EUROPEAN INFLATION: Potential Services One-Off Should Take Away From Core Upside
Oct-31 10:27
Further on the Eurozone HICP details - the services upside likely being a one-off to a decent degree...
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SONIA OPTIONS: SFIM6 96.60/96.80 Call Spread Lifted
Oct-01 10:27
SFIM6 96.60/96.80 call spread paper paid 3.5 on 8.6K. Desks note paper bought 9K at the same price on Tuesday.
BUNDS: A recovered towards the intraday high
Oct-01 10:26
- Bund is back towards it session after it tested the initial Gap target down to 128.26, printed a 128.24 low weighted by the earlier German supply.
- US Tnotes is still mostly underpinned as the US starts to join the session.
- Volumes in the Bund is above average, the German 10yr Supply equated to 42k Bund for hedging needs.
- There has been plenty of reports that the NFP will be delayed in case of a shutdown, but nothing is still set in stone.
- Overnight: "CHAVEZ-DEREMER (Secretary of Labor) Said "BLS report will be delayed in event of shutdown".
US 10YR FUTURE TECHS: (Z5) Testing Support At The 50-Day EMA
Oct-01 10:15
- RES 4: 114-10 High Apr 7 (cont.)
- RES 3: 114-00 Round number resistance
- RES 2: 113-12/29 High Sep 18 / High Sep 11 and the bull trigger
- RES 1: 112-22+/113-00 20-day EMA / High Sep 24
- PRICE: 112-16 @ 11:05 BST Oct 1
- SUP 1: 112-01 50.0% retracement of the Jul 15 - Sep 11 bull phase
- SUP 2: 111-26 Low Aug 26
- SUP 3: 111-13+ Low Aug 18 and a key support
- SUP 4: 111-01+ 76.4% retracement of the Jul 15 - Sep 11 bull phase
A short-term bear cycle in Treasury futures remains in play. Recent weakness has resulted in a print below the 50-day EMA, currently at 112-10+. A clear break of this average would undermine a bull theme and signal scope for a deeper retracement. This would open 111-13+, the Aug 18 low and the next key support. On the upside, initial firm resistance to watch is unchanged, at 113-00, the Sep 24 high.
