BOC SAYS DOESN'T NEED TO ALTER PATH OF QT RIGHT NOW

this is a test, please ignore

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EZ/UK T-Bill Calendar: Italy, UK Auction on Friday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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Equities Roundup: SPX Inside 12.0Pt Range

US STOCKS
  • Stocks trading marginally lower, holding inside a narrow range by midday: SPX Emini futures -4.50 at 4148.0, inside a 12.0 point range. Fairly resilient given the sell-off in Treasuries after April S&P Global PMIs came out much stronger than expected (MFG 40.4 vs. 49.0; Srvcs 53.7 vs. 51.5; Comp 53.5 vs. 51.2 est).
  • Stocks dipped after the data too, as the strong data renewed near end rate hike expectations, SPX quickly rebounded near early session high of 4158.75. Trading desks noted Amazon shares gained 3.3%, underpinning Consumer Discretionary sector.
  • The trend outlook in S&P E-minis remains bullish while the midweek move lower (from Tuesday’s high) is considered corrective. Support to watch lies at 4119.30, the 20-day EMA where a break is required to suggest scope for a deeper pullback - this would expose 4077.86, the 50-day EMA.
  • Attention is on the 4200.00 handle where a breach would resume the uptrend and open 4205.50, Feb 16 high ahead of 4244.00, the Feb 2 high and key resistance.
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