Halister News

(Bloomberg) -- Expiration of bearish seasonals this month and “two trips into overbought territory” in April and May have left medium-term technical setup mixed, and weekly and monthly momentum is “now at a tipping point as well,” JPMorgan technical strategist Jason Hunter says in May 22 note.

• “The recent price action has not been enough to completely derail the 2017 bear market outlook, but has pushed the view back on its heels to the point where we need to keep an open mind and watch for further price action” before committing to a different forecast
• With TY dollar-weighted put/call ratio “already trading near extreme overbought territory,” the 2.135%-2.15% yield zone is key for UST 10Y
• Sustained closes below the 200-DMA would confirm shifts in the momentum models, setting up 1.88%-2% as next resistance
• “Positions are much cleaner than they were earlier this year, leaving plenty of room for the pendulum to swing in either direction”

To contact the reporter on this story: Elizabeth Stanton in New York at estanton@bloomberg.net To contact the editors responsible for this story: Boris Korby at bkorby1@bloomberg.net Greg Chang, Elizabeth Stanton

Economic Release Details: {HBBRANN Index ECOD} --BALAZS PENZ

(Bloomberg) -- Net errors and omissions in current account data used to launder money, Turkey’s main opposition CHP leader Kemal Kilicdaroglu says, speaking at CHP lawmakers at parliament in Ankara.

• Kilicdaroglu accuses govt of turning blind eye to attacks of Islamic State that killed hundreds of people before moving against it last August
• Kilicdaroglu accuses govt of jailing 221,607 people in a “counter-coup” following last July’s botched putsch
• More than 150 journalists remain jailed, Turkey “world’s biggest jailer of journalists”
• No separation of powers left in Turkey; Turkish democracy in oxygen tent
• NOTE: Net errors & omissions inflows to Turkey were $11.1b in 2016, according to central bank data. They turned negative in 1Q, posting outflows of $2.17b