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Free AccessMove Away From Highs Extends A Little Further
The move away from session highs has extended further, futures -13 at 99.72.
- Bears briefly pushed futures through Tuesday & Friday lows, but the move lacked traction, leaving initial support at the 20-day EMA (99.48) untouched, lows of 99.65 printed.
- Yields 1-2bp higher across the curve, light bear flattening.
- There are no conclusive drivers for the latest, contained leg lower, but contributary factors may have included:
- An uptick for European equity indices
- Oil futures moving off lows, although they operate well below Friday’s highs
- Spill over from a move lower in Tsys, perhaps driven by swelling $IG supply.
- Thinner summer markets.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.