EUROPEAN FIXED INCOME UPDATE: bonds retreat broadly, albeit not uniformly
Analysis details (11:02)
Not quite deja vu, but the continuation of a theme and recurring or familiar pattern, as Bunds and their Eurozone debt peers retreat from early peaks and drag Gilts and US Treasuries back down with them. The 10 year German benchmark is now nearer its 139.53 base than 140.73 top alongside Bonos and BTPs irrespective of relatively well covered Spanish and Italian issuance, acknowledging further push backs against the idea that the ECB might step off the gas again after another 50 bp hike next month. Meanwhile, Gilts are holding just above 105.00 within a 105.68-104.90 range and the T-note just shy of 116-00 between 116-08/115-26+ bounds, as attention turns to a busy pm docket of data and more global Central Bank speak (from and beyond Davos).
19 Jan 2023 - 11:02- Fixed IncomeResearch Sheet- Source: Newsquawk
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