E-Minis Nudge Lower On Chinese/HK Lead

Weakness in the Chinese tech space is applying some light pressure to e-minis as the Asia-Pac session wears on, with the 3 major e-mini futures now sitting 0.2-0.3% lower, the NASDAQ 100 leads the cheapening there. There wasn’t much reaction in e-minis to First Republic’s earnings, published after hours on Monday. A quick reminder that the bank revealed a sharper than expected round of deposit outflows during the well-documented tumult that got underway in March, although it noted the situation has stabilised in recent weeks. It also removed previous guidance, chose not to answer any questions on its earnings call and disclosed that it is pursuing “strategic options” re: the shape of the firm going forwards.