EUROPEAN FIXED INCOME UPDATE: bond rout rages on with no end in sight
Analysis details (10:47)
It’s become increasingly ominous and futile for dip-buyers in debt futures as any bounce is met by selling in bigger size, as Bunds edge closer to the brink of technical support protecting 132.00, Gilts extend their underperformance on arguably overaggressive/extended BoE rate hike projections and US Treasuries fall further in the wake of hawkish FOMC minutes. In fact, the core Eurozone bond has dipped to 132.09 as the corresponding yield approaches 2.55%, it UK equivalent just slumped to 93.14 and the T-note is teetering above 111-00 in the run up to a busy PM agenda including top tier data and scheduled speeches from Fed’s Logan and ECB’s Schnabel.
06 Jul 2023 - 10:47- Research Sheet- Source: Newsquawk
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