EUROPEAN FIXED INCOME UPDATE: debt revival only a day after abrupt reversal
Analysis details (11:07)
It’s hard to determine what has actually changed since yesterday, but suffice to say that bonds are back on a roll and were recovering even before the latest downturn in risk sentiment, so it might be more apt to try and ascertain the reason why they gave up so much more ground on Monday, beyond the loss of US cash traders that depressed volumes overall. Bunds are now above 150.00, albeit running out of puff just ahead of 150.50 at 150.44 (+133 ticks on the day vs -39 ticks at one stage), Gilts have been higher than 115.50 to 115.57 (+86 ticks vs -11 ticks at the Liffe low) and the 10 year T-note is nearer to 119-20+ than 118-23 ahead of US factory orders.
05 Jul 2022 - 11:07- Fixed IncomeResearch Sheet- Source: Newsquawk
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