EUROPEAN FIXED INCOME UPDATE: bonds in freefall as bearish forces intensify
Analysis details (10:52)
Debt futures are floundering and a lack of market depth on Ascension Day is likely to be exacerbating moves, albeit the same could be said if bulls were dominating price action or driving direction. Bunds have breached several downside technical levels on the way to 134.58 from 135.44 at best, but 2.40% in 10 year cash may provide some respite, while Gilts are just off a deeper 99.65 Liffe low vs 110.11 very early peak and the T-note is dangling near the base of its 114-13/24 overnight range ahead of US jobless claims, the Philly Fed, existing home sales and three Fed speakers before BoC’s Macklem and Rogers.
18 May 2023 - 10:52- Fixed IncomeResearch Sheet- Source: Newsquawk
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