EUROPEAN FIXED INCOME UPDATE: some respite for EU debt as Treasuries regroup
Analysis details (10:45)
Bonds remain divergent in post holiday trade, but losses in Europe have been pared as USTs consolidate and regain poise after their post-manufacturing ISM tumble with the aid of some block buying. In fact, Bunds extended their recovery by almost a full big figure to 135.34 earlier when the Q1 ECB Bank Lending Survey showed significant further tightening in credit and Gilts were making their way back above 101.00 to 101.18 from a 100.37 low. However, debt futures have drifted down from best levels awaiting a busy PM agenda, including US factory orders and JOLTS job openings, ahead of even bigger risk events as May kicks off, such as the Fed on Wednesday, ECB on Thursday and NFP on Friday.
02 May 2023 - 10:45- Research Sheet- Source: Newsquawk
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