EUROPEAN FIXED INCOME UPDATE: debt still firm, but well off best levels

Analysis details (10:16)

Some erosion of demand for bonds and a loss of momentum after Bunds pierced 162.00 for a 115 tick turnaround from overnight Eurex low, Gilts fell just 7 ticks shy of 122.00 vs a 121.41 Liffe low and the 10 year T-note topped out at 125-08+ compared to 124-18 at worst, but the omens look better than they have done for six straight days and debt futures may yet be able to halt a losing streak if not end their bear run altogether. Meanwhile, UK linkers were well received for obvious reasons, but Germany’s Schatz auction could be a different proposition given the latest hawkish ECB pivot and notwithstanding a pretty bleak ZEW survey on balance. Ahead, US PPI, NY Fed manufacturing and ECB President Lagarde.

15 Mar 2022 - 10:15- Fixed IncomeResearch Sheet- Source: newsquawk