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- Fixed IncomeResearch Sheet- Source: Newsquawk
Subscribe Now to Newsquawk
Click here for a 1 week free trial
Newsquawk provides audio news and commentary for over 15,000professional traders and brokers worldwide. Services include:
- Real-time audio coverage from 0630 to 2200 London time plus Asia-Pac 2200 to 1000 London time
- Teams of analysts covering equities, fixed income, FX, energy, and metals markets
- Real-time scrolling news service with instant analysis
- Daily and weekly pre-market research and calendars
- Video updates covering near-term key risk events & primary trading themes
- One-to-one chat with our expert analysts