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Fresh Session Lows For E-Minis On Latest PBoC Inaction

EQUITIES

Fresh session lows observed for the 3 major e-mini contracts, with NASDAQ 100 underperformance still evident post-Netflix earnings. The latest leg lower has taken place on the back of the PBoC’s LPR fixings being set at unchanged levels. As we noted ahead of the LPR fixings, the BBG consensus looked for 5bp cuts to both the 1- & 5-Year LPRs, although the limited PBoC easing observed at the backend of last week indicated a risk of no change in today’s fixings.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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