EUROPEAN FIXED INCOME UPDATE: decent debt revival all things considered
Analysis details (10:52)
Notwithstanding the relatively small sizes on offer, demand was strong for long end German issuance and enough to help Bunds complete a full recovery from worst levels and set a minor new Eurex best at 133.85 (+8 ticks on the day vs -65 ticks at one stage). However, the bounce in Gilts has been arguably even more impressive from 94.34 trough to 95.32 peak, and not just in numerical terms, but in the face of bearish UK inflation data. Meanwhile, US Treasuries have also regained composure with the T-note towards the top of its 113-12/112-31+ overnight range and just shy of parity ahead of Fed Chair Powell and amidst another twist in the roller-coaster ride for bonds that were weak at the start of week before a sharp corrective rebound on Tuesday.
21 Jun 2023 - 10:52- Fixed IncomeResearch Sheet- Source: Newsquawk
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