EUROPEAN FIXED INCOME UPDATE: bonds firmly bid on dips
Analysis details (10:53)
Some signs of indigestion via the 6 year German auction in terms of slightly lower demand and a higher retention rate, but the rebound in debt futures after Italy threw a spanner in the Eurozone disinflation works indicates relative strength and underlying demand for bonds into month end. Indeed, Bunds have reclaimed 136.00+ status within a 136.39-135.31 range, Gilts are closer to 96.95 peak than 96.37 trough and the T-note is also hovering near the top of its 114-14+/00 overnight parameters awaiting the remainder of a busy midweek agenda compromising more Central Bank speakers, data and the latest Fed Beige Book.
31 May 2023 - 10:53- Research Sheet- Source: Newsquawk
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