Market volumes were light with US out for Columbus Day, but . . . - ANZ

Analysts at ANZ noted that with most of the US out for Columbus Day, market volumes were light and activity confined to tight ranges.

Key Quotes:

"There was an absence of major data, but the USD maintained a slightly softer bias vs EUR and GBP throughout the European day.

The easier political climate in Europe over the weekend contributed to a more positive mood around European assets.

Pro-Spanish unity Catalonians marched en masse at the weekend whilst in the UK the reported challenge to UK PM May fizzled out, at least for now.

That more settled political tone was reflected in a narrowing in spreads vs bunds, with the Spanish 10-year yield off 3.4 bps at 1.66%. European bourses were also positive. The IBEX 35 was up 0.5%, the DAX rose 0.2% and the CAC 40 was up 0.1%.

The FTSE 100 fell 0.2%. US bourses were largely unchanged at the time of writing. Oil was a touch firmer with WTI up 0.7% at USD49.6/bbl and gold was firmer (+0.4%) at $1282/oz."