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EGBS: Bunds Rally To Intraday Highs Post ASML Earnings

EGBS
EurozoneBulletGlobalFixed Income BulletsRegionMarkets

Bund futures reached a fresh intraday high of 133.79 after the sharp ASML-driven pullback in European equities, currently +60 at 133.74. The 50-day EMA at 133.84 remains untested today.

  • Euribor futures are +1.5 to +8.5 ticks through the blues, having largely tracked core FI through the session.
  • Near-term ECB pricing is little changed ahead of Thursday’s meeting, where a 25bp cut is unanimously expected and essentially fully priced in OIS.
  • There are 48bps of ECB cuts priced through year-end and 133bps through the June ’25 meeting (vs 131bps this morning).
  • MNI’s ECB preview is here: https://mni.marketnews.com/3BMdOKb
  • A note on ASML: The press release originally containing the Q3 results was dated October 16 (tomorrow) and appears to have been removed from the website, suggesting the (early) release may have been unintentional.

 

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Bund futures reached a fresh intraday high of 133.79 after the sharp ASML-driven pullback in European equities, currently +60 at 133.74. The 50-day EMA at 133.84 remains untested today.

  • Euribor futures are +1.5 to +8.5 ticks through the blues, having largely tracked core FI through the session.
  • Near-term ECB pricing is little changed ahead of Thursday’s meeting, where a 25bp cut is unanimously expected and essentially fully priced in OIS.
  • There are 48bps of ECB cuts priced through year-end and 133bps through the June ’25 meeting (vs 131bps this morning).
  • MNI’s ECB preview is here: https://mni.marketnews.com/3BMdOKb
  • A note on ASML: The press release originally containing the Q3 results was dated October 16 (tomorrow) and appears to have been removed from the website, suggesting the (early) release may have been unintentional.

 

Keep reading...Show less