EUROPEAN FIXED INCOME UPDATE: debt futures mount impressive recovery

Analysis details (10:52)

Somewhat lacklustre demand for conventional 2025 UK issuance and a 10 year German linker may have taken the edge off Gilts and Bunds, but it looks more like fatigue given the scale of recovery and effort expended to reach 100.62 and 131.78 peaks. Indeed, the former eclipsed Monday’s Liffe high by a tick in the process and the latter got to within 4 ticks of matching yesterday’s Eurex best to set up what could be a remarkable turnaround Tuesday pending the tone of Fed Chair Powell’s upcoming testimony and results of the Usd 40 bn 3 year auction. In the interim, US Treasuries are holding firm and the curve is flatter as the 10 year note hovers towards the top of a 111-12/00 range.

07 Mar 2023 - 10:52- Research Sheet- Source: Newsquawk

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