EUROPEAN FIXED INCOME UPDATE: bonds regroup after data-related retreat
Analysis details (10:55)
Debt futures have extended their recovery from post-US CPI lows in what could be described as a risk revival given a marked downturn in equities. Indeed, Bunds have reclaimed more than half of yesterday’s heavy losses to suggest more than a technical correction, while Gilts have overcome a few wobbles to track their Eurozone counterpart and the T-note is nudging new peaks amidst a return to bull-flattening regardless of a poor long bond auction to continue the run of weak sales this week. Highs reached so far are 129.77, 94.67 and 107-24 respectively, with momentum building irrespective of a squeeze in oil that may be deemed preemptive in fear of heightened Middle East hostilities over the weekend.
13 Oct 2023 - 10:55- Research Sheet- Source: Newsquawk
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