EU REAL ESTATE: SVEAFASTIGHETER AB (SVEFAS): Redemption
* SE0022244018 SVEFAS 4.75 27 to be redeemed at Par on 3 Feb 2026 * The bonds are callable at Par at...
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
EQUITY TECHS: E-MINI S&P: (Z5) Sights Are On The Key Resistance
- RES 4: 7000.00 Psychological round number
- RES 3: 6953.75 High Oct 30 and bull trigger
- RES 2: 6918.50 High Oct 31
- RES 1: 6905.00 High Dec 5
- PRICE: 6850.75 @ 14:32 GMT Dec 9
- SUP 1: 6802.68 20-day EMA
- SUP 2: 6753.26 50-day EMA
- SUP 3: 6674.50 Low Nov 25
- SUP 4: 6525.00 Low Nov 21 and a key support
A bull cycle in S&P E-Minis remains intact and price is trading above the 20- and 50- day EMAs. Note that recent gains signal the likely end of the corrective cycle between Oct 30 and Nov 21. A continuation higher would highlight potential for a move towards the key resistance and bull trigger at 6953.75, the Oct 30 high. Key support lies at 6525.00, the Nov 21 low. First support is at 6802.68, the 20-day EMA.
GILTS: Firmer Alongside Tsys, No Reaction To Ramsden
Gilts have ticked higher alongside Treasuries, with a block buyer in U.S. TU futures helping generate the latest rally amid limited macro news flow.
- Futures register fresh session highs at 91.29 as a result. Bulls have forced the contract above initial resistance at 91.16 and a close above would switch focus to the next resistance at the November 27 high (91.93).
- Yields 3-4bp lower, curve marginally flatter.
- 2s, 30s and 50s have unwound yesterday’s sell off, while 5s and 10s are 2-3bp above Monday’s closing levels.
- TSC comments from BoE Deputy Governor Ramsden lean a little dovish (see recent bullet for greater details), although that hasn’t generated much of a market reaction in the short end.
- SONIA futures flat to +4.0.
- BoE-dated OIS pricing ~22bp of easing for this month, 29bp through February and 35bp through March, liquid contracts 0.5-2.5bp more dovish on the day.
BoE Meeting | SONIA BoE-Dated OIS (%) | Difference vs. Current Effective SONIA (bp) |
Dec-25 | 3.756 | -21.8 |
Feb-26 | 3.686 | -28.8 |
Mar-26 | 3.621 | -35.3 |
Apr-26 | 3.528 | -44.6 |
Jun-26 | 3.487 | -48.7 |
Jul-26 | 3.431 | -54.3 |
Sep-26 | 3.420 | -55.4 |
GBP: Fade in GBP accompanies Ramsden on Restrictiveness
Ramsden's comments on restrictiveness may be pressuring GBP here - as noted above he says he sees neutral as close to 3% and judges that the "policy stance continues to be restrictive."
- GBPUSD weakness presses the pair to new daily lows and trade within range of initial support into 1.3267. A break below would open the 20-day EMA intersecting at 1.3235.
- Concurrently, EURGBP trades a new daily high of 0.8743 but the strength is generally short-lived - mirroring the lack of any follow-through move in SONIA markets.
