EUROPEAN FIXED INCOME UPDATE: bonds still recuperating

Analysis details (10:45)

Debt futures are off best levels and cash yields have edged off their lows, but the latest and more convincing bear correction continues against the backdrop of weakness in equities and commodities, including crude that has been soaring on supply factors rather than risk dynamics of late. Bunds look especially buoyant again after reversing through 170.00 to 169.92 and a new intraday Eurex low (+18 ticks vs +65 ticks at the high), with Gilts just shy of 123.00 within their 122.88-123.17 range (+22/+51 ticks on the day at either end of the spectrum) and the 10 year T-note holding fim, albeit towards the lower end of overnight extremes (127-28/128-10). Ahead, Canada dominates the NA data slate via retail sales and new house prices, while ECB President Lagarde and BoE’s Mann fill the end of week speakers’ schedule in the ongoing absence of Fed officials.

21 Jan 2022 - 10:45- Fixed IncomeData- Source: newsquawk