Quarterly Outlook
Fixed Income Outlook: Bonds Hit Reset. A New Equilibrium Emerges
Althea Spinozzi
Head of Fixed Income Strategy
Technical Analyst, Saxo Bank
CAC40 jumped higher to be rejected at the resistance at around 6,792 forming a top and reversal pattern (Opening Black Marubozu). If CAC40 slides back to close below 6,641 the top and reversal has been confirmed and CAC could drop to 6,400-6,300 with support at 6,522.
For CAC40 to extend the uptrend a close above 6,792 is needed.