EUROPEAN FIXED INCOME UPDATE: bonds remain bid, but off best levels
Although the Rouble has rebounded relatively firmly from lows amidst a raft of rather antagonistic rhetoric, the market mood remains gloomy and core debt is clearly outperforming even though gains have been whittled down somewhat. Bunds are still nearly a full point above par between 166.38-165.50 parameters having petered out just 8 ticks shy of Friday’s best, while Gilts are holding up well given a sharp retreat at the front end of the UK curve in wake of another bank upping its forecast for BoE tightening (HSBC adding another 25 bp hike to its outlook through August), albeit just slipping to a marginal new 120.26 Liffe low. Elsewhere, US Treasuries remain nearer overnight highs than lows, 2 year notes aside amidst ongoing flattening after comments from Fed’s George who still on the 25 bp or 50 bp fence for March and does not see need for any inter-meeting moves, unlike Bullard who is due later.
14 Feb 2022 - 11:04- Fixed Income- Source: newsquawk
Subscribe Now to Newsquawk
Click here for a 1 week free trial
Newsquawk provides audio news and commentary for over 15,000professional traders and brokers worldwide. Services include:
- Real-time audio coverage from 0630 to 2200 London time plus Asia-Pac 2200 to 1000 London time
- Teams of analysts covering equities, fixed income, FX, energy, and metals markets
- Real-time scrolling news service with instant analysis
- Daily and weekly pre-market research and calendars
- Video updates covering near-term key risk events & primary trading themes
- One-to-one chat with our expert analysts