Monthly Archives: October 2012

The MorningSnapshot- 10/01

S&P 500 futures are rising on the morning, indicating the equity markets should rally following its biggest weekly slump since June, and as investors await a report that is expected to show manufacturing contracted at a slower pace in September. Despite Euro area unemployment reaching a record high, the Euro Stoxx 50 advanced more than 1% on the day, led higher by Italy’s FTSE MIB and France’s CAC 40 up +1.59% and +1.35% respectively. Spanish and Italian yields declined, while German bunds are little changed. U.S. Treasuries are steady, with the front end of the curve continuing to test lower while the long end consolidates; the 10yr is consolidating around the converged support of the 50 day MA 1.65%, the 100 day MA 1.63%, and the 76.4% Fibonacci retracement of the early September rise at 1.62%. The EUR/USD is consolidating above its 200 day MA of $1.2824 despite investors’ concerns regarding Spain and economic growth in the region.