EUROPEAN FIXED INCOME UPDATE: bonds slip or slide to new intraday lows
Analysis details (11:16)
Although the remaining German states confer with the y/y slowdown in NRW, Bunds have retreated further from best levels after a period of zig-zag price action to duck just under par, at 145.14 (-4 ticks vs +219 ticks at one stage), regardless of extended downside in EU equities, and it’s probably a stretch to attribute the blame on super-strong Spanish inflation data again. However, there has been more hawkish-sounding rhetoric from the ECB in the interim and a more pronounced reversal in Gilts to 111.85 from 112.66 (-30 ticks on the day compared to +51 ticks) could be a contributing factor, as US Treasuries decline in sympathy ahead of final US Q1 GDP and what could be the pm/midweek highlight from Sintra - Lagarde, Powell and Bailey - all due to share the stage at 13.30BST.
29 Jun 2022 - 11:16- Fixed IncomeData- Source: Newsquawk
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