FINANCIALS: Final Terms: Iccrea Banca €500m 5Y Green Sr Pref

• RES 4: 112-02   Low Oct 14
• RES 3: 111-20+ High 6 and the bull trigger   
• RES 2: 110-28   50-day EMA  
• RES 1: 110-03+ 20-day EMA
• PRICE:‌‌ 108-23 @ 11:59 GMT Dec 24
• SUP 1: 108-13+ Low Dec 24
• SUP 2: 108-12+ 1.382 proj of the Oct 1 - 14 - 16 price swing
• SUP 3: 108-00   1.500 proj of the Oct 1 - 14 - 16 price swing   
• SUP 4: 107-19+ 1.618 proj of the Oct 1 - 14 - 16 price swing

The trend condition in Treasury futures remains bearish, confirmed by the return lower on December 24th. For now, short-term gains are considered corrective. Last week’s sell-off reinforces the current bear cycle. The contract has traded through key short-term support and the bear trigger at 109-02+, the Nov 15 low. The breach confirms a resumption of the downtrend and opens 108+12+, a Fibonacci projection. On the upside, initial firm resistance is at 110-03+, the 20-day EMA.       

• US Data/Speaker Calendar (prior, estimate)
• Dec-24 0830 Philadelphia Fed Non-Manufacturing Activity (-5.9, --)
• Dec-24 1000 Richmond Fed Mfg Index (-14, -10)
• Dec-24 1000 Richmond Fed Business Conditions (10, --)
• Dec-24 1130 US Tsy $28B 2Y FRN & $70B 5Y Note auctions

SONIA FIX - Source: BBG/ICE

• 1M 4.70890 -0.0006
• 3M 4.63970 -0.0049
• 6M 4.57760 0.0062
• 12M 4.48200 0.0217