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  • European equity indices have been somewhat choppy within ranges printing a slightly mixed performance while US futures are contained but erring higher
  • DXY strengthens post-Powell to the detriment of peers though yields are steady but at comparatively elevated levels pre-NFP
  • Crude surges after the OPEC+ confab aided by forecast upgrades from a number of banks
  • China targets ’21 GDP growth of above 6% with CPI target ̴ 3% & budget deficit...
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  • Asia-Pac bourses extended on recent declines amid spillover selling from the US where tech took the brunt again and the bond rout persisted
  • Fed Chair Powell stuck to a dovish script and noted that that the current stance is appropriate which came as a disappointment for those awaiting commentary on SLR adjustments, YCC or operation twist
  • BoJ Governor Kuroda said the BoJ will likely debate whether to expand the implicit band for the 10yr JGB yield...
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  • European equity indices & US futures are negative with RTY the underperformer, -1.0%
  • DXY strengthens pre-Powell to the detriment of peers who reside predominantly negative
  • Crude has been tempered ahead of the OPEC+ confab whilst precious metals trade lacklustre
  • WHO said COVID infection rates have risen in Europe after six weeks of decline
  • Looking ahead, highlights include US IJC, Challenger Layoffs & Factory...
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  • Asian equity markets declined across the board as the region followed suit from the losses on Wall St
  • US tech stocks underperformed and sentiment was pressured by a resumption of rising yields
  • The DXY held on to most of yesterday's gains around 91.00, EUR/USD oscillated around 1.2150, GBP/USD remains sub-1.40
  • Fed's Evans said he does not expect the FOMC will need to change the duration of bond purchases and views the current increase in...
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  • European equity indices & US futures are firmer with RTY the outperformer, +1.2% & DAX cash printed record highs
  • DXY is choppy with peers mixed at present and USD/JPY nearing 107.00 while GBP is erring higher pre-budget (12:30GMT/07:30EST)
  • ECB sources state no need for drastic action to curb advances in yields, supressing core debt/elevating yields while UST yields bear-steepen
  • Crude has been bolstered by OPEC+ sources around no...
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  • An improved mood was observed in Asia as equity markets shrugged off the weak handover from Wall Street
  • Major US indices declined as tech lagged again with regulatory concerns also adding to the selling pressure
  • Chinese Caixin Services PMI printed its lowest reading since April last year
  • In FX, the DXY languished below 91.00, EUR/USD plateaued below 1.21 and GBP sits on a 1.39 handle ahead of the budget
  • OPEC+ is...
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  • European equity indices stabilise but US futures are softer with RTY the underperformer, -0.9%
  • The DXY has seen upside to the modest detriment of major peers, though off highs/lows respectively, while yields continue to consolidate
  • EZ CPI was as expected whilst Germany will reportedly extend its lockdown to March 29th
  • Crude remains underpinned ahead of OPEC+ but has drifted off lows while precious metals are somewhat...
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  • Asian equity markets whipsawed as risk momentum gradually waned despite the region initially taking impetus from the rally on Wall St
  • All major US indices notched substantial gains with the S&P 500 posting its best performance in almost nine months
  • The US will examine how the Treasury, Commerce Department and USTR can work together to deter currency intervention for trade advantages
  • In FX markets, the DXY extended on gains above 91.00,...
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  • European equity indices and US futures are firmer on the session with RTY the outperformer, +2.0%
  • DXY has seen upside & hovers around the 91.00 handle, with lower-yield peers underperforming while US 10yr yields stabilise
  • Johnson & Johnson's COVID-19 single-dose vaccine has received approval from US authorities
  • Chinese Official Manufacturing PMI and Caixin Manufacturing PMI missed expectations but remained in expansion...
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  • Asian equities saw a recovery from Friday's losses alongside a rebound in bond markets; US 10yr yield currently ~1.40%
  • Johnson & Johnson's COVID-19 single-dose vaccine has received approval from US authorities
  • Chinese Official Manufacturing PMI and Caixin Manufacturing PMI missed expectations but remained in expansion territory
  • In FX markets, the DXY sits circa 90.80, EUR/USD met resistance at 1.21 and GBP/USD eyes 1.40 to the upside...
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  • European equities pressured. US futures softer, but to a lesser extent; E-mini S&P -0.1%
  • DXY has seen upside and resides near best levels after surmounting 90.50, to the detriment of its broader peers
  • US President Biden's USD 15/hr minimum wage proposal was ruled out of order for the Senate relief bill
  • US Treasuries has already secured a foothold overnight; US 10yr yield steady below 1.5%
  • Looking ahead,...
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  • Asia-Pac stocks slumped after reacting to the sell-off on Wall St amid a global bond rout and surge in yields
  • Fed speakers once again provided very little pushback to the rising yield environment; US 10yr breached 1.6% yesterday
  • In FX markets, the DXY remains firmer but retreated marginally alongside the pullback in the US 10yr yield back below 1.5%
  • US Pentagon confirmed reports that the US conducted a strike on Iranian-backed militia in...
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  • European equity indices were firmer across the board but are now a touch mixed in-fitting with US equity futures where the NQ is underperforming, -0.9%
  • DXY has seen downside and resides at its lowest level just maintaining 89.70 to the benefit of its broader peers though JPY remains hindered given rate-differentials
  • US yields remain elevated and the curve continues to steepen as the 10yr eclipsed y-day's peak with global yields seeing upside though ECB's Lane has...
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  • Asia-Pac stocks rebounded from yesterday’s sell-off after the region took impetus from the strong performance on Wall St
  • Bank of Korea maintained the 7-Day Repo Rate at 0.50% as expected through a unanimous decision
  • A study tracking the use of the Pfizer/BioNTech vaccine in Israel shows that the vaccine is 94% effective in preventing symptomatic cases
  • In FX, the DXY lacked firm direction and traded either side of 90.00, EUR/USD extended...
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  • European equity indices (ex-FTSE 100) and US futures are firmer on the session with RTY the outperformer, +0.7%
  • US 10yr yields are flat on the session at 1.3680%; DXY has seen slight upside after initial downside where it lost the 90.0000 handle
  • WTI and Brent are positive and in proximity to best levels ahead of the EIA report
  • US FDA is planning to unveil its detailed analysis on Johnson & Johnson's COVID-19 vaccine later...
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  • Asia-Pac bourses traded lacklustre following on from the mixed performance stateside where the major US indices spent most of the session clawing back early tech-led declines
  • Hong Kong announced it will increase stamp duty for stock trading to 0.13% from 0.10%
  • RBNZ kept the OCR at 0.25% and LSAP at NZD 100bln as expected
  • In FX, the DXY maintained 90.00 status, EUR/USD oscillated around 1.2150, GBP/USD pulled back from its advance above...
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  • Equity indices are notably pressured, Euro Stoxx 50 -1.5%, while the FTSE 100 -0.8% is the relative-outperformer and NQ, -1.7%, underperforms as tech lags; TSLA -6.0%
  • Crude remains underpinned but has given up earlier highs given the broader deterioration while precious metals are hindered but XAU fares comparatively better
  • The USD has derived support from the broader sentiment to the modest, and mixed, detriment of major peers while USTs lift slightly and yields...
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  • Asian equity markets eventually traded mostly positive after initial choppy price action following on from the mostly negative lead via Wall St
  • Sentiment in the US was pressured amid underperformance in tech and continued increases in yields
  • In FX, the DXY continued to fade yesterday’s initial strength, EUR/USD resides above 1.2150, GBP/USD firmly on a 1.40 handle
  • The US House Budget Committee advanced the USD 1.9trln COVID-19 aid bill as...
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  • European indices and US futures are seeing downside as the NQ -1.2% underperforms in-fitting with the tech sector lagging; while crude remains supported
  • US yields continue to extend, 10yr overnight peak 1.3940%, the debt itself is off-lows given the broader tone though still subdued
  • Pfizer/BioNTech COVID-19 vaccine is said to be 98.9% effective at preventing COVID-19 deaths and was 89.4% effective at preventing laboratory-confirmed...
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  • MON: PBoC LPR Setting; Bank of Israel Policy Announcement; German Ifo Survey (Feb); New Zealand Retail Sales (Q4)
  • TUE: UK Employment Report (Dec) and Claimant Count (Jan); EZ CPI Final (Jan)
  • WED: RBNZ Policy Announcement; German GDP (Q4)
  • THU: BoK Policy Announcement; German GfK Consumer Sentiment (Mar); EZ Sentiment Survey (Feb); US Durable Goods (Jan); GDP 2nd Estimate (Q4); Australian capex; New Zealand Trade Balance...
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  • Asian equity markets began the week indecisively with weekend newsflow not providing much to spur sentiment in either direction
  • In FX, the DXY remains supported with the US 10yr yield reaching 1.3940% overnight. GBP/USD maintains 1.40 status
  • UK PM Johnson is to announce his roadmap for exiting lockdown to Parliament at 1530GMT. Press conference at 1900GMT
  • UK Chancellor Sunak is reportedly set to hike UK corporation tax in the Budget...
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  • European indices and US futures are supported as the RTY +0.9% outperforms with US yields firmer but off highs
  • Crude is under pressure, but off lows, as Texas weather and potential geopolitical risk-premia begins to unwind
  • Biden will reportedly say the US is not looking for a cold war with China but parties should work to challenge abusive practices, ahead of today's summit
  • Flash PMIs have been broadly firmer, with UK Services and German...
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  • Asian equity markets traded negatively following a weak handover from Wall St where the major indices declined
  • House Speaker Pelosi said the House will vote on the USD 1.9trln stimulus bill at the end of next week
  • Senior Democrats discussed proposing as much as USD 3tln of additional spending on a jobs and infrastructure package
  • In FX markets, the DXY hovers around 90.50, EUR/USD eyes 1.21 and GBP/USD remains on a 1.39...
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  • European indices and US futures are softer on the session as the NQ -0.8% continues to lag and European sectors are dictated by earnings; Euro Stoxx 50 -0.3%, ES -0.4%
  • Study on the Pfizer/BioNTech vaccine seemingly indicates that it is significantly less effective on the South African variant
  • WTI and Brent have drifted from best levels but remain supported by the ongoing US weather situation; APIs printed a larger than expected draw last...
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  • Asian equity markets traded indecisively as the region took its cue from a similarly uninspiring lead from the US
  • FOMC minutes proved to be uneventful in which the account noted that the Fed is still far from its inflation and employment goals
  • The DXY held firm after its brief incursion above 91.00, EUR/USD capped by 1.2050, GBP/USD stuck on a 1.38 handle
  • Italian PM Draghi's government won a vote of confidence at the...
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