EUROPEAN FIXED INCOME UPDATE: debt futures recoil as crude prices simmer
Analysis details (10:47)
Bonds may well have lost their recovery momentum and month end duration bid without the spike in oil in response to OPEC+ cutting production, but that latter has fuelled more downside pressure even though WTI and Brent have both eased back from overnight highs. However, Bunds have pared some declines between 135.15-98 parameters vs last Friday’s 135.84 Eurex close, Gilts found underlying buyers a tick beneath 102.99 within a range extending to 103.59 compared to 103.35 at settlement ahead of the weekend and the T-note is holding just off its 114-18 trough against 114-31 peak having ended its prior session at 114-29+. Ahead, comments from Fed’s Bullard and Cook bookend US construction spending data and the manufacturing PMI.
03 Apr 2023 - 10:47- Research Sheet- Source: Newsquawk
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