EUROPEAN FIXED INCOME UPDATE: bonds unable to sustain recovery momentum
Analysis details (10:59)
Debt futures appear to have drawn some lines in the sand after extended declines to retest or set fresh intraday lows, but firmer bounces to new session highs faded some time ago to leave Bunds, Gilts and the T-note underwater within wider 136.06-135.61, 100.82-43 and 115-15/08+ ranges against last Friday’s 136.20, 100.93 and 115-14 respective closes. The 10 year German and UK benchmarks may have lost momentum after failing to fill gaps, while the US counterpart could not build on a slender gain ahead of NY Fed releases, including the manufacturing business index and household debit/credit report that may well take on extra importance given stress in the banking sector. Moreover, a batch of Fed speakers are due either side of BoE’s Pill and they have been singing from the hawkish song sheet of late.
15 May 2023 - 10:59- Fixed IncomeResearch Sheet- Source: Newsquawk
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