EUROPEAN FIXED INCOME UPDATE: EGBs absorb supply amidst short squeeze

Analysis details (10:50)

Bunds are off recovery highs, but remain firm within 145.75-144.74 parameters for the Dec contract that is now the front month for tech and fundamental analysis on the basis of turnover vs Sep, in line with the Eurozone periphery and strong investor demand for syndicated issuance. Conversely, Gilts have pulled back below parity after rebounding in sympathy to 106.79, at best (flat on the day vs -72 ticks at one stage) and the 10 year T-note remains depressed towards the bottom of a 116-00/27+ range awaiting the return of US cash markets from the long Labor Day weekend ahead of final services and composite PMIs plus ISM equivalents.  

06 Sep 2022 - 10:50- Research Sheet- Source: Newsquawk

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