EUROPEAN FIXED INCOME UPDATE: German supply snapped up after concession

The retention was a bit higher, but Bunds are extending their recovery from fresh cycle lows in recognition of a relatively rare twice oversubscribed auction that enticed buyers via a multi-year high average yield. In fact, demand may have arguably been even higher without a retreat in yields before the auction on the back of a downturn in risk sparked by NATO General Secretary Stoltenberg’s latest pushback against Russian claims that is removing more troops from the front line. However, the core Eurozone bond is near the upper end of the 164.89-34 Eurex range having closed at 164.54 yesterday alongside Gilts hugging 117.70 vs 119.32 and their 119.60 prior Liffe settlement price, in contrast to the 10 year T-note meandering midway between 125-30/21 parameters awaiting US data and the 20 year auction before FOMC minutes.

16 Feb 2022 - 10:51- Fixed IncomeData- Source: Newsquawk