EUROPEAN FIXED INCOME UPDATE: dire PMIs prompt strong debt revival
Analysis details (10:57)
Bonds looked poised to claw back more losses on pre-weekend short covering grounds before getting an even bigger boost from largely weaker than forecast and worrying PMIs in the face of further Central Bank policy tightening to combat inflation. Bunds breezed through Fib resistance and then made light work of clearing 134.00 on the way to 134.35 at best compared to a 132.73 Eurex low, Gilts came chasing after and touched 97.00 having been down at 95.32 earlier on Liffe and the T-note rebounded to 113-07 from 112-22 before all the buying dried up. Ahead, a busy PM agenda comprises the US PMIs, more Fed and ECB speakers plus Canadian budget balances.
23 Jun 2023 - 10:57- Research Sheet- Source: Newsquawk
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