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MNI EXCLUSIVE

Misra On US Treasury Market And Fed QT

MEXICO

BBVA Say All Eyes On Tightening Cycle End Hints

BONDS

EGB/Gilt - Big spikes across the board

US TSY OPTIONS

Bullish Trade, Underlying Plows Higher

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GOLD
GOLD: Gold benefitted from the safe haven bid as US President Trump ordered the
US Trade Rep to identify an additional $200bln in Chinese goods for tariffs at a
rate of 10%, this is a larger nominal amount than had been expected. A second
bout of risk off flows hit after China vowed to take strong countermeasures if
the US issues a new sanctions list.
- The $1310.5 resistance reconfirmed significance with the pop above the 200-DMA
($1305.7) lacking follow through. Friday's sell-off resulted in 2018 lows with
immediate pressure on the 100-WMA. Bears need a close below the 100-WMA to add
weight to the case for a test of the 200-WMA. Bulls need a close above $1286.2
to gain breathing room and above the 21-DMA to return pressure to $1310.5.

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