EUROPEAN FIXED INCOME UPDATE: decent rebound in debt futures, albeit varied

Analysis details (10:49)

US Treasuries were first off the block in terms of paring more losses from worst levels to turn marginally positive, and then Gilts followed suit as books closed on a well sought after 2038 syndicated offering, but BTPs also rebounded on the rails to top 113.50 from a 112.45 low.  However, Bunds remain depressed in wake of a somewhat mixed Schatz auction given a bigger retention and hefty concession needed to achieve a 1.2 cover ratio for the new 2 year benchmark. The T-note is holding nearer 109-25+ than 109-14, its UK peer is gathering momentum after reaching 101.04 (+29 ticks vs -83 ticks at one stage) and the core Eurozone bond is around 126.23 within a 136.44-135.76 range. Ahead, US NFIB business optimism, more Central Bank speakers, Usd 40 bn 3 year issuance and the Midterm Election.

08 Nov 2022 - 10:49- Research Sheet- Source: Newsquawk