EUROPEAN FIXED INCOME UPDATE: debt futures continue to retrace
Analysis details (10:47)
Solid demand for UK and Italian supply, but nothing spectacular as the clock ticks down to this week’s big events and Bunds failed to get much of a boost from a rather grim German Ifo survey, perhaps on the basis that bad news has already been factored in given yesterday’s dire preliminary PMIs. Indeed, the core EZ bond only popped to 133.77 before waning again, Gilts extended their recovery from early Liffe low to 96.78 and ran out of steam, while the T-note is rooted towards the base of its 111-24+/112-01+ overnight range. Ahead, several US housing data points, consumer confidence and Usd 43 bn 5 year issuance.
25 Jul 2023 - 10:47- Fixed IncomeResearch Sheet- Source: Newsquawk
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