EUROPEAN FIXED INCOME UPDATE: dust yet to settle in debt post-Fed

Analysis details (11:10)

Bonds were volatile going in to the FOMC and trading conditions have not really changed or direction become clearer thereafter as specific forward guidance is replaced with a more flexible or old version that relies on data that will be considered at each ensuing policy meeting. In short, the Fed and other global Central Banks will be guided by economic developments now or once at a neutral level of rates, and markets need to be attentive to that instead of telegraphed signals, even if those have been misleading recently. Looking at price action thus far, Bunds are towards the top of a 155.87-154.75 range, Gilts above 117.00 between 117.19-116.70 parameters and the 10 year T-note just over 120-00 vs 120-08+ peak and 119-23+ trough, with curves steeper as the one constant feature ahead of US GDP and IJC updates.  

28 Jul 2022 - 11:10- Research Sheet- Source: Newsquawk

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