EUROPEAN FIXED INCOME UPDATE: EU bonds remain sub-par, but USTs afloat
Analysis details (10:47)
Little net reaction to latest German and UK debt auctions even though results were not that great given the deeper levels of concession, albeit nowhere near as bad as last night’s 3 year T-note sale that was adversely impacted by the hawkish part of Fed Chair Powell’s address in Washington. Nevertheless, Bunds and Gilts are still under pressure on EZ specifics and contagion respectively having hit new lows earlier in the am session, at 135.62 and 104.53, while US Treasuries have regained some poise awaiting the second leg of this week’s refunding (Usd 35 bn 10 year issuance) and more Fed speakers.
08 Feb 2023 - 10:47- Research Sheet- Source: Newsquawk
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