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26th Feb 2021. 7.47am

Regency View:

Morning Report – Friday 26th February

FTSE to open at 6,575 (-76 pts)

The relationship between the stock market and the bond market is far from black and white.

Under normal market conditions, falling bond prices (rising bond yields) is a bullish sign for equities as it indicates that investors are seeking risk. However, this week’s rout in the US bond market has ricocheted into equities…

The 10yr yield on US government bonds jumped nearly 10% yesterday as bond traders factor in the flood of incoming stimulus from the Fed and US congress. The sharp rise in bond yields has started to spook equity markets and the S&P 500 closed down 2.5% during yesterday’s session.

This bearish sentiment has followed through overnight and the Hang Seng is down more than 3%.

S&P 500-2.5%Bearish for UK stocks
Hang Seng-3.26%Bearish for UK stocks
Gold-0.61%Bullish for UK stocks
AUD/JPY-0.63Bearish for UK stocks
US 10yr Yield+9.3%Bearish for UK stocks
Regency Risk Barometer Snapshot

The FTSE has had a frustrating week with Wednesday’s gains being completely erased on Thursday and the market is now trading back at key support.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Ab Ignitis. S (IGN)
Afarak Group (AFRK)
Avation (AVAP)
Essentra (ESNT)
Glenveagh (GLV)
Jupiter Fund Management (JUP)
Man (EMG)
Rightmove (RMV)
Electrica Regs (ELSA)
Vr Education H. (VRE)
Interim Results
Jupiter European Opportunities Trust (JEO)
UK Economic Announcements
(07:00) Nationwide House Price Index
International Economic Announcements
(07:00) Import Price Index (GER)
(13:30) Personal Consumption Expenditures (US)
(13:30) Personal Income (US)
(13:30) Personal Spending (US)
(14:45) Chicago PMI (US)
(15:00) U. of Michigan Confidence (US)
Today’s Financial Diary

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This research is prepared for general information only and should not be construed as any form of investment advice.