EUROPEAN FIXED INCOME UPDATE: cash buyers give futures a backstop
Analysis details (11:13)
Bunds may well have bounced anyway after testing, but not completely breaching 149.00 to expose Tuesday’s Eurex trough and Gilts likewise following extended losses on Liffe to 114.53 due to semi-psychological reasons. However, the ensuing recovery towards 149.30 and 114.90 came after well received 2032 German and UK supply to imply some unwinding of auction hedges alongside appreciation of the decent sale results. Conversely, US Treasuries remain rooted near the base of overnight ranges and the curve steeper as 10 year issuance awaits in wake of a tepid 3 year offering.
08 Jun 2022 - 11:13- Fixed IncomeResearch Sheet- Source: Newsquawk
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