EQUITIES: Estoxx spread trades on legs
Jun-09 08:13
- VGM3 24.9 k at 4286 vs VGU3 24.9k at 4312 and 4313.
- The spread has drifted lower since Wednesday from a -25.25 high to a -26.25 low this morning.
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EQUITIES: Bank are paring gains
May-10 08:08
- Small momentum selling in the Emini, after breaking yesterday's low, and next support will be seen at 4117.75.
- Estoxx (VGM3) targets yesterday's low at 4293.00.
MNI: ITALY MAR IP -0.6% M/M, -3.2% Y/Y
May-10 08:00
- MNI: ITALY MAR IP -0.6% M/M, -3.2% Y/Y
NORWAY: Sell-Side See Norway CPI as Supportive for Further Hikes
May-10 07:58
- Following today's CPI, Swedbank write that their peak rate baseline remains 3.75%, but risks are to the upside if the momentum in inflation continues to hold up into the autumn.
- SEB see clear upside risks to the NB inflation forecasts, expecting core CPI to remain near 6% for the remainder of 2023, supporting the case for further rate hikes.
- DNB believe CPI supports June rate hike guidance and also a higher rate path ahead. They see rates at 4.00% in September, with today's CPI supporting this view.
- Nordea see CPI supporting their view of NB raising rates to 4.00% in September, and sees peak core CPI still ahead. They see rate cuts unlikely until end-2024.
