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BONDS: Bid In Crude Limits Recovery

BONDS

An uptick in crude oil futures seems to limit the recovery from lows in core global FI markets.

  • Fresh session highs for both Brent & WTI, with the former piercing Friday’s high.
  • Our commodities team points to the downtick in the USD as a contributary factor for the bid in in oil and we are looking for more to explain the move. Kazakh supply/maintenance issues also seem to filter in at the margin.
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An uptick in crude oil futures seems to limit the recovery from lows in core global FI markets.

  • Fresh session highs for both Brent & WTI, with the former piercing Friday’s high.
  • Our commodities team points to the downtick in the USD as a contributary factor for the bid in in oil and we are looking for more to explain the move. Kazakh supply/maintenance issues also seem to filter in at the margin.