Free Trial

New Session Highs On First Republic Deposit Headlines

US STOCKS
  • ESA sees a modest bid with the Bloomberg headlines that First Republic poised to get ~$30B in deposits from banks (although Reuters saying roughly $20B) after earlier WSJ reporting a consortium of the largest US banks were discussing a joint rescue.
  • Holding most of the 15pt increase to new session highs of 1989.50 for +1.5% on the day.
  • The move helps push further above resistance at 3972.5 (Mar 14 high), opening the 50-day EMA of 4031.46. Continues to lag Nasdaq E-mini at +2.3% on the day.

To read the full story

Close

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.