysis details (10:52)

There has been very little change in the narrative, but the latest rebound in EU debt futures extended to fresh intraday peaks, at 132.96 for Bunds and 95.36 in Gilts compared to earlier lows on Eurex and Liffe of 132.18 and 94.41 respectively. The core 10 year benchmarks may have gleaned some technical traction or simply benefited from a round of pre-weekend position squaring that would comprise short covering for the most part given the recent rout whether bear-flattening or steepening amidst the mainly hawkish Central Bank vibes, with the increasingly obvious exception of the BoJ. However, US Treasuries remain somewhat top heavy as the T-note hovers below par within a 113-16+/05 range ahead of prelim UoM sentiment and Fed speakers. 

16 Jun 2023 - 10:52- Research Sheet- Source: Newsquawk