[MARKET ANALYSIS] A marginally firmer start for fixed with non-geopolitical updates somewhat light, ISM ahead
Newsquawk Staff ·
- A slightly firmer start for Bunds and USTs. All focus on the geopolitical situation re. Venezuela, with newsflow otherwise a little light.
- Bunds up to a 127.31 peak with gains of 20 ticks at best. However, the benchmark has since trimmed to unchanged but remains clear of the overnight 126.98 low. Within Europe, focus on Dutch pension reform as while the switch in the pension system has been long flagged, the full scale of the impact is not yet known.
- USTs similar, hit a 112-12 peak with strength of six ticks at best before fading to just above unchanged but above the 112-05 base.
- JGBs sold overnight as the 10yr yield hit another multi-year high amid outperformance in domestic stocks.
- Ahead, US ISM Manufacturing is the main scheduled event. However, any fresh updates on the geopolitical situation will undoubtedly take centre stage.
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