EQUITIES: Some upside extension
May-20 07:55
- Estoxx (VGM2) extends small gains, volumes across the board (Govies and Rates), are very subdued.
- Small resistance moves down to 3688.00.
- In cash Stoxx600, the Index is up 1.22%, with Auto parts, Basic resources and Media the leading Stocks.
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GERMAN AUCTION PREVIEW: 2.50% Aug-46 Bund
Apr-20 07:26
On offer today: E1bln of the 2.50% Aug-46 Bund (ISIN: DE0001102341)
- The off-the-run 2.50% Aug-46 Bund was initially launched in 2014. The most recent re-opening was in June 2019.
- Market colour: Long-term Bund yields have risen substantially from the 0.0169% dip seen on March 4 as political tensions shook markets at the commencement of the Ukraine war. Yields have since rebounded by approx. 96bp to continue in an upwards trajectory.
- Timing: Results will be available shortly after the auction closes at 1030 BST / 1130 CEST.
Auction history:
| Issued | Allotted | Avg yield | Bid/cover | Bid/offer | Price | |
| Current | 0.969% | |||||
| 19-Jun-19 | E1bln | E834mln | 0.260% | 1.36x | 1.63x | 158.80 |
CROSS ASSET: Bond are extending small gains
Apr-20 07:16
- Govies extend gains on the BoJ announcement.
- Europe drags Treasuries higher. {ge} Resistance in Bund, moves down to 154.31, and a clear break above the latter, would open to last Friday's gap at 154.71
- No spillovers into FX, with most pairs trading within the early European start.
BUNDS: An uptick in Govies on the BoJ
Apr-20 07:08
- A small uptick in Bund and Govies, as the BoJ announce that they will conduct Fixed Rate Bond buying on the 21, 22, 25 and 26th April.
- They also added that they may increase the amount on the 26th April.
