EUROPEAN FIXED INCOME UPDATE: debt futures divergent due to specific factors
Analysis details (11:03)
Bonds remain mixed and Gilts are still holding above parity irrespective of a mixed 2053 DMO auction as UK wage data, BoE dove Dhingra and an updated PSBR projection from the IFS (on course to be circa Gbp 20 bn under forecast in fy 2023/24) all offer support. The 10 year benchmark extended its recovery and intraday high to 93.91 before waning, while Bunds lag having been down to 128.71 and the short end of the German curve has not shown much relief on the back of a solid Schatz sale. Elsewhere, the T-note is grounded within a 106-29/107-08 range in advance of US retail sales, ip, business inventories and the NAHB on top of another raft of Fed speakers.
17 Oct 2023 - 11:03- Research Sheet- Source: Newsquawk
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