• European bourses are choppy but ultimately trade flat at the time of writing in what has thus far been a session void of incremental macro news.
• DXY index remains relatively contained between 106.500-840 confines; Antipodeans narrowly outperform; Pound was flagging even before a more contractionary than feared UK construction PMI.
• Having bounced further Wednesday’s lows, bonds are showing traits of fatigue and a reversion to the bear trend that was in place before...

• European bourses are now mostly but modestly firmer after trimming the losses seen at the cash open; US futures scaled back earlier losses to hover around neutral levels.
• DXY gravitates as Treasury yields slip, risk sentiment improves and various institutions step up intervention - with the index retreating from 107.240.
• Debt complex feels reprieve following a deeper downturn in futures and an extension in yields.
• Crude is softer intraday...

• APAC stocks declined following the losses on Wall Street where stocks and bonds resumed their slide.
• European equity futures are indicative of a lower open with Euro Stoxx 50 future -0.2% after the cash market closed down 1.0% yesterday.
• DXY lingers above the 107 mark, USD/JPY sits on a 149 handle after yesterday's suspected intervention.
• Japanese Finance Minister Suzuki responded 'no comment' when asked if Japan...

• European bourses are a touch softer with yields in focus, US futures slightly firmer ahead of data & Fed speak
• DXY ran into resistance and has faded from a 107.21 best, but does remain incrementally firmer; Antipodeans lag post on-hold RBA
• EGBs pressured with BTPs seemingly leading and pulling Gilts and USTs lower in sympathy
• Crude benchmarks and precious metals little changed overall with the USD...

• APAC stocks declined amid the rising global yield environment and the continued absence of some key markets.
• The RBA unsurprisingly kept rates steady in Governor Bullock's inaugural meeting and with the statement largely a carbon copy from the Lowe era.
• European equity futures are indicative of a lower open with Euro Stoxx 50 future -0.7% after the cash market closed down 0.9% yesterday.
• DXY is firmer above 107, EUR/USD is subdued beneath...

• European bourses & US futures have given up initial gains but action remains tentative pre-data/Powell and after mixed Chinese PMIs
• US House/Senate passed a short-term spending bill, Biden signed a 45-day stop-gap measure into law
• DXY is bid on dips and towards the top-end of 106.04-49 parameters with JPY lagging; antipodeans cautious ahead of policy announcements
• Core debt benchmarks back under pressure ahead of afternoon...

• US House and Senate passed a short-term spending bill to keep the government funded until November 14th.
• APAC stocks traded mixed in severely holiday-quietened conditions amid the mass closures in the region.
• European equity futures are indicative of a contained open with Euro Stoxx 50 future flat after the cash market closed up 0.3% on Friday.
• DXY is flat and in tight parameters, AUD lags, JPY also softer after USD/JPY printed an...

Week Ahead 2nd-6th October

• MON: BoJ SOO, Riksbank Minutes, Japanese Tankan Survey (Q3), EZ/UK/US Final Manufacturing PMIs (Sep), US ISM Manufacturing PMI (Sep), Chinese Market Holiday (Sep 29-Oct 8)
• TUE: RBA Announcement, Swiss CPI (Sep), Chinese Market Holiday (Sep 29-Oct 8)
• WED: RBNZ Announcement, OPEC+ JMMC Meeting, EZ/UK/US Final Manufacturing PMIs (Sep), EZ PPI and Retail Sales (Aug), ISM Services PMI (Sep), Chinese Market...

• European bourses are trading higher across the board with the Stoxx 600; US equity futures are also firmer in a continuation of yesterday's gains.
• DXY succumbs to more intense selling pressure amid softer US Treasury yields and renewed risk appetite; Antipodeans outperform.
• EGBs rebound following softer-than-expected German Retail Sales, French and pan-EZ inflation metrics.
• Crude prices have been relatively flat throughout the European...

• APAC stocks mostly took impetus from Wall St’s positive lead as yields and oil prices declined from recent peaks.
• US Senate bill to avert a government shutdown garnered enough votes to advance, as expected.
• European equity futures are indicative of a contained open with Euro Stoxx 50 future flat after the cash market closed up 0.7% yesterday.
• DXY tested 106 to the downside, major peers trade on the front foot vs. the greenback, antipodeans...

• European bourses trade softer following a predominantly negative close yesterday as a lack of positive catalysts keeps sentiment suppressed.
• DXY settled down under 106.50 after extending gains on Wednesday when various bullish impulses combined to boost the Buck.
• Bunds and Gilts have been in freefall alongside Eurozone periphery debt, the T-note managed to tread water for the most part.
• US Senate is to vote today at 16:30BST/11:30EDT on a...

• APAC stocks traded mixed following the indecisive performance in the US amid further upside in global yields and higher oil prices.
• European equity futures are indicative of a contained open with Euro Stoxx 50 future flat after the cash market closed up 0.1% yesterday.
• US Senate is to vote today at 16:30BST/11:30EDT on a motion to proceed the "shell" bill to avoid a shutdown, according to Fox.
• DXY holds gains above the 106 mark, EUR/USD...

• European bourses are firmer in early trade, albeit it is hard to see today’s bounce as much more than a reprieve from recent losses with not a great deal changing since yesterday’s close.
• DXY consolidates gains on the 106.00 handle within a 106.16-32 range as month/quarter-end rebalancing demand offsets negative factors.
• Price action in bonds is decidedly more encouraging or less destructive than it has been for a while and decent blocked curve flatteners...

• APAC stocks traded mixed as a rebound in Chinese Industrial Profits partially offset the subdued handover from Wall St.
• European equity futures are indicative of a contained open with Euro Stoxx 50 future flat after the cash market closed down 0.9% yesterday.
• US Senate voted to clear a procedural hurdle of the Senate bipartisan bill to avoid a shutdown; McCarthy says stopgap funding bill will be brought to the House floor on Friday.
• DXY...

• European bourses are on the backfoot but off the worst levels seen at the cash open despite a lack of fresh fundamental headlines, with the UK's FTSE outperforming on a weaker GBP.
• US futures are pressured amid a generally negative risk tone across the market and a lack of any fresh catalysts.
• DXY has trimmed earlier upside after initially gaining more ground against the majority of its currency rivals amidst the ongoing rout in debt, and in the run-up to month...

• APAC stocks were mostly lower with headwinds from the rising global yield environment.
• US Senate Republican and Democrat negotiators are nearing a deal on a short-term spending measure, according to Blomberg.
• European equity futures are indicative of a softer open with Euro Stoxx 50 future -0.2% after the cash market closed down 1.0% yesterday.
• DXY lingers around the 106 mark, EUR/USD sits on a 1.05 handle, USD/JPY has taken a breather after...

• European bourses extended on losses since the cash open, despite no obvious catalyst to drive price action, and with no initial move seen in response to the German Ifo metrics - a release which on balance was better-than-expected. 
• US equity futures reversed their earlier gains and saw an acceleration in losses at one point despite a lack of fresh drivers at the time. The futures have since stabilised around flat levels intraday. 
• DXY retains an underlying...

• APAC stocks traded with a mostly negative bias; Evergrande cancelled its creditor meeting and is scrapping its USD 35bln debt restructuring plan.
• European equity futures are indicative of a softer open with Euro Stoxx 50 futures -0.2% after the cash market closed down 0.1% on Friday.
• DXY is contained above 105.50, EUR/USD lingers below 1.0650, USD/JPY maintained 148 status, and antipodeans narrowly lagged.
• House Republicans are said to...

Week Ahead 25-29th September

• MON: German Ifo (Sep), US National Activity Index (Aug), German State CPIs (Sep)
• TUE: Swedish PPI (Aug), US Consumer Confidence (Sep), New Home Sales (Aug) Richmond Fed (Sep)
• WED: Spanish Parliament PM Vote re. Feijoo (TBC), CNB Policy Announcement, BoJ Minutes (Jul); German GfK (Oct), Swedish Consumer Confidence (Sep), EZ M3 (Aug), US Durable Goods (Aug)
• THU: Banxico Policy...

• European bourses are mostly lower but have trimmed the losses seen at the cash open. The main macro story for the region thus far has been the flash PMI prints for September.
• French PMI missed, German PMI modestly beat, EZ PMI was mixed, UK PMI only saw manufacturing beat; the main theme of the PMIs was growth concerns.
• DXY is on a firmer footing following the uneventful BoJ decision overnight coupled with weakness from the EUR post-PMI; JPY...

• APAC stocks traded mixed amid a higher yield environment and after this week’s central bank frenzy culminated with a lack of surprises from the BoJ.
• BoJ kept monetary policy settings unchanged and made no change to forward guidance with the central bank to patiently continue monetary easing.
• European equity futures are indicative of a softer open with the Euro Stoxx 50 future -0.3% after the cash market closed down 1.5% yesterday.
• DXY...

• European bourses are pressured as the region reacts to the FOMC, US futures are lower but action is slightly more contained
• DXY is off 105.68 best but remains supported, GBP pressured and sub-1.23 ahead of the BoE with pricing still near 50/50
• CHF collapses as SNB leaves rates unchanged, SEK pressured on the initial Riksbank announcement before appreciating on FX hedging & NOK benefits from Norges Bank guidance for another hike
• Brief...

• The Fed kept rates unchanged and provided more hawkish dot plots; signalled a further rate hike this year and fewer cuts next year.
• APAC stocks were pressured in the aftermath of the FOMC’s hawkish pause; US futures are also softer (ES -0.3%) 
• European equity futures are indicative of a lower open with Euro Stoxx 50 future -1.0% after the cash market closed up 0.8% yesterday.
• DXY has held onto its post-FOMC gains, USD/JPY has...

• FTSE 100 outperforms after sub-forecast UK inflation data, Real Estate and Banking leading
• Stateside, futures are essentially flat pre-FOMC
• GBP undermined as market pricing pivots to 50/50 for pause/hike by the BoE, DXY at 105.00, USD/JPY over 148.00
• EGBs & USTs rise on significant Gilt upside, US yields lower with the short-end leading
• Crude benchmarks pressured after seven sessions of upside, XAU flat while...

• APAC stocks were mostly lower with risk appetite dampened ahead of the incoming deluge of central bank policy announcements.
• European equity futures are indicative of a contained open with Euro Stoxx 50 future flat after the cash market closed down 0.1% yesterday.
• DXY was steady above the 105 mark, EUR/USD and Cable sit below 1.07 and 1.24 respectively with the latter eyeing upcoming CPI data.
• Crude futures continued their pullback from a...