EQUITY TECHS: E-MINI S&P: (H5) Pierces Support
Feb-26 14:46
* RES 4: 6205.38 0.764 proj of the Jan 13 - 24 - Feb 3 price swing * RES 3: 6200.00 Round number res...
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EQUITIES: Estoxx put spread
Jan-27 14:43
SX5E (21st Mar) 4750/4250ps 1x2, bought for 9.7 in 4k.
GILTS: Rally Fades As E-minis Recover From Lows
Jan-27 14:40
Gilts happy to consolidate within the range set during London morning trade
- Futures +37 at 92.28 vs. session highs of 92.68.
- Friday’s high was pierced but Fibonacci resistance (92.75) is untouched. Bulls need to break the latter to pose a greater threat to the bearish trend.
- Yields now 2-4bp lower on the day, 3-4bp off session lows.
- BoE-dated OIS shows 71bp of cuts through year-end. vs. ~66bp late Friday and 73bp at one point today.
- SONIA futures flat to +7.0.
- Long-dated BoE APF sale due shortly.
- After that, eyes will be on the DMO gilt tender announcement scheduled for tomorrow morning (07:30).
- A reminder that the DMO is looking to hold a tender of a sub-5-Year gilt on Thursday. We believe that the 0.125% Jan-26 gilt is the most likely candidate for issuance via that tender and pencil in a GBP1.0-2.0bln size for the transaction (greater colour surrounding our thoughts can be found in an earlier bullet).
EQUITIES: All the attention turns to the US Cash Open
Jan-27 14:25
All the attention will likely be on the Equity Cash open now, Friday's low in the NDX was at 21,709.06.
The European Tech Index (SX8P) is still down 4.47%, and NVIDIA is down 12% pre Market.
- Calls: SPX: 5,973.5 (-2.1%); DJIA: 44,087 (-0.8%/-338pts); NDX: 21,021.1 (-3.5%).
