Bunds have breached the 120 level, as stocks have sold of today. S&P 500 futures also have fallen below the 900 level, as the start of the correction continues.
Euribor spreads still maintain there upward bias but seems to have stabilised. Short sterling spreads have stayed in a range for 3 days now which is a shock, but a relief at the same time, as trading was becoming a real struggle.
Looking at Bunds, 121.50 looks like the next stop in the medium term, and to the downside we arte looking at 118.50.
For the S&P 500 the bears will feel they have gained the upper hand after breaking out of a sustained consolidation zone to the downside and having retested and held below key support they will be looking to establish a bearish down trend. With the break of 899.25 their first significant target should be at 849.00.
Subscribe to:
Post Comments (Atom)
Front month WTI Futures plunges to negative $37 as storage costs rocket
It was a move of epic proportions in the front month WTI Crude futures, the significance of which is not really known of yet, but was incre...
-
Much has been said about the new phone and the response on the surface seems exactly how you would expect it to be. Regardless of what Appl...
-
In the previous ECB meeting we had a split decision on whether to cut rates further or not but today Mario Draghi said the council decided ...
-
With the raft of poor data out this morning, we got some strong selling pressure in all parts of the curve. The 2s-10s spread hit an all tim...
No comments:
Post a Comment