FRANCE: Poll-63% Back Dissolving National Assembly & Snap Elections

Aug-27 07:36

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The latest polling from Ifop: https://www.ifop.com/wp-content/uploads/2025/08/121829-Ifop-pour-LCI-L...

Historical bullets

CROSS ASSET: A quick turnaround in Equities

Jul-28 07:35
  • A quick turnaround for the Estoxx Futures (VGU5), back at session lows, the Opening gap would be down to 5390.00, but not a good technical study to use for these type of contracts.
  • The Price action has dragged the Cash SX5E under 5400.00, but the pace is more limited for now.
  • The EUR is coming under some small pressure, testing the intraday low against the USD, CAD, TRY, CHF, JPY and GBP.
  • Some of the Risk Off in the past few minutes is dragging the AUD at session low, but the Dollar bid has also been a driver so far Today.

EURIBOR: Some big Volumes in the back Calendar Spreads

Jul-28 07:25
  • We noted some notable early flow in the Blue ERH9/M9 calendar spread, being sold down to 4.5 from a 5.5 record high printed last Week.
  • There's now a whopping 34k ERM7/U7 spread seller, which explains the massive volumes in those expiries.

EGBS: Peripherals Outperform As Equities Rally

Jul-28 07:22

German yields are now 1.5-2.5bp lower across the curve, with the belly & intermediates outperforming.

  • EGB spreads to Bunds are little changed to 1bp tighter, with the periphery outperforming as equities firm in the wake of the U.S.-EU trade deal.
  • Ongoing adjustments to that deal and focus on the Sino-U.S. meeting in Stockholm are noted.