EU DEBT LATEST: decent bounce from post-Ifo lows

Bunds and Gilts have both recovered pretty well from worst levels, and the rebound came around the release of UK data showing the fewest housing loans granted in just over a year along with some other weaker borrowing stats. The BBA release is not usually a major market mover, but perhaps helped to stop the decline in UK debt, while the 10 year German benchmark found a base only a few ticks below the initial low on the Ifo survey headlines, at 162.67. From a technical standpoint, sellers/shorts are said to have a pull-back target around 162.61 in mind, and market contacts suggest further downside unlikely unless this is breached. Note also, there is still a chart gap to fill up to 163.06, but Bunds are drifting again having topped out near 162.90, as Gilts fade from a recovery high close to 125.25. Trading volumes have gradually risen to some 250k lots each, but pale into comparison vs averages.  

24 Nov 2017 - 11:06- - Source: ransquawk

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