November 09, 2022 16:27 GMT
Bonds Extending Highs Again
US TSY FUTURES
Tsys extending session highs again, trading desks point to Gilts and Bunds leading (former sees 30Y yield fall 21bp to 3.53%). Current 30YY slips to 4.2443%.
Still no definitive driver for bond support, just opinions:
Still no definitive driver for bond support, just opinions:
- Some desks still citing early Russia withdrawal headlines for short unwinds in rates.
- Unsupported chatter that easing of China covid curbs may not happen as some headlines the last 24-36 hours suggest.
- Flight to quality as crypto rout deepens.
- More prosaic: GE Healthcare 6pt jumbo may not be as large as rumored, spurring unwinds (does not explain support in Bunds nad Gilts, however).
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