Trial now
BRENT TECHS

(Q1) Bull Trend Conditions Remain Intact

EUROZONE ISSUANCE

EGB supply for W/C 21 June, 2021 (2/2)

RATINGS

A Thin Sovereign Rating Slate

EQUITY TECHS

E-MINI S&P (U1): Fresh All-Time High

EUROZONE ISSUANCE

EGB supply for W/C 21 June, 2021 (1/2)

EUROZONE T-BILL ISSUANCE

Bill Supply For W/C Jun 14, 2021

CABLE
CABLE: Sterling outperformed Thursday, in the wake of the BoE's MonPol decision
& inflation report. The Bank voted unanimously to stand pat on its MonPol
settings, as expected, revising its near-term GDP and inflation forecasts lower
(although kept longer-term forecasts near-unchanged), before warning that rates
could rise even if the UK goes through a disruptive no deal Brexit, ultimately
lending some support to GBP after the initial hit on the economic forecast
revisions. Sharp bounce back from initial react lows of $1.2854 saw rate touch a
high of $1.2996 before it drifted off through the NY afternoon to $1.2947 into
the close. This pullback was seen in part driven by a lack of optimism on the
Brexit front. UK PM May went to Brussels and some reports suggest she asked EU
officials to implement a time limit on the Irish backstop, with the EU
consistently opposing a renegotiation of the current deal. Juncker and May will
meet again later this month. PM May visits Ireland today. Telegraph headline
Wednesday was 'PM May in Irish Border Dash' and keeps flashing up in my mind.
Cable support $1.2942(Asia low, 38.2% $1.2854-1.2996), break to expose $1.2925
ahead of $1.2910/00. Resistance remains into $1.3000.  
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com