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Equities are extending gains

CROSS ASSET
  • Stoxx600 push higher, up 1.45% in early trade.
  • This week's high is situated at 411.77 and will be seen as initial resistance, now at 408.33.
  • There's been some reversals in Auto/Parts stocks, initially trading in the green on the cash open, but now the worst performers, down 1.53%.
  • Retail are still down 0.85%, but off their lows.
  • Estoxxx (VGU2) is also testing that Wednesday's gap to 3473.00.
  • Emini test session high on the follow.
  • Risk On tone, keeps the lid on the USD.
  • A full 167 ticks round trip for the Bund, and through the session low, on the back of risk, and likely some position covering.
  • Support in Bund is at 147.05.

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