EUROPEAN FIXED INCOME UPDATE: bonds mixed and tentative pre-FOMC
Analysis details (10:23)
Minor range breaks in debt futures as the countdown to the Fed continues, but no real change in trend as Bunds and Gilts underperform or lag US Treasuries in relatively cautious trading conditions. Supply out of Germany may spark a bit more price action, but the sale of 2031 green bonds is fairly small, so ADP is more likely to be market-moving in advance of the FOMC. In terms of actual levels, the 10 year German benchmark is contained between 138.97-37 confines, its UK equivalent is holding within 103.27-102.41 extremes and T-note around 110-20+ from 110-25+ top to 110-16 bottom.
02 Nov 2022 - 10:22- Research Sheet- Source: Newsquawk
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