EUROPEAN FIXED INCOME UPDATE: debt sheds more month-end premium
Analysis details (11:06)
Bonds often suffer over the turn when duration demand along with other positive factors prompt a rally, and the latest reversal may well be down to re-positioning after de-risking with some added incentive given the fact that NFP falls on the first Friday of June. Bunds are hovering towards the low end of a 135.60-136.17 range, Gilts have faded following a firmer bounce from 96.34 to 96.74 on Liffe post-feeble mortgage lending and approvals, and the T-note is closer to 114-01 from 114-16 ahead of a very busy PM docket including Challenger Layoffs, ADP, IJC, ULC, PMI and ISM releases.
01 Jun 2023 - 11:06- Fixed IncomeData- Source: Newsquawk
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