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Equities and Bonds are seeing upside continuation

CROSS ASSET
  • US Emini extends gains since IJC was slightly worst than expected, but still fairly close to median expectation, combined with the small lower revision in PCE
  • ESH4 rallies towards 5100.00 and the Emini's contract high is at 5123.50.
  • EU and US Govies were kept under pressure throughout the early morning European session following European CPIs, but markets are now seeing some profit taking, and short cover following the US data.
  • Bund is bought in over 6k and Bobl 5k on the bounce.
  • US MNI Chicago PMI is still due in 45 minutes.

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