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EUROSTOXX50 TECHS

Key Resistance Holding

BTP TECHS

(M1) Bearish Risk

GILT TECHS

(M1) 129.27 Resistance Holding

SCHATZ TECHS

(M1) Consolidating

BOBL TECHS

(M1) Bearish Focus

BUND TECHS

(M1) Bearish Engulfing Still In Play

US TSY FLOWS
US TSY FLOWS: Sharp risk-off move Friday, kicked off late Thursday on US Pres
Trump threatened Mexico with massive tariff increase. Heavy volume, Sep takes
lead quarterly (TYU>2.99M). 10Y yld -.0818 at 2.1315, Sep 2017 lows. FI implied
vols surged to new highs; VIX gained but pared/held range (+1.41 at 18.71 vs.
19.72H).
- Heavy risk-off/safe haven buying across curve, month end flow w/lrge late
sales. Jun19 Eurodollar futures gap bid to 97.55F early in second half, rate cut
crowd gathers momentum (Barclays call for 3 rate cuts by yr end/starting in fall
-- aggressive call!). Potential air pocket as traders pointed out just over 22k
EDM9 traded at 97.527 but some 17k traded from 97.53-97.55. Lead quarterly came
under heavy selling soon after (EDM9 +4.75 at 97.532C). 
- Aside from mentioning negative aspect of increased Mexico tariffs on US
economy, Fed Kashkari also touched upon curve..."might be signaling Fed is
slightly restrictive".
- The 2-Yr yield is down 13.9bps at 1.9221%, 5-Yr is down 10.6bps at 1.9143%,
10-Yr is down 8.4bps at 2.1298%, and 30-Yr is down 7bps at 2.57%.
MNI Chicago Bureau | +1 312-431-0089 | bill.sokolis@marketnews.com