EUROPEAN FIXED INCOME UPDATE: debt futures fade and reverse post-Fed gains
Analysis details (10:47)
Curves remain steeper after the dovish FOMC, but bullish momentum in bonds waned fairly quickly before a sharp reversal, irrespective of Italy’s well received end of month multi-tranche auction. In fact, Bunds reversed further from 133.55 to 132.84 and effectively filled another gap between 132.80-85 in terms of recent adjacent lows, while Gilts retreated from 96.81 to 96.06 and the T-note is back below 112-00 within a 112-07-111-26+ range. Attention has clearly shifted to the ECB, but also an array of primary US data and the delayed 7 year leg of this week’s note issuance.
27 Jul 2023 - 10:47- Fixed IncomeResearch Sheet- Source: Newsquawk
Subscribe Now to Newsquawk
Click here for a 1 week free trial
Newsquawk provides audio news and commentary for over 15,000professional traders and brokers worldwide. Services include:
- Real-time audio coverage from 0630 to 2200 London time plus Asia-Pac 2200 to 1000 London time
- Teams of analysts covering equities, fixed income, FX, energy, and metals markets
- Real-time scrolling news service with instant analysis
- Daily and weekly pre-market research and calendars
- Video updates covering near-term key risk events & primary trading themes
- One-to-one chat with our expert analysts