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SHORT-STERLING OPTIONS

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GILT SUMMARY

Gradual Grind Lower

US 10YR FUTURE TECHS

‌‌(U1)‌‌ Corrective Pullback

Headlines Light, Rebalancing Flows Eyed

EQUITIES

A lack of headline flow and continued focus on the fiscal situation in DC made for a limited round of Asia-Pac trading on Friday, with the major regional indices unchanged to a touch lower.

  • The ASX 200 underperformed vs. its major regional benchmarks as the financial and energy sectors struggled.
  • E-minis also nudged lower against the headline-light backdrop.
  • Month-, quarter- and year-end portfolio rebalancing flows are also be eyed and are seen as equity negative/bond positive. Note that these flows may be even more sporadic than normal, given the upcoming holiday schedule.
  • Nikkei 225 -0.1%, Hang Seng -0.7%, CSI 300 unch., ASX 200 -0.9%.
  • S&P 500 futures -6, DJIA futures -69, NASDAQ 100 futures -24.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com