Sales remain steady on the European stock exchanges, at a similar pace on the Euronext Athens.
Manna from heaven for the more short-term players is the partial change in trend in the New York futures market.
Despite the "hammering" in government bonds, the new rise to record levels in the last hour, the discount of S&P500 futures has "turned" into a premium. From 7,649 to 7,711 points and up 0.77% earlier (at 14.45').
At 5.34% the US 10-year, at a 24-year high, however for traders the bet is being placed on the possibility of a reaction/upward correction. From 13.30'-13.45' (Greece time) it appears that in the session to follow on Wall Street an attempt will be made to price in economic data supportive of this possibility. This is a clearly short-term approach, specifically for today-tomorrow, taking advantage of the possible fluctuation range (volatility) that may be formed.
Change in trend (on the purely intraday/trading level) which in Frankfurt, Paris was reflected in the noticeable reduction of the previous large losses. At 25,125 from 24,482 points the DAX, at 7,896 from 7,820 the CAC40, and at 304.95 from 300.59 points the EuroStoxx Banks.
It is precisely this attempt at an upward correction, over a short-term duration, that traders are trying to exploit mainly in the banking sector.
At 3,290 from 3,232 points the DTR, steadily in negative territory from the start of the session until earlier. More specifically, up to 4.88 from 4.792 euros for the Eurobank share, up to 17.595 from 17 for National Bank, up to 10.855 from 10.54 for Piraeus and up to 4.822 from 4.712 euros for Alpha Bank.
In the four systemic stocks the more active presence of "fast money", with transactions of more than 25 million shares out of a total of 31.8 million shares.
At 250 million euros the value of transactions, with 44.5 million through pre-agreed orders, with the most significant in bank shares and specifically blue chips (GEK TERNA, PPC) while orders in KRI KRI of a total value of three million euros also made an impression.
Partly improved is the trend, compared with the first hour, as PPC, Aktor, ElvalHalcor, EYDAP, Viohalco were added to Allwyn, Jumbo with buyers having the upper hand. In fact, in the case of Allwyn buy orders reached as much as 2.04% higher, at 11.64 euros and up to 25.12 (1.06%) for the Jumbo share.
At 39/78 the ratio of stocks with a positive/negative sign, shortly after 15.00' from just 19/74 at the start of the session.