GOLD: Another Fresh All-Time High
Oct-17 08:55
Gold registered another fresh all-time high at $4,379.9/oz in Asia hours, before fading back below $...
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BONDS: Firmer As Equities Weaken, Major Contract Initial Resistance Untouched
Sep-17 08:49
Core global FI markets firm on the back of the FT story suggesting that “China tells its tech companies to stop buying all of Nvidia’s AI chips”, with bull flattening seen on those curves.
- TY, Bund & gilt futures break yesterday’s highs, but do not force tests of our technical analyst’s initial resistance levels.
EQUITIES: Lower On Suggestion China Pushes Tech Cos To Cease Nvidia Chip Buying
Sep-17 08:44
E-minis offered after as an FT sources report notes that "China’s internet regulator has told the country’s biggest technology companies to stop buying all of Nvidia’s artificial intelligence chips and terminate their existing orders, as Beijing steps up efforts to boost its homegrown semiconductor industry and compete with the US".
- S&P 500 e-minis through yesterday's low, breaking 6,660. Initial support comes in at the 20-day EMA (6,559.62).
- Nvidia shares now indicated 1.1% lower pre-market.
- Prior reporting had suggested that Chinese firms were not satisfied with the Nvidia chip offering available to them, while Chinese regulatory scrutiny of Nvidia has stepped up in recent days.
FED FUNDS FUTURES: FFF6/G6 Lifted
Sep-17 08:29
FFF6/G6 paper paid -12.0 on ~3.9K.
