EUROPEAN FIXED INCOME UPDATE: bonds breach multi-big figures in FTQ fashion

Analysis details (09:54)

Resistance certainly proved futile in technical terms as debt futures soared in increasingly stop and panic driven price action akin to a classic safe haven scramble that propelled Bunds up to 137.02, Gilts to 104.95 and the t-note to 114-29+ before buyers stepped off the gas. The catalyst was simply ongoing fears of contagion following the demise of SVB and Signature Bank, and the only question that arose was how bad could conditions have been without Fed and FDIC intervention, plus HSBC riding the rescue of SVIB’s UK arm. Looking at benchmark yields for further context, 10 year cash crashed to 2.25%, 3.42% and 3.54% in Germany, the UK and US respectively. 

13 Mar 2023 - 09:54- Research Sheet- Source: Newsquawk