EUROPEAN FIXED INCOME UPDATE: midweek reprieve for downtrodden debt?
Analysis details (10:19)
It’s far from certain, but the omens bode better for bonds in terms of maintaining recovery momentum and ending Wednesday’s session above their prior session troughs that has been a rare occurrence ever since the rout began. Indeed, Bunds have already cleared a few interim chart obstacles, including a full retracement from yesterday’s Eurez peak to trough and peered over 160.00 at 160.02 before running out of steam, while Gilts stopped just 6 ticks shy of 121.00 vs a 120.35 low and the 10 year T-note is nearer its 122-30+ overnight high than 122-12 low even though 20 year issuance looms. However, buyers will be all too aware that bears remain dominant and selling upticks is still prudent not to mention profitable.
23 Mar 2022 - 10:18- Fixed IncomeResearch Sheet- Source: Newsquawk
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