EUROPEAN FIXED INCOME UPDATE: debt fails to muster meaningful traction

Analysis details (10:36)

Bond bears have been baited on more than one occasion, but far from sated as Bunds, Gilts and the T-note retreat to new intraday troughs, at 130.89, 92.39 and 110.15+ respectively. Trade remains extremely whippy as is often the case in the run up to a US jobs report, though ultimately the downside path is proving easier to follow for technical reasons and from a pure price momentum perspective. Chart-wise, there appears to be little in the way of ‘support’ for the core Eurozone future until 130.55 or 2.70% in the corresponding yield, while its UK equivalent will look towards yesterday’s 92.18 low for a prop, as will the T-note after basing at 110-05 on Thursday.    

07 Jul 2023 - 10:36- Fixed IncomeResearch Sheet- Source: Newsquawk