GILT AUCTION RESULTS: New long 5-year 4.125% Mar-31 gilt Results
| 4.125% Mar-31* Gilt | Previous | |
| ISIN | GB00BVP99673 | |
| Amount | GBP4.75bln | GBP4.00bln |
| Avg yield | 4.004% | 4.208% |
| Bid-to-cover | 2.83x | 3.27x |
| Tail | 0.7bp | 0.2bp |
| Avg price | 100.582 | 98.888 |
| Low price | 100.550 | 98.876 |
| Pre-auction mid | 98.851 | |
| Previous date | 10-Sep-25 | |
| Previous issue | GB00BPSNBF73 |
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GILT AUCTION RESULTS: 5.375% Jan-56 gilt
| 5.375% Jan-56 Gilt | Previous | |
| Amount | GBP1.50bln | GBP4.00bln |
| Avg yield | 5.476% | 5.405% |
| Bid-to-cover | 3.07x | |
| Tail | 1.4bp | N/A |
| Avg price | 98.506 | 99.566 |
| Low price | 98.301 | |
| Pre-auction mid | 98.461 | |
| Previous date | 20-May-25 |
COMMODITIES: WTI Future Trend Condition Unchanged and Bearish
The trend condition in WTI futures is unchanged - a bear cycle remains intact and recent gains are considered corrective. The pullback from the Sep 2 high highlights a possible reversal and the end of a corrective phase between Aug 13 - Sep 2. Initial resistance to watch is $65.43, the Sep 2 high. Key short-term resistance has been defined at $68.43, the Jul 30 high. A stronger resumption of weakness would open $57.50, the May 30 low. Gold is in a clear bull cycle and shallow short-term pullbacks remain corrective. A fresh all-time high once again, yesterday and today, confirms a resumption of the primary uptrend and an extension of the sequence of higher highs and higher lows. The next objective is $3783.2, a Fibonacci projection. Initial firm support lies at $3594.0, the 20-day EMA. Note that MA studies are in a bull-mode position, highlighting a dominant uptrend.
- WTI Crude down $0.13 or -0.21% at $61.99
- Natural Gas down $0.01 or -0.32% at $2.797
- Gold spot up $28.35 or +0.76% at $3774.08
- Copper down $0.6 or -0.13% at $462.7
- Silver up $0.06 or +0.14% at $44.109
- Platinum up $21.72 or +1.53% at $1438.84
EQUITIES: Eurostoxx 50 Futures Trading Close to Recent Highs
Eurostoxx 50 futures are trading closer to their recent highs. The contract recently traded through resistance around the 20-day EMA - a bullish development - and the subsequent rally reinforces a bullish theme. The move signals potential for a climb towards 5525.00, the Aug 22 high and a bull trigger. On the downside, key support has been defined at 5302.00, the Sep 2 low. Clearance of this level is required to reinstate a bearish theme. A bull cycle in S&P E-Minis remains intact and the contract traded to a fresh cycle high yesterday. Price has breached the 6700.00 handle and this signals scope for an extension towards 6787.63, a Fibonacci projection point. Moving average studies remain in a bull-mode position, highlighting a dominant uptrend and positive market sentiment. Initial support to watch lies at 6616.34, the 20-day EMA.
- In China the SHANGHAI closed lower by 6.743 pts or -0.18% at 3821.833 and the HANG SENG ended 185.02 pts lower or -0.7% at 26159.12.
- Across Europe, Germany's DAX trades higher by 160.08 pts or +0.68% at 23677.84, FTSE 100 higher by 31.77 pts or +0.34% at 9257.46, CAC 40 up 69.54 pts or +0.89% at 7898.55 and Euro Stoxx 50 up 35.25 pts or +0.65% at 5475.62.
- Dow Jones mini up 29 pts or +0.06% at 46753, S&P 500 mini down 1.25 pts or -0.02% at 6752.5, NASDAQ mini up 7.75 pts or +0.03% at 25016.75.
