EUROPEAN FIXED INCOME UPDATE: cash buyers compound debt rebound
Analysis details (10:53)
Bonds were already off worst levels against the backdrop of souring risk sentiment, but got a further fillip when Eurozone PMIs missed consensus or were tweaked down from preliminary levels and the pan composite print dipped below 50.0. However, the latest or last leg higher on the recovery ladder was supply-related as a strong 10 year German green offering came hot on the heels of a very well received 2025 DMO issue in the UK. Bunds extended to 133.68 from a 132.94 Eurex low before petering out, Gilts probed the prior Liffe session high at 95.40 to reach 95.48 having been down at 94.72 earlier and eased off the gas, while the T-note topped out at 112-04 from 111-25+ bottom ahead of the return of cash trade in time for data, FOMC minutes and Fed’s Williams.
05 Jul 2023 - 10:53- Fixed IncomeResearch Sheet- Source: Newsquawk
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