ENIx2, VARx2, OMV: EU Energy Sector Specialist Commentary Oil - O‘G‘s - Utilities - Infrastructure

研报英文原文证据摘录

ENIx2, VARx2, OMV: EU Energy Sector Specialist Commentary Oil - O‘G‘s - Utilities - Infrastructure

aws likely through the end of the month before Jul trade cycle dynamics come into play as

fixers for this draw rate (rapidly reduced exports, regional price differentials solving to keep bbls at the pricing hub, etc.).

Markets - SPX was down 1.3% from the European close which was basically the move on the day (7,420). The index traded

around unchanged until the hawkish FOMC led to a sell off into the close. L/S momentum +4% and Software vs Semis -5%.

Overall volumes tracked 16% above 30 dma as VIX and USD rallied as treasuries sold off. Communication services, consumer

discretionary and real estate were the worst sectors with tech, financials and industrials the relative outperformers. JPM cash was

better for sale with industrials, consumer discretionary and communication services leading the skew. Tech, financials and

materials were better to buy. The press is looking at US/Iran MoU, US rates and G7 putting a cap on Chinese rare earth imports.

Overnight USD has remained bid, treasuries have steadied and commodities are lower. Today in US we have jobless claims and

Leading index. In Europe we have UK jobs report, rate decisions from BOE, SNB and Norway. Asia markets are mixed with HK,

China and Australia underperforming. Tech is leading the way in Korea and Japan. Taiwanese healthcare is also strong. Our flow

is better to sell, on inline volumes with Korea leading the skew. Japan, Taiwan and HK are better to buy. In the sectors we are

selling tech, materials and consumer discretionary versus buying industrials, financials and communication services.

MOVES VS YESTERDAY'S EUROPEAN CLOSE; S&P minis -57bps, Nasdaq minis -29bps, Nikkei fut +75bps, FTSE futs -