EUROPEAN FIXED INCOME UPDATE: debt futures find their feet, albeit at lower levels

Analysis details (10:23)

It remains to be seen how sustainable the latest bounce in bonds is, but Bunds gleaned some traction just one tick under 134.00 as the corresponding 10 year cash rate peered over 2.45% before fading and Gilts rebounded even more firmly from 101.90 to post a new Liffe peak at 102.37 (+16 ticks on the day), led by the Sonia strip that was already outerforming. Meanwhile, BTPs pared declines on the back of an unexpected downward tweak to final Italian CPI and HICP readings and Treasuries are straddling parity, albeit closer to overnight lows in the run up to NY Fed and NAHB housing market surveys plus comments from House Speaker McCarthy at the NYSE on the debt limit and Fed’s Barkin at the Richmond Association for Business Economics. Note also, BoE’s Cunliffe and ECB President Lagarde are scheduled in the pm session. 

17 Apr 2023 - 10:23- Fixed IncomeEconomic Commentary- Source: Newsquawk