• European bourses are pressured, Stoxx 600 -0.8%, after a negative US close on hot-CPI was exacerbated by further hawkish Fed speak/speculation.
• US futures are in-fitting with their European peers with the NQ -0.8%, modestly underperforming.
• Buck boosted by hawkish rate rise and balance sheet reduction preferences from Fed’s Bullard; peers pressured across the board.
• Bonds lick some wounds post-hot US inflation metrics, but curves stay flat...

• US stocks tumbled after a hot CPI report pushed the 10yr yield above 2%; S&P 500 -1.81%, Nasdaq 100 -2.33%
• Fed's Bullard (2022 voter) favours 100bps of interest-rate increases by July 1st and a half-point rate hike in March
• Asian stocks declined following the weak US handover and remarks from Bullard. US equity futures extended losses overnight
• European futures are indicative of a negative open with the Eurostoxx 50 future down by...

• European bourses are mixed/positive having pulled back modestly from a firmer cash open, individual movers heavily dictated by pre-market earnings.
• US futures are contained but with a modest negative bias apparent as we await US CPI and subsequent Fed speak.
• DXY somewhat deflated into US CPI even though expectations are lofty; JPY & SEK hampered on Central Bank activity.
• Core bonds back-off after a fade below midweek highs while JGBs...

• US stocks closed higher with the Nasdaq leading the advances amid a tech/growth bias; S&P 500 +1.43%, Nasdaq 100 +2.10%
• Asian stocks traded mixed as participants digested another deluge of earnings and US-China frictions
• European futures are indicative of a slightly higher open with the Eurostoxx 50 future up by 0.2% after the cash market closed higher by 1.8% yesterday
• DXY traded flat above 95.50 and lacked firm direction ahead of...

• European bourses are firmer in a continuation of positive APAC/US trade, catalysts light thus far going into Thursday's US CPI
• US futures post broad-based gains in a continuation of yesterday's action awaiting Central Bank speak
• Greenback ground down, but off recent lows ahead of Fed speakers on the eve of US CPI; peers supported and high beta outpacing
• Bonds regroup after Tuesday's meltdown, with Bunds outpacing UK peers after remarks from...

• US stocks were higher and finished near the best levels of the day; S&P 500 +0.8% at 4,520
• Asian stocks traded higher with earnings releases in focus and following the positive handover from Wall St
• European futures are indicative of a firmer open with the Eurostoxx 50 future up by 0.9% after the cash market closed higher by 0.2% yesterday
• DXY hovers around 95.50, EUR/USD maintains 1.14 status and antipodeans lead in the G10...

• European bourses are mixed and in proximity to the unchanged mark following an indecisive open; sectors similarly mixed.
• US futures are also mixed/unchanged, action directionally following European peers but has been more contained thus far.
• China State funds have reportedly purchased stocks to slow the market decline, according to Bloomberg.
• DXY firmer around 95.50 pivot point as UST curve flips and flattens; peers mixed but magnitudes...

• US stocks finished mixed (S&P 500 -0.4%) following a choppy, catalyst-lite session with indices stumbling into the close
• Asian stocks were mixed after the choppy mood in the US with newsflow dominated by geopolitical headlines
• European futures are indicative of a softer open with the Eurostoxx 50 future down by 0.3% after the cash market closed higher by 0.3% yesterday
• DXY marginally gained above 95.50 but with price action contained....

• Core European bourses are choppy and mixed overall, Euro Stoxx 50 -0.1%, though the periphery is pressured on domestic debt downside; FTSE MIB -1.6%
• Stateside, US futures are pressured but have also been choppy/rangebound for the most part, RTY lags
• Dollar retains the bulk of its stellar BLS labour report gains, but eases from best levels; with peers mixed across the board
• BTPs drop as core-periphery spreads widen with Lagarde in focus,...

• MON: Biden/Scholz Meeting; Chinese Caixin Services PMI (Jan); Russia-Ukraine Berlin Meeting.
• TUE: NBP Announcement; EIA STEO.
• WED: RBI Announcement; New Zealand Inflation Forecasts (Q1).
• THU: Riksbank Announcement; Banxico Announcement; Bank of Indonesia Announcement; UK GDP (Q4); US CPI (Jan); OPEC MOMR.
• FRI: CBR Announcement; UK GDP Estimate (Dec); Swiss CPI (Jan); Uni of Michigan Prelim. (Feb); IEA OMR;...

• US stocks finished mostly positive on Friday in what was a choppy session as investors digested a blow-out NFP report
• Asian stocks were mixed with mainland Chinese participants returning from the Lunar New Year holiday
• European futures are indicative of a higher open with the Eurostoxx 50 future up by 0.5% after the cash market closed lower by 1.3% on Friday
• DXY climbed back above 95.50 post-NFP beat with participants eyeing this week's US...

• European equities have drifted from the positive cash open despite a lack of news flow; US equity futures have largely given up earlier gains, NQ remains the outperformer post-Amazon
• DXY is contained but with a negative bias as EUR extends further, GBP pullsback and antipodeans lag
• Core EGB benchmarks came under further pressure in early-European hours on further hawkish repricing; USTs remain relatively contained
• WTI and Brent continue to...

• Asian stocks eventually traded mostly positive following the tech-related turbulence in US
• After-market earnings saw Amazon (AMZN) rising 14% and Snap (SNAP) soaring almost 60%
• US equity futures rose overnight with the NQ (+2%) leading the gains; Amazon holds an ~8% weighting in the NDX
• In FX, DXY extended further below 96.00, EUR/USD climbed above 1.1450 and Cable briefly reclaimed a 1.3600 handle
• In fixed income,...

• European bourses are pressured, Stoxx 600 -0.7% given the US after-market read across, followed by numerous earnings releases in the pre-market dictating individual movers/sectors.
• US futures are subdued and the NQ underperforms on Meta (-20%) earnings while the ES/RTY fare marginally better going into risk events.
• DXY has seen a bounce as peers pull-back going into BoE/ECB with G10 peers pressured across the board.
• Core debt is contained/choppy while EGB periphery benchmarks lag marginally amid...

• US stocks finished mostly higher in which major indices gained for a 4th straight day, although futures were sold overnight as Meta shares slumped over 20% post-earnings
• Asian stocks were mostly negative and took their cues from the selling pressure in US equity futures and the Meta slump
• European futures are indicative of a slightly softer open with the Eurostoxx 50 future down by 0.2% after the cash market closed lower by 0.1%...

• European bourses are firmer benefitting from after-market US updates amid a number of European earnings; sectors are predominantly in the green with Tech outperforming post-Google
• US futures are bolstered across the board as the NQ outperforms given Google's +10.5% gains in the pre-market and its heavyweight status in the index; note, Meta and Amazon earnings are due Wednesday and Thursday respectively
• Greenback continues to soften on repositioning and hit on EUR...

• US stocks finished higher as buying late in the session helped stocks breakout from early tentativeness (S&P 500 +0.6%)
• Asian stocks were positive as the region took impetus from Wall St's best 3-day performance since 2020
• US equity futures traded mostly higher overnight led by the Nasdaq 100 futures after strong Alphabet and AMD earnings; E-mini S&P +0.5%
• European futures are indicative of a positive open with the Eurostoxx 50...

• European bourses are firmer taking impetus from the holiday-thinned APAC handover and Monday's US close; albeit, benchmarks are off best levels, Euro Stoxx 50 +1.0%
• Stateside, US futures are relatively contained but have moved directionally with European peers, the NQ remains the current modest outperformer
• DXY sheds more Fed rate hike premium and month-end rebalancing momentum; with peers firmer across the board
• Core debt regrouping after month-end rout, with data on the horizon amid a limited...

• US stocks rallied amid month-end rebalancing and in the aftermath of recent heavy selling. S&P 500 (+1.9%), Nasdaq (+3.4%). 
• Asian stocks were positive but with upside limited amid mass holiday closures for the Lunar New Year.
• European futures are indicative of a positive open with the Eurostoxx 50 future up by 1.0% after the cash market closed higher by 0.9% yesterday.
• DXY lacklustre ahead of the European open, EUR/USD capped...

31st January 2022

• European equities kicked off the week with gains across the board before momentum waned
• US equity futures have eased off best levels to conform to a mostly downward bias; NQ outperforms
• In FX, Dollar drifts along into month-end whilst traditional havens lag; Aussie outperforms pre-RBA
• Fed’s Bostic (2024 voter) suggested that a rate increase of 50bps is possible if inflation remains stubbornly...

• MON: Chinese New Year; Chinese NBS PMIs (Jan), Composite PMI (Jan), Japanese Consumer Confidence (Jan) and Unemployment (Dec), German GDP Flash (Q4), EZ GDP Flash (Q4), Canadian Producer Prices (Dec), US Chicago PMI (Jan).
• TUE: RBA Announcement; German Unemployment (Jan); EZ, UK and US Final Manufacturing PMI (Jan); US ISM Manufacturing PMI (Jan); New Zealand Jobs Report (Q4).
• WED: EZ Flash CPI (Jan); US ADP National...

• US stocks finished higher on Friday after they shrugged off an initial choppy start; Apple surged 7%
• Asian stocks were mostly positive but with conditions thinned due to closures on Chinese New Year's Eve
• US equities futures were marginally higher overnight but with gains contained heading into month-end
• Fed’s Bostic (2024 voter) suggested that a rate increase of 50bps is possible if inflation remains stubbornly...

• European bourses have conformed to the downbeat APAC handover with losses in the region extending following the cash open, Euro Stoxx 50 -1.7%.
• US futures are moving in tandem with European-peers; however, magnitudes are more contained as the ES is only modestly negative and NQ continues to cling onto positive territory following Apple earnings
• Buck bull run continues as DXY takes out another July 2020 high; peers pressured across the board as such
• Bonds back off as curves realign in wake of heavy...

• All major US indices were subdued with initial gains reversed as selling re-emerged into the NY afternoon
• Asian stocks eventually traded mixed although China lagged ahead of holiday closures next week
• US equities benefitted overnight as Apple shares rose 5% following its earnings beat
• In FX, DXY held on to most its recent gains above 97.00, EUR/USD remained firmly beneath 1.1200, GBP/USD reclaimed 1.3400...

• Major bourses in Europe are nursing the post-Fed pressure with the complex now mixed.
• US futures saw an initial recovery but have since dipped back into modest negative territory, though they remain off overnight troughs.
• USD bid post-Fed with the DXY eyeing 97.00, to the detriment of peers across the board.
• Debt is pressured but off-lows, while BTPs outperform as we await the 4th round of Italian voting.
• WTI and Brent have trimmed APAC losses, while focus remains very much on geopolitics as...