Mixed Bag in StocksPosted 05/28/2019 10:58AM CT |
Global equity markets were largely mixed in the overnight with small gains across Asia and weakness in Europe, most notably in Italy with the MIB index down another -1.1% and down -17.3% year over year with Italian 10YR up another +5bps and +13bps in the last month, indicating sovereign credit risk developing. With renewed concerns involving increasing Italian debt, uncertainty in the UK, and no respite between the U.S. and China with President Trump stating on Monday that Washington was not yet ready to make a deal,’ investor sentiment has been underpinned. The June S&P is trading at a lower high with the current range seen between 2803 – 2868 after dropping back to bearish trend last week with the trendline seen at 2831.
E-Mini S&P 500 Jun ’19 Daily Chart