EU CONSUMER CYCLICALS: Sodexo: 1Q Results
Jan-09 14:22
(SWFP; Baa1/BBB+/BBB+) {SW FP Equity} Underperformance continues. No cost to rotate into performing...
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BOC: Analysts Unanimous On Dec Hold, Diverge On Whether Next Move Is A Hike
Dec-10 14:20
Analysts are unanimous on a December rate hold by the BOC. See table below for current views.
- Almost all analysts have removed any further rate cuts from their outlook since the October meeting and, latterly, the November labour market report.
- Some have started to see rate hikes by early 2027 enter their base case (Scotiabank already had hikes as part of their outlook).
- No Canadian analysts see further cuts. Some non-Canadian institutions see the BOC's easing cycle as not-quite-over: BofA expects two 25bp cuts early next year, with ING eyeing a final 25bp cut.
EGB OPTIONS: Schatz outright Call buyer
Dec-10 14:16
DUH7 107c, bought for 5.75 in 5k.
BOBL TECHS: (H6) Trend Condition Is Oversold
Dec-10 14:07
- RES 4: 117.140 High Nov 26 and key resistance
- RES 3: 117.070 High Nov 27
- RES 2: 116.960 High Dec 1
- RES 1: 116.320/770 High Dec 8 / 3
- PRICE: 115.900 @ 13:51 GMT Dec 10
- SUP 1: 115.720 Intraday low
- SUP 2: 115.660.4.000 proj of the Nov 6 - 14 - 26 price swing
- SUP 3: 115.600 Round number support
- SUP 4: 115.573 4.236 proj of the Nov 6 - 14 - 26 price swing
The trend theme in Bobl futures remains bearish - last week’s sell-off plus this week’s extension, reinforces a bear theme. Price last week breached support at 116.790, the Nov 14 and 20 low. This confirmed a resumption of the downtrend that started mid-October. Sights are on 115.660 next, a Fibonacci projection. Note that the trend is oversold, a recovery would allow this set-up to unwind. First important resistance is at 116.770, the Dec 3 high.
