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Bearish Cycle Still In Play

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Death Cross Adding Pressure

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Risk Off Prompts Safe Haven Demand

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Midcurve Puts, Scale Seller

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Support Remains Exposed

UK

The UK's chief negotiator with the EU David Frost states, "The EU is still insisting not only that we must accept continuity with EU state aid and fisheries policy, but also that this must be agreed before any further substantive work can be done in any other area of the negotiation, including on legal texts. This makes it unnecessarily difficult to make progress. There are other significant areas which remain to be resolved and, even where there is a broad understanding between negotiators, there is a lot of detail to work through. Time is short for both sides."

MNI London Bureau | +44 203-865-0981 | tom.lake@marketnews.com