MARKET INSIGHT: What to watch
Jun-24 06:35
After huge moves in STIR markets yesterday particularly in Europe (up to 34 ticks moves in Euribor futures, 30 ticks in SONIA futures and 11 tick moves in Eurodollar futures), we have seen a very small retracement this morning so far.
- This morning the main data release will be the German IFO while the afternoon will see the final print of Michigan confidence alongside US new home sales.
- We will also have a number of central bank speakers with ECB's Centeno, de Cos and de Guindos, the Fed's Bullard and Daly and the BOE's Pill and Haskel.
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EQUITIES: Drifting lower on the Govie cash open
May-25 06:30
- Focus today is on Speakers and the FOMC minutes, but investors will be closely watching Equities and downside risks.
- Estoxx (VGM2) sees small support at 3655.00 initially
BUNDS: Speakers and FOMC minutes at the forefront
May-25 06:22
- A very light overnight session for Bund with just over 5k lots traded and a tight 20 ticks range.
- The contract is underpinned on the cash open, as Equity futures fade, and through the overnight high, now at 153.77.
- Resistance will be seen at 154.00, while support comes circa 153.16.
- Very little in terms of data out of Europe,
- French Consumer Confidence and Spanish PPI are the only releases. Out of the US, Prelim Durable goods is the notable data.
- But more attention on the FOMC minutes.
- SUPPLY: German EU2bn 15y (equates to 21.5k Bund), $48bn 5y and 2y $22bn FRN.
- SYNDICATION: France benchmark 15yr Green Linker, and Finland EU3bn WNG 10y.
- SPEAKERS; All the attention will be on speakers with a packed day ahead, ECB Lagarde, Rehn, Panetta, Holzmann, de Cos, Lane, Knot, BoE Tenreyro, Fed Brainard.
MNI: SWEDEN APR UNEMPLOYMENT 8.2%
May-25 06:00
- MNI: SWEDEN APR UNEMPLOYMENT 8.2%
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