EUROPEAN FIXED INCOME UPDATE: more dead cat debt rebounds

Analysis details (11:02)

Bonds mustered more recovery momentum and popped higher when the SNB shocked by maintaining rates instead of tightening 25 bp as most were anticipating. However, the more hawkish FOMC vibe persists and may be exacerbated by the CBRT before attention turns to the BoE that is shrouded in uncertainty given softer than consensus UK CPI data yesterday. Bunds extended to the upside within a 129.23-69 range, but fell some distance short of filling the opening Eurex gap, Gilts topped out at 96.41 and then retreated to a deeper 95.81 Liffe low and the T-note is closer to 108.16 overnight trough than 108-25+ peak. Also to come, US weekly jobless claims for the September NFP survey period, Philly Fed, existing home sales, Eurozone consumer confidence and a couple of ECB speakers including President Lagarde.  

21 Sep 2023 - 11:02- Research Sheet- Source: Newsquawk