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MNI EUROPEAN MARKETS ANALYSIS: EU Model Suggests Low Recession Risk, UK Election/US July 4 Holiday Ahead

  • News flow has been light today, with focus remaining on Biden's election prospects and whether he will stay in the race. A group of Democrat Governors backed the President, but a Bloomberg story stated some Democrat Senators have expressed doubts.
  • Early USD impetus was to the downside but there has been little follow through. Treasury futures are little changed today, with cash trading closed for the July 4th Holiday. JGB futures are stronger, after today’s 30-year supply.
  • Later the ECB’s Lane and Cipollone speak and the minutes from the June 5-6 meeting are published. The UK election is also held. German May factory orders print.

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  • News flow has been light today, with focus remaining on Biden's election prospects and whether he will stay in the race. A group of Democrat Governors backed the President, but a Bloomberg story stated some Democrat Senators have expressed doubts.
  • Early USD impetus was to the downside but there has been little follow through. Treasury futures are little changed today, with cash trading closed for the July 4th Holiday. JGB futures are stronger, after today’s 30-year supply.
  • Later the ECB’s Lane and Cipollone speak and the minutes from the June 5-6 meeting are published. The UK election is also held. German May factory orders print.

Keep reading...Show less