EUROPEAN FIXED INCOME UPDATE: EGBs enthused by hot Bobl reception
Analysis details (10:57)
Debt futures have seen more erratic and whippy price action, but German bonds are on the up again in response to a stellar 5 year tap auction that saw demand exceed supply just over 2 times and the retention decline from the prior sale for only 1 extra basis point concession. Bobls are just shy of their 118.31 high and Bunds near the 135.83 apex, in contrast to Gilts that are still suffering in leave of absence yesterday, albeit midway between 100.85 Liffe high and 100.43 low. Meanwhile, US Treasuries are holding firm in recovery mode ahead of further Fed commentary and perhaps more pertinently the first note issuance post-FOMC and the latest efforts to resolve the debt ceiling impasse.
09 May 2023 - 10:56- Research Sheet- Source: Newsquawk
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