EUROPEAN FIXED INCOME UPDATE: UK debt dips to fresh lows post-PMIs
Analysis details (10:20)
Gilts have slipped to a new intraday base, albeit marginal at 96.25 in recent trade and probably in recognition of minor upward revisions to the final services and composite PMIs whereas Bunds are off worst levels having pared some losses from 134.81 amidst more mixed Eurozone macro releases including soft PMIs, PPI, Sentix readings vs a healthier than expected German trade balance. Elsewhere, US Treasuries remain underwater, but the curve is a bit more stable after post-NFP flattening in advance of the final PMIs, services ISM and a speech from Fed’s Mester, with the T-note towards the bottom of a 113-12+/24+ range.
05 Jun 2023 - 10:20- Research Sheet- Source: Newsquawk
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