May 17, 2024 08:19 GMT
EGBs keep the pressure on Treasuries, Dollar goes bid
CROSS ASSET
- US Treasuries are starting to get dragged lower by Germany and French OATs, which are leading EGBs lower.
- Volumes are still fairly subdued, support in OAT is seen towards 126.21, while Bund will be seen below the figure circa 130.70.
- TYM4 still needs at test to ~109.09 to reverse the US CPI, retail sales, average earning's gain.
- The Dollar now tests session high against GBP, EUR, AUD, CHF, CZK, ZAR, SEK, CAD, CHF, ILS, NZD, JPY.
- The move is helped as Tnotes makes an attempt at reversing the CPI rally, with EGBs weighing, as investors discount ECB cuts post June meeting.
- Equities have seen some small spill overs, Estoxx and Emini retrace lower to their session lows.
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