GBPUSD TECHS: Support At The 50-Day EMA Remains Intact
Jun-20 17:30
* RES 4: 1.3800 Round number resistance * RES 3: 1.3757 1.618 proj of the Feb 28 - Apr 3 - 7 price s...
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EQUITIES: Large Program Selling As Equities Pull Back
May-21 17:29
S&P drops 1.1% in the last 15 minutes, with no clear headline catalyst (higher long-end Treasury yields are seen weighing on risk appetite). However, we saw the biggest (apparent) selling program in equities since April 10 going through in the last few minutes, with as many as 1,891 names sold at 1:17pm - see chart:
US TSY FUTURES: BLOCK: Jun'25 10Y Ultra Sale
May-21 17:25
- -3,500 UXYM5 111-08, sell through 111-09 post time bid, DV01 $303,000.
- The 10Y ultra contract trades 111-05.5 last (-30)
US TSY FUTURES: Post-Auction Selling Extends
May-21 17:22
- Treasury futures extend session lows post auction, curves bear steepen (2s10s +4.122 at 5.349) with bonds yield climbing to 5.0521% high - highest since late October 2023. 10Y yield up to 4.5665% (+.0796).
- The Jun'25 10Y futures contract trades 109-19 low (-19.5) just above initial technical support at 109-18.5 (May 15 low) - strengthening a bearish theme and exposing key support at 109-08, Apr 24 low and a bear trigger.
- Cross asset update: Gold up 22.0 at 3312.13, stocks weaker again with rise in bond yield (SPX emini -55.5 at 5509.25), Crude mildly weaker (WTI -.10 at 61.93)
