• A relatively cautious start to the week for European equities [Euro Stoxx 50 U/C], as the overnight optimism faded.
• On the trade front EU countries have agreed to begin negotiations with the US; separately, the US have reportedly softened subsidies demands with China
• Looking ahead, highlights include New York Fed Manufacturing, Fed’s Evans, BoE’s Haskel
• Earnings: M&T Bank Corp, Goldman Sachs, Citigroup, Charles Schwab

GLOBAL

IMF stated that global expansion...

• Asian indices are predominantly positive, following on from Friday’s upbeat start to US earnings season and strong Chinese data
• US-China trade hopes bolstered on reports that an agreement has been reached on currency manipulation & US softening demands surrounding subsidies
• Looking ahead, highlights include New York Fed Manufacturing, Fed’s Evans, BoE’s Haskel
• Earnings: IBM, Johnson & Johnson, UnitedHealth Group, Netflix, CSX, Kinder...

ASIA-PAC

Asian equity markets traded mixed following an indecisive lead from Wall St. with participants tentative ahead of the latest Chinese trade data and big bank earnings in US. ASX 200 (+0.8%) benefitted from early outperformance in its largest weighted financials sector as top lender CBA gained on the reports it plans to reduce 10k workers, while Nikkei 225 (+0.7%)exporters found solace from favourable currency flows. Elsewhere, Hang Seng (+0.3%)...

• Asian indices are mixed as markets await Chinese trade data and the start of US earnings season
• France is reportedly against reopening EU-US trade talks, but will not block them given that a majority supports the talks
• Looking ahead, highlights include EZ Industrial Production, US Import/Export Prices, University of Michigan (Preliminary), Chinese Trade Balance, ECB's Weidmann & Praet, BoE's Carney
• Earnings: JP Morgan Chase, Wells Fargo...

• Major European indices are largely directionless [Euro Stoxx 50 +0.1%], following on from the cautious trade seen overnight
• EU Council President Tusk announced that a flexible Brexit extension to October 31st has been agreed upon
• On the trade front, China’s Commerce Ministry states that negotiators on both sides have been discussing the remaining issues following the conclusion of talks in the US
• Looking ahead, highlights include US Initial Jobless Claims & PPI, ECB's de Galhua, Fed's Clarida,...

• Asian equity markets were cautious as the region mulled over the prior day’s central bank activity from both sides of the Atlantic
• FOMC Minutes stated that a majority of policy makers expected rates to remain steady this year
• EU's Tusk announced that EU27 and UK have agreed to a flexible Brexit extension to October 31st
• Looking ahead, highlights include US Initial Jobless Claims & PPI, IEA Monthly Report, ECB's de Galhua, Fed's Clarida,...

• European indices have been grinding higher [Euro Stoxx 50 +0.5%], diverging from the downbeat performance seen overnight
• Relatively quiet on the Brexit front ahead of today’s emergency summit [11:00CDT/17:00BST], recent reports highlight that MP’s are considering motions for PM May’s resignation
• In FX markets, the AUZ & NOK outperform on inflation data and less dovish RBA comments, as the DXY pivots the 97.0 level ahead of today’s risk events
• Looking ahead, highlights include  US CPI, ECB...

• Asian indices are predominantly negative, following on from Wall St. where the SPX’s 8-day winning streak ended & ahead of today’s ECB rate decision, FOMC minutes & Brexit summit
• EU’s Tusk states that extending Article 50 to June 30th is not long enough; instead, proposes a 1-year flexible extension
• Looking ahead, highlights include UK GDP, Output, US CPI, ECB Rate Decision, FOMC Minutes, Special EU Council meeting on Brexit, OPEC Monthly Report, ECB's...

• Major European indices have traded choppily [Euro Stoxx 50 +0.2%], following on from the cautious trade overnight ahead of tomorrows risk events.
• Brexit sentiment, along with sterling, was buoyed by reports of German support for a 5yr backstop time-limit; however, this was subsequently denied
• On the trade front, USTR has released a list of EU products which may be subject to tariffs if the EU does not remove subsidies for Airbus
• Looking ahead, highlights include Fed's Quarles & Clarida, Supply...

• Asian indices edged into positive territory, following a mixed performance on Wall St. and ahead of tomorrow’s risk events including ECB rate decision & FOMC minutes
• Legislation avoiding no-deal and forcing an extension to Brexit has been written into UK law, while the EU want a 9/12-month extension if no agreement is reached by Friday
• Looking ahead, highlights include US NFIB Business Optimism, Fed's Quarles & Clarida, Supply from Japan, UK &...

• A quiet start to the week for European trade [Euro Stoxx 50 -0.3%] following on from mixed trade overnight and ahead of several key events this week.
• Reports indicate that UK PM May is to offer Labour leader Corbyn a legally binding soft Brexit, with a ‘Boris Lock’; separately, Tory MP’s may oust May if the UK partakes in EU elections or get an extension beyond June
• Looking ahead, highlights include US Factory Orders, Durables Revisions, ECB’s de Galhau, Norges Bank’s Olsen, Riksbank’s...

• A mixed start to the week for Asian indices, as Friday’s momentum fades and markets catch up from their extended weekend
• On the Brexit front, the government is prepared to change the Political Declaration to achieve a deal while the EU thinks May’s short extension is risky
• Looking ahead, highlights include German Trade, US Factory Orders, Durables Revisions, ECB’s de Galhau, BoC’s Wilkins, Norges Bank’s Olsen, Riksbank’s...

• Major European indices are little changed [Euro Stoxx 50 U/C], continuing the cautious tone seen in Asia ahead of today’s key risk events.
• US-China trade discussions continue, with Chinese Vice Premier Liu He saying the two sides have reached a new consensus on key issues, working to conclude talks swiftly
• In a letter to EU’s Tusk, UK PM May has proposed a Brexit extension until 30th June 2019
• Looking ahead, highlights include US & Canadian Jobs Report & Fed's...

• Asian indices were cautious ahead of today’s key risk events and thinner trade amid market holidays
• US-China trade narrative continues, with President Trump and USTR noting that progress has been made, but the deal is not there yet
• UK PM May is drafting letters for EU’s Tusk and Labour’s Corbyn regarding an extension and an offer respectively
• Looking ahead, highlights include German Industrial Output, US & Canadian Jobs Report, Fed's...

• European indices have traded lackluster this morning [Euro Stoxx 50 U/C] as markets await US-China updates and ahead of key risk events
• MPs marginally approved a bill preventing a no-deal Brexit, but rejected restricting extension date to before May 22nd & further indicative votes
• Looking ahead, highlights include ECB Minutes, US Initial Jobless Claims, Fed's Williams, Mester & Harker

ASIA-PAC

Asian equity markets traded cautiously with the region tentative...

• Asian indices were mixed with sentiment kept afloat by US-China trade optimism; notably, speculation around an imminent sign-off date for a deal
• MPs narrowly approved a bill to prevent a no-deal Brexit, but rejected restricting extension date to before May 22nd & further indicative votes
• Looking ahead, highlights include German Industrial Orders, ECB Minutes, US Initial Jobless Claims, RBI Rate Decision, Fed's Williams, Mester & Harker, supply from Spain...

• European indices are firmer [Euro Stoxx 50 +0.7%] as the positive sentiment from Chinese PMI’s and US-China trade continues to drive markets; note, the FTSE 100 (U/C) is lagging on sterling strength
• Dollar is subdued weighed on by G10 counterparts strength on the back of risk sentiment, Brexit updates & EZ PMIs
• Looking ahead, highlights include US Services PMIs, US ADP National Employment, US Non-Manufacturing ISM PMI, Fed's Bostic, Barkin, George &...

• Asian indices were firmer with sentiment driven by Chinese PMIs and US-China trade; ahead of further talks in Washington
• UK PM May seeks a further A50 extension and a solution with Labour leader Corbyn
• Looking ahead, highlights include EZ, UK & US Services PMIs, EZ Retail Sales, US ADP National Employment, US Non-Manufacturing ISM PMI, Fed's Bostic, Barkin, George & Kashkari

ASIA-PAC

Asian...

• Once again, none of the Brexit indicative motions reached a majority in the House of Commons, though a customs union moved closer to passing
• European indices are largely unchanged as the data driven momentum fades
• Dollar is outperforming G10 counterparts buoyed from yesterday’s data and the underperformance of AUD, NZD & GBP
• Looking ahead, highlights include US Durable Goods, APIs & Fed’s Kaplan

ASIA-PAC

Asian equity markets were mostly higher as the regional...

• Asian indices were firmer following gains on Wall St. as the data driven sentiment continues
• Once again, all Brexit motions were rejected, though a customs union moved closer to passing; ahead of today’s cabinet meeting and another potential vote on Thursday
• RBA kept rates unchanged as expected, maintained a neutral tone and stated that policy will be set to support growth
• Looking ahead, highlights include UK Construction PMI, US Durable...

• Major European indices are firmly in the green [Euro Stoxx 50 +0.8%] as the China fueled momentum rolls on from overnight
• Dollar underperforms most G10 counterparts; excluding JPY which is subdued by the improvement in risk sentiment
• Another busy day of Brexit ahead, amendment selection for today’s indicative votes by Speaker Bercow due around 14:30BST/08:30CDT & voting to commence around 20:00BST/14:00CDT
• Looking ahead, highlights include US Manufacturing PMIs, US Retail Sales, Business...

• Asian indices were positive as momentum carried over from Wall St; risk tone was boosted by a beat in Chinese PMIs
• US-China talks make ‘new’ progress, although China remains cautious 
• No clear path for UK PM May or her deal, which may be pitted against the most popular motion from indicative voting
• Looking ahead, highlights include EZ, UK & US Mfg PMIs, EZ CPI, US Retail Sales, Business Inventories, Construction Spending, ISM Mfg,...

• Major European Indices [Euro Stoxx 50 +0.5%] are higher continuing the positive momentum from Asia – Of note, all of the Big 4 Chinese banks have now reported
• House of Commons vote on the Withdrawal Agreement 14:30GMT/10:30EDT; no amendments have been selected for debate in Parliament
• Dollar remains firm, but has lost some momentum against G10 counterparts while cable is somewhat depressed ahead of todays vote.
• Looking ahead, highlights include, US PCE Price Index, Canadian GDP, Fed's Williams &...

• Asian equity markets were higher across the board, Shanghai Composite outperformed as US-China trade talks are underway
• US Treasury Secretary Mnuchin said that US and Chinese negotiators had a productive working dinner last night in Beijing
• UK House Speaker accepted a vote on the Withdrawal Agreement for today at around 1430GMT/1030EDT; Labour and DUP parties are set to vote against it
• In FX markets, the DXY held steady above the 97.00 level...

• European Indices [Euro Stoxx 50 +0.3%] have gained some traction, diverging from the mostly negative performance seen in Asia – for reference, 2 of China’s Big 4 banks have now posted earnings
• US-China trade talks progress; IP and enforcement remain sticking points
• No majority for any Brexit indicative option & DUP are to oppose PM May’s deal
• Looking ahead, highlights include German National CPI (Prelim), US GDP (Final) & Initial Jobless Claims, Japanese Tokyo CPI & Retail Sales,...