EUROPEAN FIXED INCOME UPDATE: bonds off best levels, but still sought after

Analysis details (10:48)

Debt futures have drifted down amidst relative calm elsewhere and especially no further risk-off trade in equities, but not before Bunds extended to 159.70 and the yield through 70 bp towards a Fib retracement. Meanwhile, Gilts remain bid near their 119.70 peak after a solid 2032 DMO auction that saw little in the way of investor reticence despite a significantly lower return on investment and the T-note is closer to 122-02 than 121-17+ awaiting a relatively light US docket before three Fed speakers that will likely keep the spotlight trained on Taiwan to see if Pelosi touches down or takes a detour due to potential backlash from China. 

02 Aug 2022 - 10:48- Research Sheet- Source: Newsquawk

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