EUROPEAN FIXED INCOME UPDATE: bonds bounce further, but UK debt vice-versa
Analysis details (11:14)
No real shock to see BTPs breathe a sigh of relief after well received end of month auctions, while Bunds tagged along following the earlier boost via below forecast Eurozone data in the form of Spanish CPI and M3. However, Gilts have bucked the trend and recently reversed quite sharply through 95.00 between 95.86-94.85 parameters to leave their rivals in the ascendency within 114.78-06 and 134.83-15 respective ranges and perhaps paring corrective gains on hawkish BoE grounds following another upturn in BRC prices. Elsewhere, the T-note remains solid near the top of 113-00+/112-03+ bounds awaiting the return of US participants from the long Memorial Day weekend.
30 May 2023 - 11:14- Research Sheet- Source: Newsquawk
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