EU DEBT LATEST: more downside for core bonds

A bit more follow-through selling, partly o the back of the UK services PMI beat, which for the record also chimes with the CBI’s 3 month rolling index for the sector that hit 20 in February from 9 previously. Gilts have now been as low 121.47, -13 ticks vs +33 ticks at best, while Bunds erased all their gains and tad more at 159.71 having been 61 ticks ahead at one stage – inching closer to a technical gap at 159.65. Safe-haven bonds also acknowledging the recovery in EU bourses.