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US Equities at new record highs

CROSS ASSET
  • The Dollar is mainly on the back foot in early trade, with Yen leading as US Yields move lower going into the European session, with some spill overs into US Rate futures, SFR bid, as Tnotes test session high, helped earlier by a large block trade buyer in US 10yr (TYH4).
  • Equities are also playing their part with a relentless bid so far this Year, Emini (ESH4) has gained 3.46% in the past 5 session, or 4.43% from the January low, now at a new contract record high.
  • Next immediate resistance in ESH4 is at 4915.11 1.236 proj of Nov 10 - Dec 1 - 7 price swing.
  • AUD is surprisingly the small worst performer, but stays well within that flagged LARGE option expiry for today, with 6.7bn between 0.6565/0.6630.

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