Observations + Charts
Europe and US futures are extending their gains.
Asia mostly higher on course for their biggest daily gain since July thanks to Japan.
China mixed with Mainland markets again struggling (amid underwhelming holiday spending and Country Garden dev.) while HK higher.
NKY outperforming and closed on a 5d high. 2sigma move. Biggest gains since Jan23.
KOSPI up early trading helped by chipmakers on the back of the Samsung Electronics/SK Hynix news.
Pro-risk bias. Europe is trading higher post Columbus Day w/US yields trading softer across the curve.
EU High SI basket seeing atypical move w/biggest jump since Jul23. High growth basket same.
All sectors in green ex-Energy. Real Estate, Travel&Leisure (+EZJ comments) and Auto&parts leading so far.
EU Quality basket is taking a breather after 6d of consecutive gains.. Only 2/13 last days were in red.
Bank of Italy warns Meloni to exercise extreme prudence on fiscal policy amid worries over impact of higher rates.
Watch out the DXY trying to break the LT channel. Brent flat. US nat gas is also flat but prices are spiking another 6% in Europe. Copper -65bp. Bitcoin +30bp while gold -20bps.
US futures higher w/ESZ3 +9.25, HIWZ3 +36.25, RTYZ3 +7.80 and NQZ3 +34.00.