17 Mar 2023, 10:45 by Newsquawk Desk
- European bourses are firmer across the board, Euro Stoxx 50 +0.4%, as recent liquidity action settles sentiment on Quad Witching Friday.
- Stateside, futures are essentially unchanged having eased from initial best levels around the European open with attention on US banking names
- DXY is subdued, though back above, 104.00 to the broad-based benefit of peers; PBoC cut its RRR by 25bp.
- EGBs/USTs action has been markedly more contained thus far,...
17 Mar 2023, 06:50 by Newsquawk Desk
- US stocks gained with the Nasdaq leading advances; Asian stocks rose amid improved global risk appetite following recent bank lifelines
- DXY is subdued amid improved risk tone, while the Fed's balance sheet jumped to its highest since November as banks rushed for liquidity
- Crude futures are mildly higher as some banking sector fears are allayed, although WTI remains below USD 70/bbl
- Credit Suisse is being sued by shareholders in the US over a...
16 Mar 2023, 10:49 by Newsquawk Desk
- European bourses are bolstered amid as the region reacts to liquidity support for Credit Suisse (+18%), Euro Stoxx 50 +0.7%, though the tone is tentative pre-ECB.
- CS took action incl. borrowing CHF 50bln from the SNB and undertaken tender offers for notes; FINMA/SNB say the Co. meets liquidity requirements.
- Stateside, futures are mixed and near unchanged levels overall with several data points due.
- USD is softer on the session with G10...
16 Mar 2023, 06:50 by Newsquawk Desk
- APAC stocks were mostly lower, following global peers after Credit Suisse turmoil yesterday.
- Swiss National Bank (SNB) and FINMA to provide liquidity to Credit Suisse if necessary.
- US bank giants reportedly reduced direct exposure to Credit Suisse for months.
- European equity futures are indicative of a higher open with the Euro Stoxx 50 +2.0% after the cash market closed down 3.5% on Wednesday.
- DXY is a touch softer...
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, 14:25 by Newsquawk Desk
- SUN: US moves onto daylight saving time.
- MON: South Korean Imports/Exports (Feb).
- TUE: OPEC MOMR, UK Jobs Report (Jan/Feb), US CPI (Feb).
- WED: IEA OMR, Chinese Retail Sales (Feb) & Industrial Production (Feb), EZ Industrial Production (Jan), US PPI (Feb) & Retail Sales (Feb), New Zealand GDP (Q4), Japanese Trade Balance (Feb); UK Budget.
- THU: ECB Policy Announcement, Bank of Indonesia Policy...
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, 13:25 by Newsquawk Desk
- MON: Swiss CPI (Feb), EZ Sentix Index (Mar), EZ Retail Sales (Jan), South Korean GDP Revised (Q4).
- TUE: RBA Policy Announcement, EIA STEO, Australian Trade Balance (Jan), Chinese Trade Balance (Feb).
- WED: BoC Policy Announcement, NBP Policy Announcement, German Retail Sales (Jan), EZ GDP Revised (Q4), US ADP National Employment (Feb), Japan GDP Revised (Q4).
- THU: Chinese Inflation (Feb).
- FRI: BoJ Policy...
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...