EUROPEAN FIXED INCOME UPDATE: cash buyers compound rebound in debt futures

Analysis details (10:52)

Germany’s 2046 offering was not exactly snapped up and typically hawkish remarks from ECB’s Kazaks have thwarted an attempt by Bunds to close another gap, but the latest bounce in bonds has certainly been more pronounced. Indeed, Gilts remain elevated near a new 118.49 Liffe intraday high after the DMO received almost three times as many bids for its 2039 tap and US Treasuries are still hugging overnight peaks amidst a modestly flatter curve profile ahead of US existing home sales, the 20 year auction and fuerther Fed commentary from Daly and Evans. Back to the Eurozone, 154.64 is the best so far and a breach of yesterday’s 154.70 pinnacle would really be impressive in the circumstances or context of staging a more meaningful correction and sustainable recovery.

20 Apr 2022 - 10:52- Fixed IncomeResearch Sheet- Source: Newsquawk