EUROPEAN FIXED INCOME UPDATE: chinks of light for debt as weekend approaches

Analysis details (10:46)

Bonds have overcome several wobbles to maintain gains and hold near new intraday highs, partly in consolidation and with some fundamental foundation in the case of EGBs as Eurozone PPI came in well below to counter ongoing elevated inflation in the services sector highlighted by the latest PMIs. Bunds rebounded from 131.43 to 132.15, but failed to bounce further beyond yesterday’s session high towards another resistance level (Fib at 132.25), as the corresponding yield ran into underlying buying interest just below 2.70%, Gilts peered over 100.00, at 100.06 vs their 99.56 Liffe low before fading and the T-note got to within 2/32 of 111-00 within a range down to 110-15+ ahead of a busy pm docket including Canadian data, final US services and composite PMIs, the non-manufacturing ISM and a host of Central Bank speakers. 

03 Mar 2023 - 10:46- Fixed IncomeData- Source: Newsquawk