A blow out from Goldman Sachs, and a beatthe estimates from Johnson and Johnson, and Intel is carrying this market higher, as we edged up slightly higher yesterday in the US and all futures across the board are sharply higher on better then expected Intel numbers.
Bunds hit yesterdays projection of 121.50 before bouncing, but with the current strength in equities we could be looking for a further leg downwards with a Lower Potential at 121.44 & 30.
On the Euribor front, the curve is shifting again after being in a tight range of late. The front end of the curve is pushing higher, with front month spreads jumping more than 2 FAT ticks from Monday sigh Sep10-Dec10 spread trading 36.5 after trading 33.5s earlier in the week, where as the long end of the curve spreads are falling, with Jun11-Sep11 spread trading 24s after trading 25s earlier. I'm looking to short the front end today as we approach highs reached 2 weeks ago, but a break above the 37 level on Sep10 would prompt me to look at reversing. As of now its holding well.
Looking forward we have UK employment figures, US CPI and the FOMC minutes which will move around this market a bit.
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