EUROPEAN FIXED INCOME UPDATE: bonds in better shape than they have been of late
Analysis details (10:42)
Debt futures have faded from best levels, but price action has been more encouraging on balance so far as Bunds, Gilts and the T-note all hold ‘comfortably’ above par within 134.12-68, 99.45-98 and 113-20/30 respective ranges. Meanwhile, Eurozone periphery bonds are perky on a combination of factors such as Moody’s outlook upgrade for Portugal and political stability in Greece after ND won the first election round by some distance, albeit not a clear enough majority. Back to the core, and the 10 year German benchmark may have encountered resistance around the 2.40% yield level equivalent, while its UK and US counterparts could have run into psychological offers protecting 99.00 and 114-00 ahead of more Central Bank speakers flanking preliminary EZ consumer sentiment.
22 May 2023 - 10:42- Fixed IncomeResearch Sheet- Source: Newsquawk
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