Volume in E-mini S&P 500 contracts rose 12% above average, a possible signal of accumulation by long-term funds. Market profile charts point to strong acceptance zones near 5, ECB Governing Council member Wunsch stated that ECB policymakers have found the "perfect calibration" for interest rates and policy settings, which are appropriate to ensure that consumer prices rise in line with the 2% target in the medium term. The derived block functionality continues to gain significant adoption across an array of clients across asset managers, sovereign wealth funds, pension funds and hedge funds. Year to date, we've seen over $22.5B notional traded in derived blocks on Sector futures ($17.5B notional) and the new futures ($5.5B) brought into scope for the derived block eligibility expansion . Risk sentiment improved in E-mini futures overnight as Asian equity rallies spilled into U.S. markets. Positive PMI readings in Europe further bolstered S&P 500 contract sentiment ahead of New York open.
