The break lower in crude oil last week is weighing on the market, likely keeping US breakeven rates capped. While WTI crude turned lower from the psychological hurdle near $100, US 10yr breakevens are also struggling to break through multi year highs for the time being. The CAC 40 is also posting a bearish divergence warning ahead of its 2012 peak though Spanish 10yr yields continue to respond in a positive manner, holding beneath the breakdown levels of early September.
Click here to read the full report: Technical Research
Barclays Capital