Technical Analysis

The AUD is the strongest and the JPY is the weakest as NA traders enter for the day

The USD is mixed

Washington seems to have unclogged the debt limit issues with Sen. McConnell floating a December extension, but with some caveats including attaching a specific new debt ceiling that the extension will require. Nevertheless, the easing of the threat that the US would default has led to a more favorable US stock market.  Lower energy prices are also helping. Us yields are up after yesterday’s up and down range (ended lower at the longer end).  

Looking at other markets:

  • Spot gold is near unchanged levels at $1762.40
  • Spot sliver is up $0.15 or 0.67% at $22.74
  • WTI crude oil is down -$1.31 or -1.67% at $76.12
  • Bitcoin  is down about -$100 at $54311.

In the premarket for US stocks, the major indices are higher after yesterday’s down and up day that saw the major indices erase loses of -1.20% or so,  and close higher (by 0.3% to 0.47% for the major indices). The futures implied open suggests:

  • Dow industrial average up at 315 points after yesterday’s 102.32 point gain
  • S&P index S&P index up 42 points after yesterday’s 17.85 point gain
  • NASDAQ index up 181 points after yesterday’s 68.08 point gain

In the European equity markets:

  • German Dax, +1.3%
  • France’s CAC +1.4%
  • UK FTSE 100 +1.1%
  • Spain’s Ibex +2.0%
  • Italy’s FTSE MIB +1.3%

IN the US debt market, the yields are higher across the board with the 30 year up 2.0 basis points. The five year yield is pushing the 1.0% level again at 0.9975%

US yields are higher

In benchmark 10 year yields in Europe are trading mostly lower with the UK 10 year the exception near unchanged.

European benchmark yields are lower Sorry for the delay. Something is acting wonky with my computer.

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