EUROPEAN FIXED INCOME UPDATE: wobbly Bobl follows solid 2039 UK sale
Analysis details (10:49)
Although Bunds found support bang on 151.00 and there was more concession going into Germany’s 5 year tap, hawkish ECB reverberations resulted in or at least contributed to a poor reception and technically failed auction without a hefty retention to leave Eurozone bonds under pressure alongside US Treasuries and in contrast to Gilts that have outperformed even before a decent DMO offering of 17 year stock. Ahead, another relatively light pm agenda on paper, bar US building permits and housing starts.
19 Jul 2022 - 10:49- Fixed IncomeResearch Sheet- Source: Newsquawk
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