EUROPEAN FIXED INCOME UPDATE: bonds pare gains after breaking even higher
Analysis details (11:03)
What goes up must eventually come back down may be an apt way to describe latest price action in debt futures given no other obvious reason for the pull back, but in truth there was no fresh driver for the leg up to 130.20 and 95.66 in Bunds and Gilts respectively. Nevertheless, some consolidation and long liquidation or profit taking is understandable as attention turns to US CPI in earnest and given the scale of the upside seen in such a short passage of time (the former was down at 126.62 on October 4 and latter 91.50). Indeed, the T-note has also eased off best levels within a tight 108-09/00+ band awaiting the inflation data, jobless claims updates and yet more Fed speakers.
12 Oct 2023 - 11:03- Research Sheet- Source: Newsquawk
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