EUROPEAN FIXED INCOME UPDATE: debt futures flounder after Friday’s revival
Analysis details (10:26)
It’s becoming a recurring theme for bonds on return from a weekend without a significant deterioration in the Middle East situation, albeit the bear trend was already well underway and is back in almost full swing. Bunds are towards the base of a 127.33-83 range and Gilts have probed 91.00 between 90.99-91.50 parameters, while the T-note is also rooted within a 105-14-28 band and the corresponding yield has topped 5% as the curve continues to steepen. Meanwhile, BTPs are holding up a bit better between 108.18-77 parameters on technical grounds and relief that S&P maintained Italy's rating with a stable outlook irrespective of an expansive 2024 budget.
23 Oct 2023 - 10:26- Research Sheet- Source: Newsquawk
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