EUROPEAN FIXED INCOME UPDATE: debt still data, stock and supply laden
Analysis details (11:08)
Bonds are off worst levels, but remain weak amidst a reversion to bear-steepening on broad risk and fundamental factors. Gilts got scant relief from a decent long-dated DMO auction and their German counterpart received no indirect respite from what must be deemed a dismal launch of the new 2 year benchmark. However, Bunds appear to have found some technical support around the deeper 152.88 Eurex low as some charts flag 152.86 as the next downside level, the 10 year UK bond is 30 ticks or so off its 119.25 Liffe base and the T-note is hovering 3/32 above the 119-08+ overnight base in advance of US retail sales and a string of global Central Bank officials scheduled to speak.
17 May 2022 - 11:07- Fixed IncomeResearch Sheet- Source: newsquawk
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