• European indices are firmer this morning, though sentiment has been impacted by US-China rhetoric
• Reports indicate China will struggle to purchase USD 50bln of US agri products annually, unless retaliatory tariffs are removed
• Mixed comments from EU’s Barnier stating that a Brexit deal is possible this week although sources note that the latest proposals are not enough
• DXY is mixed vs. G10 peers, with GBP and JPY outperforming and the debt complex is firmer thus far
• Looking ahead highlights...

• Asian equity markets traded mixed following the lacklustre lead from Wall St where the recent US-China trade optimism receded
• US-China talks are to resume next week and the Phase 1 deal could be wrapped up in November according to Chinese press
• Brexit deal hopes are reported to have increased as sources in both sides of the channel stated there was cautious optimism, according to the Telegraph
• US President Trump is to authorise sanctions against Turkish officials, immediately stop negotiations with...

• Major European indices are subdued after Friday’s highs and following latest US-China rhetoric
• China reportedly want further discussion before the signing of the Phase One deal with US President Trump
• Brussels is demanding further Brexit concessions from UK which has prompted warnings that a deal based on additional compromise would be rejected by Parliament
• In FX, GBP underperforms a somewhat mixed USD as Friday’s Brexit euphoria fizzles out ahead of Thursday’s summit
• Looking ahead...

• Asian equity markets began the week on the front-foot as the region reacted to last week’s announcement of a US-China Phase 1 dea
• The deal saw China agree to make between USD 40bln-50bln of agricultural purchases from the US and the US refrain from implementing the October 15th tariffs
• Brussels is demanding further Brexit concessions from UK which has prompted warnings that a deal based on additional compromise would be rejected by Parliament
• DXY slightly firmed as safe-havens recovered some of the...

• European bourses are firmer this morning as US-China flow has been light following yesterday’s positivity from US President Trump; is to meet China VP He at 19:45BST
• EU’s Tusk says UK PM Johnson is yet to bring forward suitable proposals, have received positivity signals from the Irish PM
• Reports that a Iranian tanker has been hit by missiles near a Saudi port, currently unclear as to where these originated from
• Crude is buoyed on the tanker flow while Sterling is the notable G10 FX outperformer...

• US President Trump said US-China talks went very well today ahead of his meeting with Chinese Vice Premier Liu He at 14:45EDT/19:45BST
• Asian equities took its cue from the rally on Wall Street, HK outperformed whilst Mainland remained cautious
• UK Brexit negotiators are proposing a "pared-down" free trade agreement to end the Brexit impasse, Irish PM noted that he had good discussions about a future relationship after Brexit
• DXY held onto losses, Cable kept a 1.24+ status, USD/JPY traded on either...

• European bourses are mixed/little changed overall, as focus remains firmly on US-China updates
• SCMP reports that Chinese delegation is cutting their trip short due to a lack of progress
• FBN’s Lawrence highlights that the China team have been debating leading early, may hinge on today’s talks
• US is reportedly considering some concession on a currency pact, next week’s tariffs and Huawei
• USD is softer vs. G10 peers, while the debt complex remains slightly firmer Stateside though the 10yr is...

• Asian equities traded with cautious gains in what was a volatile session amid a slew of contradicting trade headlines
• SCMP reported that Chinese delegation is cutting the trade trip short amid no progress on trade issues
• US is reportedly mulling some concessions regarding the currency pact, next week’s scheduled tariffs and Huawei but is to tighten inspections on parcels from China
• FOMC Minutes stated a few members said markets see more accommodation in the future than they see as...

• Risk sentiment is buoyed on reports that China are open to a partial trade deal in-spite of the technology blacklist, subsequent reports indicate China offer to purchase USD 10bln of goods per year
• Initial reports noted that the EU were prepared to make a significant concession on the Brexit deal; however, this has subsequently been rebuffed from every angle
• Reports that Turkish troops had crossed the Syrian border, since clarified that this has not happened thought they are at the border
• Debt...

• Asian stocks tracked losses on Wall Street but drifted off lows, South Korea was closed due to a public holiday
• US imposed Visa bans against Chinese individuals related to abuse of China's Uighur community, China said the move interferes in China's internal affairs and undermines China's interests
• US and Kurdish officials expect Turkey to launch an attack on Northeast Syria within the next 24 hours, Turkish attack appears coordinated with Russians according to sources
• Fed Chair Powell said Fed is to...

• China is toning down exp. ahead of trade talks, delegation are planning to cut the visit short and Liu He has not been given the designation of Special Envoy., SCMP
• China’s Commerce Ministry say to stay tuned for retaliation to the US naming 28 Co’s to be placed on their entity list
• German Chancellor Merkel reportedly told PM Johnson that a deal can only occur if NI remains in the customs union, if this is the EU’s position than a UK source notes that a deal is essentially impossible at any...

• Asian equities traded higher across the board despite a lacklustre handover from Wall Street, HKEX dropped its bid for LSE and Samsung Electronics released its Q3 guidance
• China is ready to do a deal on the parts of the negotiations both sides agree upon and are prepared to set out a timetable for the harder issues to be worked out next year, according to Fox
• US Commerce Department confirmed it has blacklisted 28 Chinese firms over treatment of the Muslim Uighur community
• In FX, DXY remained within...

• Major European indices are little changed as markets await further US-China updates
• China is reportedly narrowing the scope for a trade deal with the US, officials expected to present an offer which omits industrial policy or subsidies
• North Korea has terminated working talks with the US and US forces are to pull out of Northern Syria, and not stand in the way of Turkey’s long-standing plan
• USD is firmer vs. G10 counterparts excluding safe havens
• Looking ahead highlights include US Consumer...

• Asian equities traded mixed after initially opening higher, Mainland China and Hong Kong were closed
• China is narrowing scope for a trade deal with the US ahead of principle-level talks in Washington this week, according to reports
• North Korea has terminated working level nuclear talks with the US due to US’ “old viewpoints and attitude”, according to NK
• UK PM Johnson is reportedly willing to go to the Supreme Court to avoid having to write a letter asking for a delay to Brexit
• Looking...

• European equities are indecisive and overall little changed ahead of US jobs report
• White House Trade Adviser Navarro reiterated that there will be no small deal with China
• Beijing is in no hurry to forge a deal, and cites the one secured between US and Japan as a reason for not rushing., SCMP
• Fed’s Clarida was optimistic on the economy, noted Fed is not on a pre-set course and a standing repo facility will be discussed in future meetings
• USD is marginally softer thus far, fixed is firmer;...

• Asian equities traded with no firm direction after an upbeat performance on Wall Street, ahead of NFP
• SCMP Editorial piece stated, "Beijing is in no hurry to forge a deal” with the US
• EU’s Brexit Negotiator Barnier told a private meeting of EU diplomats that UK PM Johnson’s proposals fell far short of his conditions for a deal, sources stated
• In FX, the DXY is flat, EUR and GBP moved in-step with the Dollar, Antipodeans outperformed
• Looking ahead, highlights include US NFP and Trade, Baker...

• US equity futures are modestly firmer, in a bounce-back from the WTO announcement; note, Germany is closed
• USTR are to impose 10% tariffs on EU aircraft and 25% on agricultural and industrial goods
• Fed’s Evans says the ISM-Manufacturing print confirmed the FOMC’s view and is open-minded for the next meeting
• ·Fixed is firmer as growth concerns grow while DXY remains around 99.0 and somewhat mixed vs. G10 counterparts
• Looking ahead highlights include US Services and Composite PMIs, US Initial...

• Asian equities joined the global stock rout, Mainland China and South Korean markets were closed due to public holidays
• Hong Kong is reportedly studying a curfew to contain protest violence, according to local press
• US will impose retaliatory tariffs of 10% on EU aircrafts, 25% on EU agriculture and industrial goods, effective October 18th
• EU is ready to grant another Article 50 extension even if the letter is not signed by UK PM Johnson, diplomats stated that no European leader has reached the...

• European equities are lower as sentiment remains subdued from yesterdays events and ahead of today’s risk catalysts
• WTO are to announce the decision on the US' right to retaliate to against the EU over their Airbus (AIR FP) subsidies at 15.00 BST
• EU Sources note UK proposals on Brexit as reported by the media "won't fly" and seem "fundamentally floored"
• In FX, DXY has regained ground against most G10 peers while the debt complex has been...

• Asian equity markets were negative and followed the lead from Wall Street, ASX 200 underperformed, Mainland China and Indian markets were shut
• North Korea fired short-ranged projectiles towards the East Sea, one missile reportedly landed inside Japan’s Exclusive Economic Zone (EEZ)
• UK PM Johnson will today unveil a new ‘two borders for four years’ Brexit plan which will leave Northern Ireland in a special relationship with Europe until 2025
• Irish Foreign Minister Coveney said the UK PM’s Brexit plan...

• European equities are subdued this morning in-spite of a firmer open on a strong Asia-Pac lead
• Fed's Evans (Voter, Dove) says after the rate cuts, the Fed should leave policy on hold for some time, says there is a limit to what Monetary Policy can achieve
• In Hong Kong a protestor has reportedly been shot in the chest as the situation continues to escalate
• PM Johnson says we are going to make a very good offer but are not going to produce the proposals now that will be made in Brussels
• RBA...

• Asian equities traded higher across the board, Chinese and Hong Kong markets were closed due to National Day holiday
• The RBA cut its cash rate by 25bps to 0.75% as expected, reaffirmed easing bias, but added that a gentle turning point appears to have been reached
• UK PM Johnson is said to release his final Brexit plan to EU leaders within 24 hours and will reportedly ask the EU to rule out further Brexit extensions as part of a new deal
• In FX, DXY printed fresh YTD highs, USD/JPY climbed above 108,...

• Major European indices are modestly firmer but little changed overall, on a relatively quiet session thus far
• USD is firmer vs. most G10 counterparts with NZD the laggard although Sterling does modestly outperform
• US Treasury official stated that there are no current plans to stop Chinese firms from listing on US exchanges.
• UK Opposition Leaders will be meeting today to find a way to force UK PM Johnson to ask for a Brexit extension as early as this weekend
• Looking ahead highlights include,...

• Asian equities showed a mixed performance, Hang Seng (+0.4%) outperformed as Budweiser APAC’s debut signalled favourable IPO conditions
• Chinese Caixin Manufacturing topped estimates but trade concerns weighed on the one-year outlook and new export business continued to decline
• Reports suggested that the White House is mulling limits on portfolio flows into China, however, a US Treasury official stated that there are no current plans to stop Chinese firms from listing on US exchanges
• UK Opposition...

27th September 2019 

·        Major European indices are firmer following on from a choppy Asia-Pac session

·        FTSE 100 outperforms as Sterling slips and Gilts gain on dovish BoE Saunders

·        Saudi Arabia have reportedly agreed to a partial ceasefire in Yemen, according to the WSJ

·       ...