POWER: Poland's February Drops from All-Time High on Energy Complex, Temps

Jan-08 15:12

You are missing out on very valuable content.

Poland's February dropped from the previous session to track losses in European coal and emissions a...

Historical bullets

EGB FUNDING UPDATE: Spain 2026 Funding Plan Update

Dec-09 15:07
  • The gross issuance target for MT/LT debt is E176.935bln (which is in line with the 2025 target of E176.514bln but E5bln above the E171.514bln expected outcome).
  • Redemptions of MT/LT debt in 2026 total E126.935bln (around E5.4bln higher than in 2025).
  • This leaves net MT/LT issuance at E50bln  (2025 planned E55bln but realised E50bln).
  • Gross issuance in 2024 was E169.898 (net issuance E51.780bln). The 2024 target was E173.118bln (net issuance E55bln).
  • The stock of letras is forecast to increase E5.0bln to E108.758bln (it also increased E5.0bln in 2025).

GOLD TECHS: Trend Structure Remains Bullish

Dec-09 15:06
  • The trend condition in Gold is bullish.
  • The bear phase between Oct 20 and 28 appears to have been a correction and note that the recovery since Oct 28 signals the end of that corrective cycle.
  • Moving average studies remain in a bull-mode position, highlighting a dominant uptrend.
  • Key support to watch lies at the 50-day EMA.
  • Clearance of this EMA would signal scope for a deeper retracement.
  • The key resistance and the bull trigger is at $4381.5, the Oct 20 high.
XAU Curncy_09

US TSYS: Post JOLTS Data React

Dec-09 15:04
  • Treasury futures gap lower after JOLTS job opening surge higher, quits levels decline.
  • Currently, TYH6 trades 112-06 (-2) vs. 112-05 low - contract trades through 112-07, the Nov 5 high and a bear trigger. The breach strengthens a bear theme and signal scope for a move towards 112-00 next, the 1.00 projection of the Oct 17 - Nov 5 - 25 price swing. Clearance of this level would open 111-19, the 1.236 projection.
  • Curves flatter: 2s10s -1.325 at 57.399, 5s30s -1.429 at 103.954.
  • Bbg US$ index gaining: BBDXY at 1215.18 +1.06.