RATINGS: Stable Ratings Up For Review

Jan-20 15:32

Potential rating reviews slated for after hours on Friday include:

  • Fitch on Hungary (current rating: BBB; Outlook Stable), Ireland (current rating: Ireland at AA-; Outlook Stable) & Norway (current rating: AAA; Outlook Stable)
  • DBRS Morningstar on Austria (current rating: AAA, Stable Trend), Estonia (current rating: AA (low), Stable Trend), the European Financial Stability Facility (current rating: AAA, Stable Trend), the European Stability Mechanism (current rating: AAA, Stable Trend) & Switzerland (current rating: AAA, Stable Trend)

Historical bullets

US EIA: CRUDE OIL STOCKS EX SPR -5.9M TO 418.2M DEC 16 WK

Dec-21 15:30



  • US EIA: CRUDE OIL STOCKS EX SPR -5.9M TO 418.2M DEC 16 WK
  • US EIA: DISTILLATE STOCKS -0.24M TO 119.9M IN DEC 16 WK
  • US EIA: GASOLINE STOCKS +2.53M TO 226.1M IN DEC 16 WK
  • US EIA: CUSHING STOCKS +0.85M TO 25.2M BARRELS IN DEC 16 WK

US 10YR FUTURE TECHS: (H3)‌‌ Pierces The 50-Day EMA

Dec-21 15:26
  • RES 4: 116-23+ 2.0% 10-dma envelope
  • RES 3: 115-26 2.00 proj of the Oct 21 - 27 - Nov 3 price swing
  • RES 2: 115-14 50% Aug - Oct Downleg
  • RES 1: 114-23/115-11+ High Dec 19 / 13 and the bull trigger
  • PRICE: 113-25 @ 15:24 GMT Dec 21
  • SUP 1: 113-09+ Intraday low
  • SUP 2: 112-11+ Low Nov 21 and a key short-term support
  • SUP 3: 112-05+ Low Nov 14
  • SUP 4: 110-22 Low Nov 10

Treasury futures remain soft. Tuesday’s move lower resulted in a break of support at 113-22+, the Dec 12 low and a key short-term level. This undermines the recent bull theme and instead suggests scope for a deeper retracement. The focus is on 112-11+, the Nov 21 low. Note that the contract has pierced the 50-day EMA - at 113-15. A clear break would strengthen the bear threat. Key resistance is at 115-11+, the Dec 13 high.

US TSYS: Correction To Auction Time In 0957ET Preview

Dec-21 15:05

The 20Y Bond re-open auction takes place at 1300ET today (not 1130ET as in our earlier note).