Morning 10-25

FYI  Europe falls back an Hour this weekend

Brexit Update:

 EU will decide next week on length of Brexit extension, PM Johnson wants a new election called, opposition says no new elections unless no deal Brexit is ruled out

Earnings:

  • Amazon missed earnings due the Cost of One  day delivery service, and boosting capacity for Cloud computing services  stock -~6%
  • Intel better than expected Earnings and importantly they indicated not too worried about trade issues  Stock Higher pre market

 Overnight Treasury Commentary from IFR

  • Despite Chunky Buying Market Remains Well Offered in Range, Curve Steepening, and Spread Widening on Long-end Weakness Seen as Parlaying Fed Rate-cut and Duration Heavy Refunding, Very Quiet Overnight Session Expected to See the Same Stateside. Another piece of narrative  A line from Bloomberg Story this Morning  “The Treasury Yield curve will keep on steepening and trading ranges will shrink if Derivatives are any guide: 

Markets:

European yields a bit higher this morning as German IFO, Business climate survey was marginally better than Expected and enough to weigh on bunds Gilt yields a touch higher also weighing a bit on Bunds. European Bourses a bit heavy FTSE -.6%, Dax -.25% Spoos  and Nasdaq Unchanged .Nothing on the calendar to excite markets today, next week is filled to the brim with Economic data , Fed ,BOJ rate decisions. Market psyche today is to sit on hands and wait for next week’s action

 Silver +2.25%  A bit of a technical breakout providing the bid, Gold +.5% it too  trying to breakout to upside Copper back to her old ways of doing nothing after a bit of excitement earlier this week on Mine Stoppage. Oil unchanged as is Nat Gas a summer type Friday Feel in late October

 Lower level U.S. China trade talks to take place today and per Reuters China to ask U.S. to remove tariffs in exchange for agri purchases in talks Friday

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.