UKRAINE: RTRS-French Diplo: US & Europe Working On 30 Day Ceasefire Proposal
Reuters reporting comments from a French diplomatic source regarding the summit of the 'Coalition of the Willing' being hosted tomorrow (10 May) by Ukrainian President Volodymyr Zelenskyy in Kyiv. Says that Foreign Minister Jean-Noel Barrot is on his way to the Ukrainian capital to represent President Emmanuel Macron. Says that the US and European are working to put together a proposal for a 30-day Russia-Ukraine ceasefire. The leaders of the 'Coalition of the Willing' (UK PM Sir Keir Starmer and Macron) and US President Donald Trump have each put forward their own ideas for a month-long halt in hostilities, but it would appear that both sides are keen to get a single deal agreed to.
- The source says that the proposal "would either be a unilateral ceasefire or give a very short response time to Russia". If Russia were to refuse the proposal, the source claims both the US and EU would impose new sanctions on Russia.
- In recent days and weeks, President Trump and Vice President JD Vance have voiced increasing frustration with Russia, claiming Moscow is not interested in peace talks. Trump has raised the prospect of banking or secondary sanctions being imposed on Russia.
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US 10YR FUTURE TECHS: (M5) Monitoring Trendline Support
- RES 4: 114-10 High Apr 7 and the bull trigger
- RES 3: 113-09+ 76.4% retracement of the Apr 7 - 9 sell-off
- RES 2: 112-21+ 61.8% retracement of the Apr 7 - 9 sell-off
- RES 1: 112-08 High Apr 7
- PRICE: 110-26+ @ 15:50 BST Apr 9
- SUP 1: 110-01 Intraday low
- SUP 2: 109-29 Trendline support drawn from the Jan 13 low
- SUP 3: 109-13+ Low Feb 24
- SUP 4: 108-26+ 76.4% of the Jan 13 - Apr 7 bull cycle
A sharp sell-off in Treasury futures this week has resulted in a breach of both the 20- and 50-day EMAs. Attention is on trendline support at 109-29, drawn from the Jan 13 low. A clear break of this support would strengthen a bearish threat. Note that the steep sell-off could still be a corrective pullback that has allowed an oversold trend condition to unwind. Initial resistance to watch is 112-08, yesterday’s high. A break would highlight a possible early reversal.
US STOCKS: Early Equities Roundup: Off Lows Despite Retaliatory Tariff Volley
- Stocks have see-sawed off early overnight lows ahead midday despite China (84%) and the EU (E21B) announcing retaliatory tariffs against the US Wednesday morning. Currently, the DJIA trades down 3.06 points (-0.01%) at 37632.5, S&P E-Minis down 0.25 points (-0.01%) at 5020.25, Nasdaq up 126.9 points (0.8%) at 15391.6.
- Information Technology and Consumer Discretionary sectors outperformed in the first half, hardware and semiconductor makers buoyed the tech sector: Advanced Micro Devices +5.28%, Intel Corp +4.69%, Apple +3.90%, Skyworks Solutions +3.68% and Teradyne +3.05%.
- The Consumer Discretionary sector was supported by: Tesla +3.51%, Wynn Resorts +2.81%, Expedia Group +1.87%, Chipotle Mexican Grill +1.78% and MGM Resorts International +1.61%
- On the flipside, Utilities and Health Care sectors underperformed, alternative energy providers weighing on the former: Entergy Corp -3.52%, Evergy -3.32%, NiSource -2.91%, Duke Energy -2.72% and NextEra Energy -2.71%.
- Meanwhile, pharmaceuticals weighed on the Health Care sector: Bristol-Myers Squibb -5.73%, AbbVie -5.68%, Incyte Corp -4.88%, Regeneron Pharmaceuticals -4.77% and Eli Lilly -4.53%.
- Reminder, banks kick off the latest earnings cycle this Friday with Bank of New York Mellon, Wells Fargo & Co, JPMorgan Chase and Morgan Stanley reporting.
FED: US TSY 17W BILL AUCTION: HIGH 4.250%(ALLOT 3.28%)
- US TSY 17W BILL AUCTION: HIGH 4.250%(ALLOT 3.28%)
- US TSY 17W BILL AUCTION: DEALERS TAKE 43.15% OF COMPETITIVES
- US TSY 17W BILL AUCTION: DIRECTS TAKE 4.04% OF COMPETITIVES
- US TSY 17W BILL AUCTION: INDIRECTS TAKE 52.81% OF COMPETITIVES
- US TSY 17W BILL AUCTION: BID/CVR 2.71
