15 Mar 2023, 10:50 by Newsquawk Desk
- Equities are under marked pressure as sentiment sees a significant deterioration as Banking names slump, SX7P -5%, amid renewed focus on Credit Suisse, -18%.
- Saudi National Bank said they will not provide more assistance to Credit Suisse; Saudi National Bank is the largest shareholder with a 9.9% stake.
- An update which has added to banking concerns globally and particularly within Europe, sparking a marked deterioration in sentiment and...
15 Mar 2023, 06:49 by Newsquawk Desk
- US equities were firmer on Tuesday, led by the tech sector, while financials recovered some of the losses from Monday's sell-off
- APAC stocks followed suit with gains, as banking contagion fears eased, and markets found relief in the absence of additional bank failures
- FX markets were indecisive, with the DXY slightly softer, EUR/USD initially stronger, and GBP/USD choppy
- US military confirmed that a Russian fighter jet struck the propeller...
14 Mar 2023, 10:43 by Newsquawk Desk
- European bourses are posting tentative gains, Euro Stoxx 50 +0.2%, as the risk tone remains fragile given financial stability concerns.
- Stateside, futures are modestly firmer but have been unable to claw back any of Monday's marked downside, ES +0.4%, ahead of February's CPI.
- The European banking sector is under further pressure amid a Credit Suisse announcement of material weakness in their 2021/22 financial reporting.
- The DXY is firmer and...
14 Mar 2023, 06:50 by Newsquawk Desk
- APAC stocks declined amid a continuation of the selling in financials and with risk appetite constricted.
- European equity futures are indicative of a marginally higher open with the Euro Stoxx 50 +0.1% after the cash market closed down 3.1% on Monday.
- DXY is firmer but still on a 103 handle, JPY lags peers, EUR/USD hovers just above 1.07.
- 10yr UST futures pulled back from the historic bull-steepening on Monday whereby yields tumbled amid...
13 Mar 2023, 10:45 by Newsquawk Desk
- Fed said it is to provide liquidity to US depository institutions in which each Federal Reserve bank would make advances to eligible borrowers.
- European bourses are under substantial pressure, with banking names leading the downside as contagion concern continues, SX7P -5.5%.
- Stateside, futures have been faring comparably better given backstop measures; though, they are well off best with ES U/C while large & small banking names are heavily...
13 Mar 2023, 06:50 by Newsquawk Desk
- Fed said it is to provide liquidity to US depository institutions in which each Federal Reserve bank would make advances to eligible borrowers.
- Goldman Sachs said it no longer expects the Fed to hike rates at the March meeting in light of recent stress in the banking system; expects hikes in May, June and July.
- APAC stocks traded mixed with financials hit amid the fallout from the SVB collapse and subsequent failure of Signature Bank.
- US (ES...
10 Mar 2023, 11:19 by Newsquawk Desk
- European bourses are lower across the board, Euro Stoxx 50 -1.5%, as contagion fears from SVB dents risk sentiment and weighs heavily on banks, SX7P -4.0%.
- Stateside, futures remain under pressure with the ES around 3900 while the NQ is the relative outperformer, and little changed overall, with yields lower.
- USD has failed to benefit from the risk tone while JPY lags as hawkish bets unwind post-BoJ and GBP outperforms after data and aided by EUR/GBP...
10 Mar 2023, 06:49 by Newsquawk Desk
- APAC stocks declined amid headwinds from the banking sell-off in the US owing to contagion fears related to Silicon Valley Bank.
- BoJ kept policy settings unchanged, as expected, with the decision on YCC made by a unanimous vote.
- European equity futures are indicative of a lower open with the Euro Stoxx 50 -1.6% after the cash market closed down 0.1% on Thursday.
- In FX, USD is steady on a 105 handle, JPY lags post-BoJ, EUR/USD and Cable sit...
09 Mar 2023, 11:30 by Newsquawk Desk
- Equities are under pressure as sentiment has slipped modestly throughout the European morning, ES -0.2%.
- The DXY is similarly weighed on and is below Wednesday's trough to the benefit of FX across the board; JPY outpaces pre-BoJ.
- Core fixed income is back within tighter ranges after an initial decline in the early European morning; long-end yields bid.
- Commodities are generally rangebound with catalysts somewhat limited and focus on geopols...
09 Mar 2023, 11:30 by Newsquawk Desk
- Equities are under pressure as sentiment has slipped modestly throughout the European morning, ES -0.2%.
- The DXY is similarly weighed on and is below Wednesday's trough to the benefit of FX across the board; JPY outpaces pre-BoJ.
- Core fixed income is back within tighter ranges after an initial decline in the early European morning; long-end yields bid.
- Commodities are generally rangebound with catalysts somewhat limited and focus on geopols...
09 Mar 2023, 06:49 by Newsquawk Desk
- APAC stocks traded mostly rangebound after the choppy performance in the US, while the region also digested weak data including softer-than-expected Chinese inflation.
- European equity futures are indicative of a marginally softer open with the Euro Stoxx 50 -0.1% after the cash market closed up 0.2% on Wednesday.
- DXY is contained and holding onto gains on a 105 handle, EUR/USD and Cable remain on 1.05 and 1.18 handles respectively, JPY leads G10...
08 Mar 2023, 11:30 by Newsquawk Desk
- Equities are mixed within fairly narrow parameters given the tentative post-Powell sentiment ahead of ADP & numerous speakers.
- DXY has lifted to a fresh YTD peak, with peers mixed as AUD outperforms and JPY lags.
- GBP was unfazed by Dhingra reiterating a preference to pause tightening, in remarks that were not as explicit as dovish-peer Tenreyro.
- Fixed income is attempting to tick higher, in what is more an attempted consolidation than...
08 Mar 2023, 06:49 by Newsquawk Desk
- APAC stocks were mostly lower amid headwinds from Wall St where risk assets suffered after Powell's hawkish testimony.
- European equity futures are indicative of a slightly softer open with the Euro Stoxx 50 -0.2% after the cash market closed down 0.8% on Tuesday.
- DXY lingers around YTD highs post-Powell, AUD is attempting to claw back recent losses, JPY lags.
- Hawkish Fed pricing saw the curve hit its most-inverted levels in over 40 years...
07 Mar 2023, 11:25 by Newsquawk Desk
- European bourses & US futures are contained in relatively narrow ranges pre-Powell, following firmer but ultimately capped APAC action on China trade data
- DXY continues to inch higher but has stalled at 104.50 before Monday's 104.69 best; AUD lags post-RBA
- EGBs/Gilts initially tested/breached Monday's best, but have pulled back slightly following relatively lacklustre auctions
- USTs are firmer and at the top-end of their range ahead of...
07 Mar 2023, 06:49 by Newsquawk Desk
- APAC stocks traded mostly higher although gains were capped as participants digested the latest Chinese trade data.
- Chinese trade data showed a continued contraction in both dollar-denominated exports and imports.
- RBA hiked rates by 25bps as expected but provided a slightly less hawkish tone.
- European equity futures are indicative of a contained open with the Euro Stoxx 50 flat after the cash market closed up 0.4% on...
06 Mar 2023, 11:20 by Newsquawk Desk
- European bourses are posting modest gains of circa. 0.3% in a continuation of the firmer APAC handover where the upside was capped by China's GDP targets.
- US futures are essentially unchanged given the above and as participants await the week's commentary from Fed officials, incl. Chair Powell, and Friday's NFP report.
- China set its 2023 GDP target at circa. 5.0% (exp. 5.0-5.5%), CPI target around 3%, jobless-rate around 5.5%.
- The DXY is...
06 Mar 2023, 06:49 by Newsquawk Desk
- APAC stocks were mostly positive as the majority of bourses took impetus from last Friday’s gains on Wall St.
- China will target 2023 GDP growth of about 5.0% (exp. 5.0%-5.5%) and CPI around 3%.
- European equity futures are indicative of a higher open with the Euro Stoxx 50 +0.4% after the cash market closed up 1.3% on Friday.
- DXY is a touch softer vs. peers, EUR saw mild gains post-Lagarde, antipodeans softer vs....
03 Mar 2023, 11:25 by Newsquawk Desk
- European bourses are firmer across the board, Euro Stoxx 50 +0.9%, in a continuation of the firmer Wall St./APAC handover; US futures bid, though to a lesser extent.
- DXY is under pressure with G10 peers firmer across the board as UST yields ease across the curve, CHF the main beneficiary.
- Fixed income benchmarks are bid across the board as yields continue to pullback in an extension of APAC action with EZ PPI data assisting.
- Crude benchmarks...
03 Mar 2023, 06:50 by Newsquawk Desk
- APAC stocks traded mostly higher amid tailwinds from the US and as the region also digested further strong Chinese Caixin PMI data.
- Fed's Bostic (non-voter) said the Fed may be in a position to pause by mid-to-late summer.
- European equity futures are indicative of a higher open with the Euro Stoxx 50 +0.6% after the cash market closed up 0.6% yesterday.
- DXY is a touch softer and back on a 104 handle, EUR/USD hovers just above 1.06, Cable is...
02 Mar 2023, 11:25 by Newsquawk Desk
- European bourses are softer across the board, Euro Stoxx 50 -0.5%, though off lows with limited reaction to EZ HICP ahead of minutes/Schnabel.
- US futures are similarly pressured, NQ lags given yield upside; CRM +15% and TSLA -6.% pre-market.
- USD has been aided by yields and geopolitical jitters, to the detriment of peers across the board with EUR unreactive overall to HICP.
- A hawkish release which sent Bunds to just shy of earlier lows,...
02 Mar 2023, 06:49 by Newsquawk Desk
- APAC stocks were choppy and mostly traded rangebound after the uninspiring handover from Wall Street.
- European equity futures are indicative of a marginally softer open with the Euro Stoxx 50 -0.1% after the cash market closed down 0.5% yesterday.
- DXY heads into the European session firmer vs. peers but still on a 104 handle.
- 10yr UST futures extended on their losses as the 10yr yield rose back above 4.00%.
- Looking...
01 Mar 2023, 11:35 by Newsquawk Desk
- Both European and US equity futures are firmer, in a continuation of the data-inspired APAC handover; US ISM & Fed speak ahead
- Specifically, the data released included the fastest pace of expansion for Chinese Manufacturing PMI in more than a decade.
- DXY has been pressured by marked Yuan action, while GBP lags post-Bailey and EUR outperforms ahead of German mainland CPI.
- EGBs are softer on the session, give state CPIs & Nagel, though...
01 Mar 2023, 06:49 by Newsquawk Desk
- APAC stocks were mostly positive as the region digested a slew of data releases.
- Official Chinese PMI printed its highest level since April 2012 and Caixin Manufacturing PMI also returned to expansion territory.
- European equity futures are indicative of a contained open with the Euro Stoxx 50 +0.1% after the cash market closed down 0.2% yesterday.
- DXY is a touch softer and back on a 104 handle, EUR/USD lingers below the 1.06 mark, JPY lags...
28 Feb 2023, 11:30 by Newsquawk Desk
- European bourses are mixed/flat, Euro Stoxx 50 +0.1%, as the initial pressure from hot French/Spanish inflation readings has eased through the morning.
- US futures in-fitting with the above ahead of Fed speak; AAPL lower on Foxlink, CVX higher post-buyback update.
- DXY is firmer, but is closer to the session trough, while EUR has faded initial CPI-induced upside, GBP outperforms & JPY lags.
- Debt futures fade with Bunds at a fresh cycle low...
28 Feb 2023, 06:48 by Newsquawk Desk
- APAC stocks eventually traded mixed heading into month-end and despite the early momentum from the positive close on Wall St.
- European equity futures are indicative of a flat open with the Euro Stoxx 50 Unch. after the cash market closed up 1.7% yesterday.
- DXY is a tad firmer but remains sub-105, antipodeans lag, Cable maintains 1.20 status.
- Northern Ireland DUP Leader Donaldson said they will now assess proposed Brexit arrangements against...