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Equities are extending gains

CROSS ASSET
  • Further upside traction in Equity futures on both sides of the Pond, helps provide another underlying bid in Bund and Tnotes.
  • After seeing a small push lower post the US ADP miss, which was likely some intraday profit taking, Bonds are again underpinned.
  • The Estoxx (VGM4) is eyeing the next immediate resistance right here at 5047.00.
  • The EU Tech Sector (SX8P) still leads in Europe, but resistance is seen further out, up to 889.84, the March high and the highest print since 2000, now trading at 875.68.
  • For the US Emini (ESM4), the target is at 5338.75, now trading at 5324.00.
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  • Further upside traction in Equity futures on both sides of the Pond, helps provide another underlying bid in Bund and Tnotes.
  • After seeing a small push lower post the US ADP miss, which was likely some intraday profit taking, Bonds are again underpinned.
  • The Estoxx (VGM4) is eyeing the next immediate resistance right here at 5047.00.
  • The EU Tech Sector (SX8P) still leads in Europe, but resistance is seen further out, up to 889.84, the March high and the highest print since 2000, now trading at 875.68.
  • For the US Emini (ESM4), the target is at 5338.75, now trading at 5324.00.