US 10YR FUTURE TECHS: (Z5) Trades Through Key Resistance
- RES 4: 115-00+ High Oct 1 ‘24 (cont)
- RES 3: 114-21+ 1.00 proi of the Aug 18 - Sep 11 - 25 price swing
- RES 2: 114-10 High Apr 7 (cont) and a key resistance
- RES 1: 114-02 Intraday high
- PRICE: 113-16+ @ 17:23 BST Oct 17
- SUP 1: 113-13 Low Oct 17
- SUP 2: 112-30 20-day EMA
- SUP 3: 112-18+ 50-day EMA
- SUP 4: 112-06 Low Sep 25
Treasuries remain in a clear bull cycle and Friday’s gains have resulted in a breach of key resistance at 113-29, the Sep 11 and a bull trigger. This confirms a resumption of the medium-term uptrend. Note that moving average studies are in a bull-mode position and this set-up continues to highlight a dominant uptrend. Sights are on 114-10, the Apr 7 high (cont) and the next key resistance. Firm support lies at 112-30, the 20-day EMA.
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BOC RATE CUT GOOD NEWS, FINANCE MINISTER SAYS
- BOC RATE CUT GOOD NEWS, FINANCE MINISTER SAYS
SWEDEN: Government Nudges 2026-27 GDP Forecasts Higher Ahead Of Budget Bill
Bloomberg report small upward revisions to the government's GDP growth forecasts for 2026 and 2027:
- "*SWEDISH GOVT STILL SEES GDP GROWTH OF 0.9% IN 2025
- *SWEDISH GOVT SEES GDP GROWTH OF 3.1% IN 2026; SAW 3% IN AUG.
- *SWEDISH GOVT SEES GDP GROWTH OF 2.6% IN 2027; SAW 2.5% IN AUG.
- *SWEDISH GOVT UPDATES GROWTH FORECASTS IN WEBSITE STATEMENT" - bbg
It comes ahead of Monday's full presentation of the 2026 Budget Bill. See the MNI Preview published earlier today: https://media.marketnews.com/MNI_2026_Swedish_Budget_Preview_250917_d44c526621.pdf
US STOCKS: Midday Equities Roundup: DJIA Outperforms Ahead FOMC Policy Annc
- Stocks trade mixed ahead midday Wednesday, the DJIA outperforming weaker S&P emini and Nasdaq indexes, holding to generally narrow ranges in the leadup to the FOMC policy announcement at 1400ET.
- Currently, the DJIA trades up 319.32 points (0.7%) at 46078.41 (record high of 46137.20 on Sep 11), S&P E-Minis down 7.75 points (-0.12%) at 6659.75, Nasdaq down 118.5 points (-0.5%) at 22215.66.
- Information Technology and Communication Services sector shares underperformed in the first half: tech stocks under pressure after reports China authorities have banned the sale of Nvidia chips to top technology firms: Broadcom Inc -3.50%, Western Digital -2.95%, Palantir Technologies -2.94%, NVIDIA -2.72% and Oracle -2.66%.
- Interactive media and entertainment shares weighted on the Communication Services sector: Warner Bros Discovery -1.37%, Alphabet -1.33%, Meta Platforms -1.03% and Live Nation Entertainment -0.67%.
- On the positive side, Financial and Consumer Staples shares led gainers in the first half, banks and services stocks buoyed the former: American Express +2.57%, US Bancorp +2.31%, MSCI +2.19%, Citizens Financial +2.07%, W R Berkley +2.02% and Global Payments +1.91%.
- Meanwhile, retail sellers held modest gains Dollar Tree +3.04%, Walmart +1.95%, Kenvue +1.93%, J M Smucker +1.67% and Brown-Forman +1.50%.
