Headlines * Sabadell is open to selling TSB as part of its defence against BBVA's 'hostile' acqui...
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A bear cycle in Gilt futures remains in play and recent weakness strengthens a bearish theme. Support at 90.92, the 76.4% retracement of the Apr 9 - May 2 rally, has been cleared. This break paves the way for an extension towards 89.99, the Apr 9 low and the next key support. Resistance to watch is 92.26, the 50-day EMA. Clearance of this level would be bullish and signal a potential reversal.
Full Article: US DAILY BRIEF
The earlier cross-market moves (USD, bond and equity weakness) have moderated from extremes seen in early NY trade, with Monday’s high in 30-Year Tsy yields (3.0353%) holding and seemingly providing the key to broader stabilisation in USD assets.