US TSY FUTURES: Post UofM Sentiment React
Dec-08 15:05
- Still weaker, Tsys inch off lower levels after higher than expected U. of Mich. Expectations climbs to 66.4 vs. 57.0 est, (56.8 prior), Sentiment 69.4 vs. 62.0 est, while 1 Yr Inflation est falls to 3.1% vs. 4.5% est (4.3% prior), 5-10 Yr Inflation 2.8% vs. 3.2% est (3.1% prior).
- Mar'24 10Y futures currently trading 110-14 last, -23 vs. 110-00.5 low. Initial support well below at 109-21+ 20-day EMA. Resistance at 111-09.5, Thursday's high. Curves mixed (3M10Y +7.212 at -118.167; 2Y10Y -1.839 at -46.744).
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BUNDS: Futures Continue To Respect Initial Technical Resistance
Nov-08 15:03
Bund futures continue to respect initial technical resistance, even as BTPs richen further.
- As we have noted, Bund futures maintain a firmer technical tone - for now - and bulls eye the nearby November 3 high (130.76), which lies just beyond today’s best levels. A meaningful break there would expose 131.33, the 76.4% retracement of the Sep 1-Oct 4 down leg.
- Cash yields are little changed to 5bp lower as the curve flattens. 2s10s pulls further away from the multi-month high lodged in recent weeks to last trade at -37bp, while 5s30s pulls further away from recent ’23 steeps to last print at +27bp.
MNI:US SEP WHOLESALE INV 0.2%; SALES 2.2%
Nov-08 15:00
- MNI:US SEP WHOLESALE INV 0.2%; SALES 2.2%
EQUITIES: US Cash opening calls
Nov-08 14:28
We could get a small gap higher in SPX, printed a 4386.26 high Yesterday.
- Today's opening calls: SPX: 4,387.8 (+0.2%); DJIA: 34,212 (+0.2%/+59pts); NDX: 15,316.2 (+0.1%).
