Another European Session draws to an end (for me, at least!)

It's been very much a 'fill the void' session for assets, with seemingly all assets (ignoring crude) happy to take a breather from recent runs and retrace somewhat.


Oil prices inched higher before a meeting of OPEC+ producers to discuss a significant cut in crude output, with my dart landing on a cut closer to 2mbpd. But, as is the way on OPEC days, it's been a noisy rollercoaster.


Even PM Truss failed to kickstart any action in GBP, and given that it was a 'greatest hits' of comments she's said in the month since taking charge, that's not surprising.

Of note, data-wise, the US Mortgage Market Index fell 14.2% To 218.7 (Lowest Since 1997) - This makes for some pretty grim reading... However, in the age of 'bad data allows the Fed to pivot sooner', ie Bad Data is Good For Markets, this could be read as Risk On.