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COMMODITIES

Is The Rally on Copper Over?

EGB OPTIONS

Bund July Call Buyer

GILT AUCTION RESULTS

DMO sells GBP2bln of the 1.25% Jul-51 Gilt

MNI EXCLUSIVE

Timeline For Approval Of Plans On NGEU Aid

COMMODITIES

WTI, Brent Circling Below Cycle Highs

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  • After an impressive open for US equity markets (volumes surged in futures markets to the highest level since late January), markets were met with sizeable dip-buying, which helped spare the NASDAQ and broader US equity indices from further pronounced losses.
  • At the open, the TICK Index detected what looked like the biggest equity selling program in decades, with 2,069 names sold. This coincided with new one-month lows of 4103.75, but a decent recovery in Tech giants including Tesla, Amazon, Facebook and others limited downside.
  • Instead, the Dow Jones was Tuesday's underperformer, with energy the weakest sector alongside industrials and financials.
  • S&P 500 heads into the close lower by 0.9%, the Dow Jones lower by 1.4%, while the NASDAQ has limited losses to 0.3%.