Free Trial

Equities are hit on the cash open

CROSS ASSET
  • UBS shares are opening down with Soc Gen, and this has triggered some selling in Estoxx futures dropping 40 points on the cash open.
  • Bank stocks (SX7E) gaped nearly 100 points lower from 100.58 to 99.50.
  • The move has triggered Safe haven flows going through in Govies hitting session highs, but EGBs have retraced from their highs, following the Services PMI beat.
  • USDJPY moves to session low, given the risk off tone and in turn lower Yield.
  • Besides against the Yen, the USD is up across G10s.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.