EUROPEAN FIXED INCOME UPDATE: some calm after Schnabel storm
Analysis details (11:03)
Debt remains markedly divergent as EGBs continue to dwell on hawkish ECB vibes and Gilts reel in wake of Wednesday’s scorching UK inflation data, while US Treasuries settle down in reaction to FOMC minutes showing awareness of overtightening and underscoring the likelihood of smaller hikes at some stage in the current cycle. However, Bunds have bounced from worst levels of 153.24 towards 154.00 and their Liffe peers are back above 114.00 vs 113.63 at the low, with USTs flat-lining and the 10 year note midway between 119–01+/118-18 bounds ahead of a busy pm agenda including IJC, Philly Fed, US existing home sales and Fed speak from George and Kaskari.
18 Aug 2022 - 11:03- Fixed IncomeResearch Sheet- Source: Newsquawk
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