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Market Roundup:

US TSYS
Volatile overnight session evidenced by overnight trade -- gap move potential over headlines on Russia/Ukraine developments continues to keep markets on their toes (See 0749ET and 0850ET bullets).
  • US/Allies disagree with reports of Russia troop withdrawals, wary of "false flag" operations. Russia expels US Deputy Ambassador while TASS reports Russia Pres Putin has launched a series of meetings to prepare a message to the parliament.
  • Twitter speculation on latter: It could be linked to the option for Putin to recognize Luhansk and Donetsk or the general escalation in Donbas. He will either pressure Ukraine on Minsk 2 or further escalate.
  • FI markets extended gains after higher than forecasted weekly claims (+248k vs. +218k est). Equities currently trading softer but off lows: SPX eminis -26 at 4444.0, Gold surging higher +19.35, WTI crude weaker -1.32 at 92.34. US$ index DXY little firmer +.086 to 95.787.
  • Technicals: Treasuries saw early support overnight, boosting prices back toward Monday's highs, which remain the first upside target at 126-25+. Nonetheless, rallies remain shallow, keeping the focus pointed lower for now.
    • Price trades in close proximity to recent lows of 125-17+ where a break would confirm a resumption of the current downtrend. Scope is seen for a move to 125-06+ next, 30 May 2019 low (cont).
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