EUROPEAN FIXED INCOME UPDATE: Gilts and BTPs front-run broad, robust revival
Analysis details (10:39)
US Treasures are still observing some caution before potentially key CPI data, but EU bonds are flying just a day after diving to new cycle lows and UK debt is leading the mainstream recovery aided and abetted by Italian BTPs that is carrying the baton for the EZ periphery. No clear or obvious catalysts, though Italy’s mid-month and multiple tenor issuance taken down satisfactorily and there is chat in UK markets about another possible fiscal U-turn and/or the BoE relenting on buy-backs to offer further assistance beyond tomorrow, albeit all speculation at this stage. Nevertheless, Gilts have been up to 94.85 from a 92.20 early Liffe low and a 90.38 trough yesterday, Bunds got to within 6 ticks of 137.00 before stalling and BTPs even closer to 111.00, at best.
13 Oct 2022 - 10:39- Research Sheet- Source: Newsquawk
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