EUROPEAN FIXED INCOME UPDATE: debt decimated as market tone turns bullish

Analysis details (10:41)

Bonds have tumbled to new cycle lows irrespective of a marked reversal in oil prices that should ease some inflation and stagflation concerns, with sellers taking cues from the overall risk climate instead as relative calm persists in Ukraine pending high level negotiations and latest noises from Russia appear relatively encouraging in context of reaching a compromise between the two countries at conflict. Indeed, the Russian Foreign Ministry is now contending that it never has or is intent on threatening NATO after stating that it’s special operation is not aiming to overthrow the Ukranian Government, while it sees some progress in talks held so far. Back to debt futures, Bunds just hit 163.73, Gilts 122.46 and the 10 year T-note 126-25, with benchmark yields up around 19 bp, 1.50% and 1.90% respectively, and still to come Usd 34 bn 10 year supply.

09 Mar 2022 - 10:40- Fixed IncomeResearch Sheet- Source: Newswires