EUROPEAN FIXED INCOME UPDATE: debt slide continues almost relentlessly
Analysis details (10:56)
Bears remain in control of proceedings as alluded to earlier, and momentum is building with little sign of underlying buyers turning the tide as more technical and psychological support levels are breached. Bunds have now been down to 128.87 from a peak at 129.56 that matched their previous Eurex close, but perhaps crucially did not lead to any follow through, while Gilts are now probing 95.50 to the downside after failing to retain 96.00+ status very early on Liffe and the T-note is rooted to the base of its 108-11/25+ range. Naturally, yields are extending to fresh peaks, and there may be some respite for bonds if the 10 year German benchmark holds around 2.80% and its US equivalent is capped circa 4.50%.
25 Sep 2023 - 10:56- Fixed IncomeResearch Sheet- Source: Newsquawk
Subscribe Now to Newsquawk
Click here for a 1 week free trial
Newsquawk provides audio news and commentary for over 15,000professional traders and brokers worldwide. Services include:
- Real-time audio coverage from 0630 to 2200 London time plus Asia-Pac 2200 to 1000 London time
- Teams of analysts covering equities, fixed income, FX, energy, and metals markets
- Real-time scrolling news service with instant analysis
- Daily and weekly pre-market research and calendars
- Video updates covering near-term key risk events & primary trading themes
- One-to-one chat with our expert analysts