SEK: Important EURSEK Support Zone Coming Back Into View

• In the FI space, Bund futures rallied sharply higher on Friday confirming a resumption of the recovery that started Sep 25. The move higher reinforces a bullish theme and attention is on the next key resistance at 129.44, the Sep 10 high. Clearance of this hurdle would pave the way for a climb towards 129.58, 61.8% of the Jun 13 - Sep 3 bear leg. Initial support to watch lies at 128.64, the 50-day EMA. A break of this level would instead signal a reversal.
• Gilt futures rallied sharply higher on Friday confirming a resumption of the recovery that started Sep 25. The move higher reinforces a bullish theme and attention is on the next key resistance at 91.28, the Sep 24 high. It has been pierced, a continuation higher would pave the way for an extension towards key resistance at 91.82, the Sep 11 high. On the downside, price needs to trade below support at 90.26, the Sep 26 low, to reinstate a bearish theme. First support lies at 90.86, the 20-day EMA.

Comments crossing from BOE's Greene, who is speaking at a Society of Professional Economists event. Thus far, not much too surprising. A reminder that Greene wrote an OpEd in the FT last week, where she flagged the idea of skipping a rate cut (in line with her recent comments and not a surprise at all).

"*BOE'S GREENE: ACTIVITY STRONGER THAN THOUGHT A YEAR AGO" Bloomberg

"*BOE'S GREENE: INFLATION AND WAGE GROWTH STRONGER TOO" Bloomberg

"*BOE'S GREENE: CONCERNED DISINFLATION PROCESS SLOWING" Bloomberg

• "*BESSENT: OPTIMISTIC THAT CAN DE-ESCALATE WITH CHINA" Bloomberg
• "U.S. TREASURY SECRETARY BESSENT ON CHINA TRADE: WE HAVE AGGRESSIVELY PUSHED BACK AGAINST CHINA'S EXPORT CONTROLS -FOX BUSINESS INTERVIEW" Reuters
• "BESSENT ON CHINA TRADE: THIS WAS A PROVOCATIVE MOVE" Reuters
• "BESSENT ON CHINA TRADE: SUBSTANTIAL COMMUNICATION OVER WEEKEND" Reuters
• "BESSENT ON CHINA TRADE: WILLBE LOTS OF STAFF LEVEL MEETINGS" Reuters