EUROPEAN FIXED INCOME UPDATE: bonds bunkered and braced for PCE

Analysis details (10:45)

Debt futures failed to build on any positives, like a third well received US auction or initial/early bounces, and have extended to the downside instead in continuation of the post-US GDP, IJC and Durable Goods Orders price action. Bunds breached a few more interim chart supports before finding underlying bids ahead of 137.00, at 137.09, Gilts traded down to 104.30 and the 10 year T-note got to within 1/32 of the current 114-14 w-t-d trough from Tuesday. All eyes now on the upcoming PCE release rather than final Michigan sentiment survey findings that should not have much bearing barring major revisions.  

27 Jan 2023 - 10:45- Fixed IncomeData- Source: Newsquawk