EUROPEAN FIXED INCOME UPDATE: bonds bounds as risk tone sours

Analysis details (10:27)

Curve positioning helped debt futures claw back initial Fed-induced losses, but the recent upturn came via a more asset-related move as stocks responded negatively to latest news from Russia and Ukraine. In short, both sides have refuted reports circling yesterday about progress towards a pact that might preface a period of peace beyond the humanitarian corridors that are already operating under ceasefire conditions, in general, but not completely by any means. Bunds are firmly back above parity, though not quite at the earlier Eurex high, while Gilts and the 10 year T-note just set new intraday highs at 121.83 and 124-28+ respectively (+70 ticks and +21/32 on the day compared to +5 ticks and -3/32+ at the opposite end of the spectrum). Ahead, BoE at high noon, US IJ and IP plus more ECB commentary.  

17 Mar 2022 - 10:26- Fixed IncomeResearch Sheet- Source: Newsquawk