EUROPEAN FIXED INCOME UPDATE: debt futures unable to evade turning tide
Analysis details (11:11)
Bonds have suffered further bouts of selling pressure and long liquidation to the extent that Bunds and their Eurozone peers erased all and more of the upside derived from the ECB’s ‘dovish’ hike. In fact, the sharp fall from grace looks set to continue as equities advance into quadwitching and the weekend, while oil continues to simmer and various source reports allude to hawkish vibes (ECB and BoJ earlier on Friday). Bunds have been down to 130.43, Gilts 95.39 and the T-note 109-15+ with added pressure from upbeat Chinese data overnight on top of a bigger than forecast TLTRO3 early repayment. Ahead, several US macro releases including NY Fed manufacturing, ip and UoM sentiment with fresh inflation expectations ahead of next week’s FOMC.
15 Sep 2023 - 11:11- Fixed IncomeResearch Sheet- Source: Newsquawk
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