EUROPEAN FIXED INCOME UPDATE: some respite for distressed debt futures

Analysis details (10:05)

Few will be fooled or taken in by the latest rise in bonds that is more apparent on the part of US Treasuries and could well be consolidative as the countdown to the conclusion of this month’s FOMC continues. However, USTs are flat having extended their declines overnight and in early EU trade with some knock-on in Bunds and Gilts that have clawed back losses from a 160.86 Eurex low and 121.08 Liffe trough to trade around 161.32 and 121.53 respectively (latter representing a new intraday best). Hence, less concession for impending Eur 4 bn 2032 German supply as the 10 year yield slips back from a temporary breach of upside chart resistance, but perhaps still quite enticing at 37 bp or so. Also to come, US retail sales, import and export prices, plus Canadian CPI.  

16 Mar 2022 - 10:05- Fixed IncomeResearch Sheet- Source: Newsquawk