EUROPEAN FIXED INCOME UPDATE: debt futures floundering again

Analysis details (11:28)

The roller-coaster rumbles on and shows little sign of ending, as bonds back off further from recent/latest retracement peaks within relatively wide ranges that have become the norm if not quite a daily routine. The Fed and almost all other global Central Banks continue to guide or shift hawkishly in pursuit of inflation, risk sentiment is still recovering and technicals may also have turned somewhat following extensions of the rebound in debt from cycle lows. On that note and for context, Bunds reached 152.92 at best on Wednesday compared to a 140.67 trough on June 16 and have ‘settled’ into a 151.65-150.15 band, thus far, with Gilts hovering above 115.00 between 115.60-114.66 bounds and the T-note sub-par within 118-15/119-05 extremes. Ahead, ECB minutes, US jobless claims, NA trade, refunding details and Fed rhetoric.

07 Jul 2022 - 11:28- Fixed IncomeResearch Sheet- Source: Newsquawk