EUROPEAN FIXED INCOME UPDATE: debt divergent amidst data, surveys and supply
Analysis details (10:38)
Choppy trade in bonds and some decoupling in wake of weaker than feared UK retail sales, mixed prelim PMIs and Italian issuance, as Bunds settle just below par within a 134.41-133.65 range, Gilts outperform between 101.19-100.71 parameters and BTPs lag having faded just above 114.04 and retreating to a 113.25 intraday low. However, US Treasuries are holding flat to marginally firmer (T-note sitting tight inside 114-26+/18 bounds) ahead of the flash US PMIs that may ultimately determine whether debt futures resume or continue their bear market correction into the weekend rather than reversing course all over again.
21 Apr 2023 - 10:38- Fixed IncomeData- Source: Newsquawk
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