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GILT AUCTION RESULTS

New 1.00% Jan-32

EQUITIES

Stoxx600 closes Friday/Monday's gap

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  • RES 3: 99.927 - All time High Nov 3 and the bull trigger (cont)
  • RES 2: 99.860 - High Jun 14 (cont)
  • RES 1: 99.795 - High Aug 20 cont)
  • PRICE: 98.680 @ 15:32 BST Oct 28
  • SUP 1: 98.570 - Low Oct 28
  • SUP 2: 98.768 - 50.0% 2018 - 2020 Range
  • SUP 3: 98.510 - 61.8% 2018 - 2020 Range

Weakness in global short-end rates markets accelerated Thursday, prompting new lows for the Dec-21 Aussie 3yr future. This put prices through the 50% retracement of the 2018-2020 range, prompting a further deterioration in the outlook. This clears the way for support at 98.510, the 61.8% retracement of the 2018-2020 range. The outlook remains resolutely bearish.