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E-mini S&P, US 10y Yields Erase European Morning Losses

CROSS ASSET
  • Risk backdrop improving further headed into NY hours, with the US 10y yield and e-mini S&P recouping the entirety of the pullback posted across the European morning.
  • In tandem, gold prices have ebbed off the overnight highs after the break above $2,000/oz.
  • The gap lower across UBS shares has been almost wholly reversed, trimming the downside from as much 16% to just 4% at pixel time.
  • ECB's Lagarde and Centeno are next on the docket - with data releases few and far between. The ECB President appears in front of the European Parliament in just over an hour's time at 1400GMT / 1000ET.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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