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  • European equities opened with substantial losses but have since recuperated much of the downside
  • Beijing reported 36 new local cases on Monday bringing the total confirmed cases to 79 – with eight out of 16 districts in Beijing reporting cases on Monday according to Global Times
  • Beijing shut a fruit and vegetable market and imposed lockdown restrictions on residential areas nearby
  • UK PM Johnson is to tell EU leaders today that Brexit talks must be concluded by autumn at the latest
  • In FX, DXY...
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  • Asian equity markets traded negative and US equity futures also began the week on the backfoot in which the E-Mini S&P gapped below 3000
  • Beijing reported 36 new local cases on Monday bringing the total confirmed cases to 79 – with eight out of 16 districts in Beijing reporting cases on Monday according to Global Times
  • Beijing shut a fruit and vegetable market and imposed lockdown restrictions on residential areas nearby
  • Several US States...
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  • Sentiment has recovered in quiet newsflow after yesterday’s pronounced sell-off
  • Chinese PLA officer was reportedly arrested and charged with visa fraud as he tried to leave the US
  • UK government reportedly will formally rule out a Brexit deadline extension today and plans temporary light-touch customs checks with EU from next year, according to sources
  • Two new COVID-19 cases confirmed in Beijing as they close part of their key meat market
  • DXY is downbeat and towards lower-end of day’s range...
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  • Asian equity markets suffered losses following a steep sell-off on Wall Street amid fears of a second wave
  • US CDC reported that COVID-19 cases rose by 20,486 vs. Prev. 17,376; NYC positive test rate 1.7% vs. Prev. 1.5%; California case rate +2.3% vs. 7-day average +2.1%
  • Chinese PLA officer was reportedly arrested and charged with visa fraud as he tried to leave the US
  • UK government reportedly will formally rule out a Brexit deadline...
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  • Sentiment remains downbeat in a quiet session thus far after a negative APAC handover
  • DXY is subdued around the 96.00 mark weighed on by safe-havens while UST yields continue to bull-flatten
  • China reportedly continues to purchase US soybeans despite toughening rhetoric, least 10 cargoes purchased by state-run & private buyers in June
  • SCMP article suggested that nuclear arms control could be the next battleground in US-China rivalry after...
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  • Asian equity markets were mostly lower as the region took its cue from the underwhelming performance on Wall St where focus was on the FOMC
  • Most major US indices finished negative with energy and financials resuming their underperformance, although tech continued to buck the trend
  • The Fed stood pat on rates as expected, set monthly UST purchases at USD 80bln and MBS at USD 40bln respectively, did not introduce YCC or forward guidance
  • The USD saw a choppy reaction to the FOMC with the initial move in...
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  • Sentiment has slipped in a relatively quiet session as focus turns to today’s FOMC
  • DXY is softer but off lows while fixed has maintained a grinding bid; UST yield curve bull-flattening as such
  • China's Global Times tweeted that China may restrict use of Qualcomm (QCOM) chips in government bodies and key sectors related to national security
  • ECB is said to be drawing up a "bad bank" scheme to warehouse unpaid EUR debt from the pandemic, sources
  • Dutch Foreign Minister, regarding the EU Recovery...
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  • Asian equity markets traded somewhat indecisively after the mostly negative lead from global peers amid cautiousness heading into the FOMC
  • China's Global Times tweeted that China may restrict use of Qualcomm (QCOM) chips in government bodies and key sectors related to national security
  • The DXY was rangebound after another failed effort yesterday to snap its recent downtrend. FX markets were largely uneventful overnight
  • WTI crude futures...
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  • Sentiment is subdued as yesterday’s rally failed to continue into EU hours, with downside exacerbated after the cash open – e-mini S&P around 1% lower
  • US yields are bull-flattening with European yields seeing similar downside, to the detriment of banking names in Europe
  • JPY is the morning’s outperformer with the DXY still stronger nonetheless and in proximity to the 97.00 mark; antipodeans lag on China developments
  • North Korea will cut off communication lines with South Korea completely from...
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  • The risk tone across the Asia-Pac region was mostly positive with the regional bourses spurred by the firm handover from Wall St
  • The DJIA led gains, the S&P 500 turned positive YTD and the Nasdaq printed a fresh record high
  • The DXY attempted to nurse some of the recent weakness although remained firmly below the 97.00 level
  • The Fed eased terms of its main street lending facility to encourage more businesses to participate
  • WTI crude futures consolidated after the prior day’s losses in...
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  • European bourses are subdued as newsflow slows, while US futures remain firmer with a quiet stateside schedule ahead
  • OPEC+ unanimously agreed to extend current cuts for one month through July and will review if a longer extension is needed this month
  • Saudi raised selling prices to Asia by between USD 5.60-7.30, while Storm Cristobal also prompted the evacuation of platforms and rigs in the Gulf of Mexico
  • Trade figures from China mostly topped estimates with a record trade surplus in USD terms and a...
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  • Sentiment remains strong after a choppy APAC handover; albeit, US futures have been drifting lower following remarks from China
  • China has vowed to take countermeasures against the US move to sanction 33 Chinese firms and institutions
  • OPEC+ ministerial meeting is now planned for June 6th after Iraq, and other non-complying countries pledge better commitment to the oil cuts
  • UK and EU officials are reportedly set to end Brexit talks this week without coming to an agreement on the terms of their future...
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  • Asian equity markets were choppy with the region cautious following a mostly negative handover from Wall St. and as participants await the looming NFP report
  • USTR Lighthizer said he feels very good about the Phase 1 US-China trade deal and that the report that China was not honouring the soybean purchases was false
  • UK and EU officials are reportedly set to end Brexit talks this week without coming to an agreement on the terms of their future relationship
  • In FX, DXY enters the EU session softer with...
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  • Sentiment has slipped in a quiet session after a positive APAC handover as the OPEC meeting is seemingly delayed and with risk events looming
  • Energy Journalist Reza Zandi says the OPEC+ meeting is unlikely to be held today amid complicated negotiations for compliance
  • President Trump stated that he does not think they will need to send the military in response to protests
  • China's Agricultural Ministry confirms they are continuing to purchase US soybeans
  • Looking ahead, highlights include ECB...
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  • Asian stocks were mostly higher as the region partially upheld the firm handover from Wall St; S&P 500 +1.36%
  • Chinese state-controlled companies reportedly cancelled some shipments from US farm exporters, according to WSJ
  • US President Trump's administration selected Moderna (MRNA), AstraZeneca (AZN), Johnson & Johnson (JNJ), Merck (MRK) and Pfizer (PFE) as COVID-19 vaccine candidate finalists
  • German Chancellor Merkel's ruling coalition reached a deal on the German stimulus package with an...
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  • Sentiment remains strong after a positive APAC handover, US futures firmer but have been drifting
  • Saudi Arabia and Russia reportedly agreed on a preliminary 1-month extension on existing OPEC+ oil cuts, according to sources; meeting conditional on countries compensating for compliance ahead
  • Crude was firmer in-line with overall sentiment; however, above remarks knocked the benchmarks into negative territory
  • US President Trump reportedly appeared to be backing away from invoking the Insurrection Act...
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  • Asian equity markets traded higher across the board as the region took impetus from the energy-led gains on Wall St.
  • Chinese Caixin Services and Composite PMIs printed their largest expansions in nearly a decade
  • DXY continued to weaken and fell below the 97.50 level, EUR/USD breached 1.1200 and GBP/USD briefly took 1.2600 to the upside
  • OPEC+ oil cut extension talks are said to be complicated by Saudi and Russia haggling
  • US President Trump reportedly appeared to be backing away from invoking...
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  • China's Foreign Ministry says there is no information relating to a soybean halt and reports indicate soybeans from the most recent crop were sold to China state-buyers
  • Sentiment strengthens after a tentative APAC lead bolstered by soybean updates, US futures higher by 0.6% as DXY deteriorates and US Treasury curve beginning to modestly steepen
  • Trump stated he is mobilizing civilian and military resources to stop the rioting and warned he will deploy the military to states if local law enforcement cannot...
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  • Asian equity markets traded with cautious gains following the positive performance on Wall St but with upside limited after US President Trump’s latest speech
  • Trump stated he is mobilizing civilian and military resources to stop the rioting and warned he will deploy the military to states if local law enforcement cannot curb protests
  • UK could signal a willingness for a compromise on fisheries and level playing field trade rules if the EU drops its maximalist approach
  • The DXY remained lacklustre...
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  • China is reportedly to halt some US Soy imports as tensions are increasing, according to sources; with Beijing reportedly waiting to see what steps Trump takes before deciding its next move
  • US futures dropped into, and remain in, negative territory on these reports which also bolstered the USD and USTs
  • China's Foreign Ministry, responding to the US ending preferential treatment for Hong Kong, will have firm countermeasures. Adding, they firmly oppose such actions and it is an interference in internal...
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  • Asian equity markets began the new month higher across the board as the region sustained the late relief seen last Friday on Wall Street
  • US President Trump’s press conference on Friday saw the US leader revoke Hong Kong’s special status but refrained from making any adjustments to the China trade deal
  • This underpinned sentiment in Asia and helped US equity futures recoup the initial losses that were triggered by nationwide violent protests and mixed Chinese PMI data over the weekend
  • Official Chinese...
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  • US President Trump is to announce actions against China today in response to the HK bill – timing currently unknown
  • POTUS is reportedly to cancel visas of some Chinese students with links to the PLA, WSJ
  • China's Foreign Ministry reiterates they are determined to take countermeasures against the US in relation to its actions over Hong Kong; prepared to take all necessary measures
  • Sentiment remains tentative, with month-end flows also playing a role, aiding EUR/GBP and fixed income most notably thus...
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  • Asia-Pac indices mostly declined following the late selling pressure on Wall St. after President Trump announced a press conference on China later today
  • NEC Director Kudlow reiterated that the Phase One US-China trade deal is still on for now
  • US President Trump signed an executive order on social media companies which means they will no longer have a liability shield
  • UK reportedly seeks to form an international alliance of 10 democracies or “D10” to create alternative suppliers of 5G...
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  • China's Parliament has voted to approve the Hong Kong National Security Bill, as expected while the US House passed bill calling for sanctions on Chinese officials related to the crackdown on Uighur minorities as expected
  • Chinese Gov’t advisors say Beijing is “prepared for the worst case scenario” with the US
  • Action in the equity space sees some divergence with European bourses modestly firmer while US futures are mixed as the Nasdaq lags once...
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  • Asian equity markets traded mixed as China concerns counterbalanced the momentum from a firm Wall St handover
  • US Secretary of State Pompeo said he has certified to Congress that Hong Kong is no longer autonomous from China
  • US President Trump administration is reportedly considering suspending Hong Kong's preferential US tariff rate for exports to US
  • Huawei CFO lost the double criminality aspect of the US extradition case in Canadian court and the Canadian judge is mulling whether to proceed with...
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😴😴😴 That is us done for the week. Wishing all you rascals across the pond a great Independence Day! Meanwhile, f… https://t.co/SdJYlrxqbh