EUROPEAN FIXED INCOME UPDATE: EU bonds flounder, while USTs flatline

Analysis details (10:50)

Gilts succumbed to a bit more selling pressure after the 2032 DMO auction as a lengthy tail offset other gauges used to assess the success of a debt offering, like demand and the cost of borrowing. The 10 year UK benchmark dipped beneath 104.50 before finding underlying bids, in contrast to BTPs that held above 116.00 in wake of more well received mid-month Italian multi-tranche issuance, while Bunds have staged a firmer recovery rally from their 139.77 Eurex low to reclaim 140.00+ status. However, US Treasuries are still holding up better and treading water ahead of CPI data and 30 year supply, with a firm eye on the FOMC tomorrow.

13 Dec 2022 - 10:49- Fixed IncomeData- Source: Newsquawk