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EU and US Equities diverge

CROSS ASSET
  • Estoxx futures is so far finding some support ahead of 4168 level, and below the latter would see next support further out to 4125.30 (20day EMA).
  • Although Emini was trading inline with the Estoxx on the EU cash open, the US ESZ3 contract still holds onto its overnight gains, still up 8 points vs VGZ3 now down 16 points.
  • US Govies are seeing some buying off the lows as the US joined the session.

Chart source: MNI/Bloomberg.

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