The post-10-Year Tsy auction move lower in U.S. yields and late Tuesday move off wides in EGB spreads provides some upward impetus for equity futures ahead of the European & London cash opens, with the Euro Stoxx 50 contract +0.45% and the FTSE 100 equivalent +0.55%. Both remain comfortably within yesterday’s ranges.
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Gilt calls, range 97.69/97.76.
Some focus on the EU Cash, on the back of highher futures, albeit off Friday's best levels.
Euribor futures are flat to +2.5 through the blues as core EGBs move higher in early European trade.
| Meeting Date | ESTR ECB-Dated OIS (%) | Difference Vs. Current Effective ESTR Rate (bp) |
| Jun-24 | 3.679 | -22.2 |
| Jul-24 | 3.624 | -27.7 |
| Sep-24 | 3.440 | -46.2 |
| Oct-24 | 3.369 | -53.2 |
| Dec-24 | 3.221 | -68.0 |