BUNDS: US PCE Data comes out inline

No real lasting impact in core global FI markets as e-minis weaken here, Very modest bid in Tsys quickly unwound, while gilts and Bunds don’t react.

• For U.S. equities, quarterly earnings reports from Meta, Microsoft and Tesla are due after-market today, with increased focus on capex and expectations for AI revenues this year after DeepSeek’s AI well-documented advances and subsequent equity vol.
• We have already suggested that while a direct comment on DeepSeek is highly unlikely, company boards will be cognisant of the risk of sizeable AI spending announcements being received poorly by an already sensitive investor base.

Riksbank Governor Erik Thedeen speaks to MNI about policy lags and dissenting votes -On MNI Policy MainWire now, for more details please contact sales@marketnews.com

Large EU Bank Block trade, suggest Buyer:

• CAH5 15k at 162.00.

Also note that the Cash  SX7E continues to clear the 162.00 figure, printed a 162.26 high, key initial level remains at the 2014 high.