EUROPEAN FIXED INCOME UPDATE: bonds regroup as downside pressure abates
Analysis details (10:21)
No obvious rhyme or reason, but after extending to the downside and absorbing more offers, debt futures have regained poise to varying degrees. Gilts and the T-note have probed parity within 96.87-97.28 and 108-16/25 respective ranges after closing at 97.19 and 108-24 last Friday, while Bunds recently got to within four ticks of flat at 131.00 compared to their 103.70 intraday low. However, BTPs have regained 114.00+ status between 113.90-114.50 parameters and continue to outperform alongside PGBs on positive Italian and Portuguese ratings developments. Ahead, Central Bank rhetoric will likely make up for a lack of data, US leading indicator aside, and fill the void until the Usd 16 bn 20 year auction.
20 Nov 2023 - 10:21- Research Sheet- Source: Newsquawk
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