EQUITIES: Program Buyer goes through on the Open
* Program buyer on the Open with 1715 names, the most since 23rd April. * Although starting to see s...
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GILTS: Futures Through Trendline Resistance
Gilt futures trade through both trendline resistance (92.42) and yesterday’s high (92.45) alongside the extension of the rally in U.S. Tsys, with “Liberation Day” risks continuing to underpin core global FI markets.
- Next resistance noted at the 61.8% retracement of the March 4-27 move lower (92.55), followed by the Mar 20 high (93.01).
- Yields ~4bp lower across the curve. March lows remain intact, with many of the benchmark yields comfortably off last month’s lows.
EQUITIES: US Cash Opening calls
US Cash Opening calls, similar to Futures, Cash indices will Open in the red, but will also be above Yesterday's lows.
- Calls: SPX: 5,583.9 (-0.9%); DJIA: 41,716 (-0.7%/-274pts); NDX: 19,210.3 (-1.2%).
CANADA: Ontario Premier-'Can Take Tariffs To Zero If Trump Ends Tariff War'
Speaking on CNBC, Ontario Premier Doug Ford says "We would take tariffs to zero if Trump ended his tariff war. And we told him this". Adds that he wants to see Canada exporting more critical minerals to the United States. Ford: 'Lets get back to a USCA (US-Canada) deal, not a USMCA (US-Mexico-Canada) deal'.
- During the interview, Ford refuses to be drawn on the federal election, neither endorsing opposition Conservative Party of Canada (CPC) leader Pierre Poilievre nor PM Mark Carney's Liberals. Ford hails from the Progressive Conservative Party of Ontario, which ostensibly is ideologically linked to the CPC.
