EUROPEAN FIXED INCOME UPDATE: debt futures decouple and diverge
Analysis details (10:45)
Bonds are off best levels across the board and Bunds have hardly given a stellar 10 year German auction much recognition or even the time of day for some unknown reason. This may be due to the fact that the corresponding yield is close to a technical support level or just a belated reaction, but the results were resounding by all counts and last Friday’s 130.76 high could yet be a target after the core Eurozone debt future topped out at 130.73. Meanwhile, Gilts have pared back from 95.96 and probably respected the psychological marker and the T-note is still lagging just shy of 108-00 awaiting Fed Chair Powell and the 2nd leg of refunding in the form of Usd 40 bn 10 year issuance.
08 Nov 2023 - 10:45- Research Sheet- Source: Newsquawk
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