EUROPEAN FIXED INCOME UPDATE: data helps debt resume recovery trend to some degree
Analysis details (10:48)
It may be too obvious and simplistic to say that the more benign than anticipated German inflation data gave Bunds the incentive to bounce further from worst levels given the fact that other global bonds are rebounding with similar vigour, but the remaining regional releases do imply that the national CPI prints will follow suit and did trip several buy-stops. The 10 year future recently reached 135.55 from a 133.79 Eurex base and got to within 5 ticks of the next upside target on some charts, while Gilts just touched 101.66 vs an early 99.97 Liffe low and the T-note probed 113-00 between 113-02/112-12+ parameters in cashless trade due to the absence of Japanese participation overnight. Also to come, the NA manufacturing PMIs and US construction spending.
03 Jan 2023 - 10:48- Research Sheet- Source: Newsquawk
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