EUROPEAN FIXED INCOME UPDATE: knock down price ensures solid Schatz sale
Analysis details (10:51)
There was clearly sufficient concession to attract buyers at Germany’s 2025 auction, as the 3%+ yield proved attractive, but the near twice oversubscribed offering came via a fractionally larger retention to keep the underlying future depressed within a 114.95-115.52 range. However, Bunds, Gilts and the T-note are taking a breather after the latest bout of selling and reversion to bear-steepening as the 10 year bonds hover near 133.00 between 133.61-132.51 parameters, closer to 100.00 than 99.38 trough and midway within a 111-21+/10 band respectively in advance of more top tier NA macro releases and Central Bank rhetoric.
28 Feb 2023 - 10:51- Research Sheet- Source: Newsquawk
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