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EURJPY TECHS

Off Recent Highs

USDJPY TECHS

Uptrend Remains Intact

GBPUSD TECHS

Back In Its Bull Channel

EURUSD TECHS

Bearish Engulfing Candle

EQUITIES

Stocks Bounce, But Still Off Last Week's Best

FOREX

Havens Offered as Risk Sentiment Repairs

Risk-On, Relief-Bill Hopium Driven

US TSY FUTURES

Tsy futures continue to extend session lows, equities on session highs (EDZ0 +42.0), not outright headline driven but reportedly over hopes of a economic relief bill as Tsy Sec Mnuchin and House Speaker Pelosi expected to have meeting around 1245ET to discuss (closed door). Early yld curve steepeners put on are winners now. Caution -- no deal on bill and risk-on tone sure to reverse sharply. Add to potential delivered vol are potential month/quarter-end imbalances. Update:

  • 3M10Y +5.513, 60.297 (L: 53.312 / H: 60.297)
  • 2Y10Y +4.897, 57.155 (L: 51.471 / H: 57.32)
  • 2Y30Y +6.727, 135.517 (L: 128.273 / H: 135.649)
  • 5Y30Y +4.468, 120.324 (L: 115.496 / H: 120.324)
  • Current futures levels:
  • Dec 2Y -0.5/32 at 110-15 (L: 110-14.875 / H: 110-15.75)
  • Dec 5Y -5/32 at 125-31.25 (L: 125-31.25 / H: 126-04.75)
  • Dec 10Y -13.5/32 at 139-11.5 (L: 139-11 / H: 139-25.5)
  • Dec 30Y -1-24/32 at 175-15 (L: 175-14 / H: 177-09)
  • Dec Ultra 30Y -3-13/32 at 220-13 (L: 220-10 / H: 223-17)
MNI Chicago Bureau | +1 312-431-0089 | bill.sokolis@marketnews.com