EUROPEAN FIXED INCOME UPDATE: debt off lows, but still mostly weak and divergent
Analysis details (10:45)
Not much reaction to a relatively well received German Bobl offering, but bonds had already bounced quite firmly from worst levels on a mixture of short covering and consolidation between potentially pivotal data and/or events. In fact, Bunds retested overnight Eurex peaks after a very minor downside extension to 136.12, while Gilts posted a new Liffe recovery high at 103.83 before fading again in keeping with the T-note between 115-25/14+ parameters awaiting NFIB business optimism, 3 year supply and comments from a couple of Fed neutrals and 2023 voters, Goolsbee and Harker. However, it remains rather one-sided elsewhere as the Dollar continues to drift back down amidst corrective price action in debt following the longer European Easter break vs US.
11 Apr 2023 - 10:45- Fixed IncomeResearch Sheet- Source: Newsquawk
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