SILVER TECHS: Structure Remains Bullish
May-01 07:46
* RES 4: $36.000 - Round number resistance * RES 3: $34.903 - High Oct 23 '24 and the bull trigger *...
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MNI: ITALY MAR MANUFACTURING PMI 46.6 (FCST: 48.0); FEB 47.4
Apr-01 07:45
- MNI: ITALY MAR MANUFACTURING PMI 46.6 (FCST: 48.0); FEB 47.4
EGBS: Spreads To Bunds Little Changed
Apr-01 07:36
Spreads vs. Bunds within 1bp of yesterday’s closing levels.
- Initial spread tightening was aided by the Euro Stoxx 50 ticking further away from yesterday’s lows, but that bid has started to fade.
- Spanish manufacturing PMI a little softer than-expected, with SPGBs ~0.5bp wider vs. Bunds since the release (as much of a broader sentiment move as Spanish PMI driven).
- OAT/Bunds consolidates the recent move back above 70bp, with French political and fiscal uncertainty set to remain in play, despite Le Pen’s guilty verdict (she has been suspended from running in elections for 5 years but is appealing).
BONDS: Futures have extended gains in early trade
Apr-01 07:34
- US Treasuries and European Govies have extended gains since the European open, albeit off their respective highs in Europe,looking at the 10yr Tnotes (TYM5), some desks will look at the March high of 112.01 for the next upside resistance.
- In Yield terms, the March low at 4.1040% would equate to 112.04 Today.
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