EUROPEAN FIXED INCOME UPDATE: debt futures flounder yet again

Analysis details (10:23)

Bond bears are back in the driving seat, but there was sufficient concession for 10 year UK supply to secure a 3 handle on the cover ratio at auction. Nonetheless, the upside in Gilts has been relatively muted as they struggle to claw back losses from a deeper 102.54 Liffe low alongside Bunds that remain sub-135.00 between 135.50-134.70 Eurex parameters. Elsewhere, Bonos and BTPs may have more reason to be downbeat given relatively lacklustre demand for Spanish and Italian issuance, while USTs await the long bond sale after PPI and IJC updates largely unchanged on the day, albeit at the lower end of overnight ranges. 

13 Apr 2023 - 10:23- Fixed IncomeData- Source: Newsquawk