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AUSSIE 10-YEAR TECHS

(U2) More Stable But Still Fragile

USDCAD TECHS

Trend Structure Remains Bullish

US TSYS

Cautious Risk Appetite Gains Momentum

AUDUSD TECHS

Key Support Still Exposed

US STOCKS

Late Equity Roundup: 2W Highs

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MARKET INSIGHT

Worth keeping an eye on Eurozone 5y5y inflation swaps here after they have hit their highest intraday levels since 2014 today, hitting a high of 2.17%. This was above Friday's high of 2.11% and breached the intradays highs just below 2.13% seen in October and January.

  • The driver is energy with oil moving above $125/bbl (with Brent having breached $130/bbl overnight) while European natgas (Dutch TTE) is now trading at E/MWh340 after first breaching E/MWh200 on Friday.
  • The 5y5y inflation swap tends to be the preferred metric for market-based medium-term inflation expectations for ECB Governing Council members, so will be closely watched ahead of the ECB meeting on Thursday.

Source: Bloomberg, MNI

MNI London Bureau | +44 203-865-3820 | tim.davis@marketnews.com
MNI London Bureau | +44 203-865-3820 | tim.davis@marketnews.com

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