September 23, 2022 14:26 GMT
- Another really busy session across multi assets, after the UK set the tone for the UK markets this morning, with some continuation this afternoon.
- EGBs and Bund did bounce, as some Desks squared ahead of the weekend.
- The push higher was short lived, after US PMIs came above expectations.
- Peripheral spreads are all wider, Italy in the lead by 7.9bps.
- Biggest move is in the UK, with UK 10yr yield moves above the US 10yr today, first time since 2014
- Gilt/Bund spreads targets the 1996 high at 179.90, also the widest print since 05/10/1992, now at 176.3bps.
- Looking ahead, notable data for next week, include Japan Prelim PMI, German IFO (mon).
- Sweden PPI, US prelim Durable goods (tue).
- US Wholesale Inventories (wed).
- Spain/German CPI, US 3rd reading GDP/Core PCE (thu).
- Japan Employment/IP/Retail sales, China Manufacturing PMI, UK final GDP, French/EU/Italy prelim CPI, Polish CPI, US PCE core, MNI Chic PMI, final Michigan (fri).