EUROPEAN FIXED INCOME UPDATE: different day, but same old sad fate for debt

Analysis details (10:58)

In theory, Bunds should derive some encouragement from a well received 10 year German auction, albeit the near twice-oversubscribed sale coming after a (nother) hefty concession that nudged the average yield over the eye-catching 2.5% mark. Moreover, the core Eurozone bond may have to detach from Gilts first as the UK benchmark strives to regain a foothold above 100.00 from a 99.85 low in wake of the earlier sticky inflation data and pending short end DMO supply that might be less attractive amidst rising BoE rate expectations. On that note, Treasuries remain pressured in the run up to Usd 12 bn 20 year issuance that will likely assume greater significance in absence of much else on the US agenda, bar weekly mortgage applications. T-note currently penned near the base of a 114-01+/14+ range.

19 Apr 2023 - 10:58- Fixed IncomeResearch Sheet- Source: Newsquawk