EUROPEAN FIXED INCOME UPDATE: debt futures fade after upside flurries
Analysis details (10:47)
In contrast to yesterday when bonds were bought on dips before waning later in the session, sellers into upticks have dominated price action and the general direction, as Bunds, Gilts and the T-note hover just above intraday lows within 134.04-78, 95.62-96.08 and 112-27-113-08+ respective ranges. Eurozone inflation data has surprised to the upside, latest remarks from Fed Chair Powell had a hawkish twist and the Riksbank continued its tightening cycle with a loftier rate path for the rest of 2023. Moreover, momentum has waned after the 10 year benchmarks failed to match or eclipse midweek highs that may have provided more impetus and incentive to target firmer recent peaks.
29 Jun 2023 - 10:47- Research Sheet- Source: Newsquawk
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