Bund confirms break above downtrend channel

Markets: Fixed Income On Friday, global bonds gained further ground supported by month end duration extension buying and weaker equities. The data had little immediate impact, although French consumer confidence, US personal income and Michigan consumer confidence all came out better than expected. Overall, this weren’t the most important data, as investors are still looking for hard evidence of an economic recovery. In a daily perspective, US yields were slightly lower (0 to 3 basis points)