PIPELINE: Corporate Bond Roundup: Nissan Motor 3Pt on Tap
* Date $MM Issuer (Priced *, Launch #) * 07/10 $2.25B Nissan Motor $750M Each: 5Y 7.25%a, 7Y 7.75%...
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EURGBP TECHS: Breaches Resistance
- RES 4: 0.8557 High Apr 28
- RES 3: 0.8541 High May 2
- RES 2: 0.8502 38.2% retracement of the Apr 11 - May 29 downleg
- RES 1: 0.8469 Intraday high
- PRICE: 0.8456 @ 14:56 BST Jun 10
- SUP 1: 0.8407/8356 Low Jun 4 / Low May 29 and the bear trigger
- SUP 2: 0.8327 1.382 proj of the Apr 11 - 16 - 21 price swing
- SUP 3: 0.8316 Low Mar 28 and a key support
- SUP 4: 0.8277 1.618 proj of the Apr 11 - 16 - 21 price swing
EURGBP has traded higher today. The recovery has resulted in a break of resistance at 0.8440, the 50-day EMA. This highlights a potentially stronger reversal and exposes 0.8541, the May 2 high. For bears, support to watch lies at 0.8356, the May 29 low. Clearance of this level would resume the downtrend and open 0.8316, the Mar 28 low and a key support. Initial support has been defined at 0.8407, the Jun 4 low.
GILTS: Bullish Theme Developing In Futures
The post-labour market rally in gilt futures has pushed the contract through the June 5 high (92.63) and Fibonacci resistance (92.79), with the contract topping out at 92.86 so far.
- Bulls eye next resistance at the round number (93.00) which protects the next Fibonacci level (93.05) as they look to wrestle greater technical control away from bears.
EQUITIES: Stoxx600 outright call buyer
SXXP (20th June) 557.5c, bought for 2.1 and 2.3 in 14.9k.
