Free Trial
AUDUSD TECHS

Pierces Key Resistance Points

EUROZONE ISSUANCE

EGB Supply W/C 7 November, 2022

EQUITY TECHS

E-MINI S&P (Z2): Trading Above Last Week’s Low

EUROZONE T-BILL ISSUANCE

W/C 7 November, 2022

EURJPY TECHS

Sights Are On Key Resistance

BTP TECHS

BTP TECHS: (Z2) Trading Closer To Its Recent Lows

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

S&P E-minis Sit Shy Of Next Resistance As Real Yield Decline Pauses

STOCKS
  • ESZ2 hit session highs of 3802.5 following softer than expected JOLTS openings and has held close to it ever since with real yields moving off session lows.
  • It hovers further below next resistance at the 20-day EMA of 3816.53 following an extension of the important short-term reversal after yesterday’s candle pattern was a bullish engulfing line.
  • As has been the case for some time, US real yields continue to dominate, with the 10Y real is -7bps for -30bp over two days in a sharp reversal of a similarly sized climb late last week.
  • SPX is up 2.7%, led by energy (+4.0%), financials (+3.5%) and materials (+3.5%) with consumer staples (+1.1%) and real estate (+1.4%) lagging. NASDAQ sees modest outperformance with +3.1%.


ESZ2 (white) and inverted US 10Y real yield (yellow)Source: Bloomberg

151 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.
  • ESZ2 hit session highs of 3802.5 following softer than expected JOLTS openings and has held close to it ever since with real yields moving off session lows.
  • It hovers further below next resistance at the 20-day EMA of 3816.53 following an extension of the important short-term reversal after yesterday’s candle pattern was a bullish engulfing line.
  • As has been the case for some time, US real yields continue to dominate, with the 10Y real is -7bps for -30bp over two days in a sharp reversal of a similarly sized climb late last week.
  • SPX is up 2.7%, led by energy (+4.0%), financials (+3.5%) and materials (+3.5%) with consumer staples (+1.1%) and real estate (+1.4%) lagging. NASDAQ sees modest outperformance with +3.1%.


ESZ2 (white) and inverted US 10Y real yield (yellow)Source: Bloomberg