EUROPEAN FIXED INCOME UPDATE: debt futures fade from fresh highs
Analysis details (10:57)
Bonds remain well bid, but off best levels and perhaps past the peak of their powers of recovery for November given only a day or so before the turn of the month. Indeed, Bunds did not get any extra upside impetus from softer than consensus Spanish and German state inflation data or dovish-leaning rhetoric from ECB’s Stournaras having topped out at 132.72 in early EU trade, while Gilts have drifted down from 97.31 and the T-note from 110-14+ ahead of top tier US data and comments from Fed’s Mester that might not be as dovish as Waller on Tuesday. Note, UK and German auctions were reasonable, but far from snapped up and the inference is that the sales probably required a bigger concession to be digested more avidly.
29 Nov 2023 - 10:57- Fixed IncomeEconomic Commentary- Source: Newsquawk
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