EUROPEAN FIXED INCOME UPDATE: solid rather than strong German Schatz sale
Analysis details (10:51)
Almost groundhog day for bonds as they stand firm, but off peaks after extended gains to 136.46 for Bunds, 101.51 for Gilts and 113-14 in the case of the T-note. Meanwhile, the 2 year German debt future is holding just above 117.00 and also down from best levels in wake of the latest Schatz tap that came with a healthy concession and lower retention, though may have drawn a stronger bid-cover ratio than the previous auction given the reaction to recent Eurozone inflation data that is softer than expected and has tempered ECB tightening expectations. Looking ahead, the spotlight turns to the US manufacturing ISM and JOLTS before FOMC minutes.
04 Jan 2023 - 10:51- Research Sheet- Source: Newsquawk
Subscribe Now to Newsquawk
Click here for a 1 week free trial
Newsquawk provides audio news and commentary for over 15,000professional traders and brokers worldwide. Services include:
- Real-time audio coverage from 0630 to 2200 London time plus Asia-Pac 2200 to 1000 London time
- Teams of analysts covering equities, fixed income, FX, energy, and metals markets
- Real-time scrolling news service with instant analysis
- Daily and weekly pre-market research and calendars
- Video updates covering near-term key risk events & primary trading themes
- One-to-one chat with our expert analysts