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GBPUSD TECHS

Bears Pause For Breath

EURUSD TECHS

Trend Needle Still Points South

EUROSTOXX50 TECHS

(Z1) Bearish Risk Remains Present

BTP TECHS

(Z1) Recovers Off Last Week's Low

SNAPSHOT

Stabilisation

Day ahead

EGBS
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  • Bunds have been moving higher through both the late Asian and early European session, in line with the moves seen by Treasuries with fixed income helped by the news that Evergrande Group secured an extension on the maturity of a $260mn bond issued by Jumbo Fortune Enterprises, the JV it is involved in and guarantees the bonds for. See our earlier bullet here for more.
  • The ECB has entered into its 7-day quiet period ahead of next week's monpol meeting so there are no speakers today while there is only second tier data (French confidence data better than exp with Italian industrial orders data due at 9:00BST / 10:00CET).
  • There is decent supply this morning with Spain launching a new 5-year Bono and tapping its 15-year Obli for a combined E4.5-5.5bln, France selling E6.5-7.5bln of MT OATs and E1.25-1.75bln of linkers.
  • Peripheral spreads are a little wider this morning.