EUROPEAN FIXED INCOME UPDATE: bonds reverse course, but not uniformly
Analysis details (10:58)
EGBs were undermined by the early German state CPI release from NRW and never really recovered even though the remaining data was mixed in line with Spanish headline and harmonised inflation metrics. Bunds remain closer to 131.92 Eurex low than 132.56 high and the T-note has also handed back a chunk of its post-JOLTS and US consumer confidence recovery gains between 110-28/18+ parameters to leave only Gilts treading water within a 94.91-39 range in somewhat choppy, corrective and consolidative trade awaiting clearer direction, or the next big market-mover that could come via today’s US agenda given ADP, prelim Q2 GDP and PCE. However, Thursday is the final day of the month and comprises the more timely monthly PCE update and the week culminates with NFP and ISM.
30 Aug 2023 - 10:58- Fixed IncomeData- Source: Newsquawk
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