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S&P resilient while Bund,Gilt yields continue advance, GBPUSD pressing higher

Ahead of today's Durable Goods, we see US Futures fractionally positive coinciding with Europe also up a small amount, but being led by Italy, Spain which are up more than 1.2% completely recouping what was lost yesterday-  What's interesting technically is the continued rise in Bund yields along with Gilts, which have just broken out, and GBPUSD also moving to the highest levels since mid-February.  Important given the tendency for US TY yields to follow suit and therefore continue to prop up sectors like Financials which are likely to outperform as Yields move higher while Utilities and REITS underperform.   The US Dollar index is mildly lower overall today while Energy is bouncing.. and Metals showing losses for now.  Copper down another 1%, and frontrunning its normal May decline after peaking right near March highs last Friday.  Early gainers in SC, SEED, PETX, EXEL, NXPI, and TMUS while on the downside- SRPT, DRRX, CPXX and DDD.  S&P remains pretty resilient after 2 straight days of lifting meaningfully off early lows   and until there's evidence of 2071 being breached, its right to stay positive and expect that indices might be able to push up and test highs into end of week before any stalling out-  Quite a few indices and sectors up near former highs and the risk/reward is certainly not as great technically at current levels, but we continue to see just very little signs of any weakness, and that is notable and for now, doesn't pay to fight-   Other earnings beats this am:  BEAV, IR, COH while GLW, RAI, WHR, LLY, WDR showed MISSES.   Key for S&P FUT today 2091-2, then 2100-5 while strong support at 2071

Minor slowdown in trend, but no signs of any real weakness, and more of just a flattening thus far, with the last two days having closed meaningfully up off early lows

Bund yields rising which in turn are helping US TY YIELDS also stay strong, & 2 yr in particular pushing up back above .855 bps this am-  Movement up to 31-33 looks likely with a move over that leading to a real RIP in yields.  All of this "should" be beneficial towards Financials, even after the bounce, with resistance for XLF up near 24-24.10

BREXIT or no?  Huge short interest now in Pound sterling while today is showing "Cable" rising to the highest levels since mid-Feb-  This area just north of 1.455 does look to have importance, but given the Bets on BREXIT., this could definitely keep going technically in the short term

UK Gilt ylds also joining the party as they press higher, and above 1.60 is a minor breakout here as well-  So Bunds, Gilts, TY yields among others have definitely been steadily strengthening in recent days