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  • Asia-Pac bourses traded mostly positive as the region built upon the somewhat mixed performance stateside
  • The DJIA posted fresh record highs whilst tech suffered from a continued rotation into value
  • ECB draft forecasts assume only a fleeting jump in inflation and that savings will not fuel a spending boom, according to sources
  • The House passed the USD 1.9tln COVID-19 relief bill as expected; President Biden is set to sign it on...
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  • Indices are mixed but largely contained on the session with US futures mixed and somewhat pressured ahead of US' arrival and as yields err higher with focus on CPI later; ES -0.1%
  • DXY briefly dipped below 92.00 but has since regained the figure with peers a touch softer but rangebound
  • The USD 1.9tln relief bill passed the procedural hurdle in the House which paves the way for a 2-hour debate and final vote on Wednesday morning
  • Chinese...
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  • Asia-Pac markets traded with a slight positive bias following on from the gains on Wall Street where stocks were led higher by an aggressive resurgence in tech
  • The Nasdaq 100 surged higher by over 4% for its largest gain since November with advances also facilitated by an easing of yields
  • Chinese inflation data was firmer than expected but still showed CPI Y/Y in negative territory at -0.2% vs. exp. -0.4%
  • In FX, the DXY sits on a 92.00...
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  • European indices are firmer across the board, Euro Stoxx 50 +0.5%, though US futures outperform with the Nasdaq +2.4% recuperating some of yesterday's losses
  • APAC markets were mixed with China pressured but derived short-lived support from reports that state funds were said to purchase domestic equities after a worsening of the plunge
  • The OECD upgraded their 2021 & 2022 global GDP view vs the December release
  • US President Biden is...
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  • Asian equity markets traded choppy following the mixed lead from Wall St where the DJIA outperformed to post a fresh record high
  • The Nasdaq 100 slumped by nearly 3% amid a heavy rotation out of tech and into value
  • In FX, the DXY maintained a footing above 92.00, EUR/USD sits above 1.1850 and GBP/USD maintains 1.38 status
  • Oil prices nursed losses overnight with WTI back above USD 65.00/bbl
  • Looking ahead, highlights...
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  • European indices are firmer, Euro Stoxx 50 +0.9%, while US futures remain hindered amid tech underperformance, ES -0.6% & NQ -1.5%
  • Brent surpassed the USD 70/bbl mark (high USD 71.38/bbl) following a Houthi attack on a Saudi oil yard, though the benchmarks have retraced this and are now negative
  • The USD remains underpinned as yields climb and the curve continues to steepen, to the detriment of peers ex-GBP benefitting from EUR/GBP...
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  • Asian equity markets eventually traded mostly lower as underperformance in tech sapped the early momentum from stimulus progress
  • The US Senate passed the USD 1.9tln COVID-19 relief bill. The House is set to vote on the bill on Tuesday
  • Chinese trade data showed February YTD exports surged by 60.6% Y/Y amid soft base effects from last year
  • In FX markets, the DXY briefly reclaimed 92.00, EUR/USD found a floor at 1.19, GBP/USD remains on a 1.38...
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  • European equity indices have been somewhat choppy within ranges printing a slightly mixed performance while US futures are contained but erring higher
  • DXY strengthens post-Powell to the detriment of peers though yields are steady but at comparatively elevated levels pre-NFP
  • Crude surges after the OPEC+ confab aided by forecast upgrades from a number of banks
  • China targets ’21 GDP growth of above 6% with CPI target ̴ 3% & budget deficit...
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  • Asia-Pac bourses extended on recent declines amid spillover selling from the US where tech took the brunt again and the bond rout persisted
  • Fed Chair Powell stuck to a dovish script and noted that that the current stance is appropriate which came as a disappointment for those awaiting commentary on SLR adjustments, YCC or operation twist
  • BoJ Governor Kuroda said the BoJ will likely debate whether to expand the implicit band for the 10yr JGB yield...
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  • European equity indices & US futures are negative with RTY the underperformer, -1.0%
  • DXY strengthens pre-Powell to the detriment of peers who reside predominantly negative
  • Crude has been tempered ahead of the OPEC+ confab whilst precious metals trade lacklustre
  • WHO said COVID infection rates have risen in Europe after six weeks of decline
  • Looking ahead, highlights include US IJC, Challenger Layoffs & Factory...
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  • Asian equity markets declined across the board as the region followed suit from the losses on Wall St
  • US tech stocks underperformed and sentiment was pressured by a resumption of rising yields
  • The DXY held on to most of yesterday's gains around 91.00, EUR/USD oscillated around 1.2150, GBP/USD remains sub-1.40
  • Fed's Evans said he does not expect the FOMC will need to change the duration of bond purchases and views the current increase in...
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  • European equity indices & US futures are firmer with RTY the outperformer, +1.2% & DAX cash printed record highs
  • DXY is choppy with peers mixed at present and USD/JPY nearing 107.00 while GBP is erring higher pre-budget (12:30GMT/07:30EST)
  • ECB sources state no need for drastic action to curb advances in yields, supressing core debt/elevating yields while UST yields bear-steepen
  • Crude has been bolstered by OPEC+ sources around no...
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  • An improved mood was observed in Asia as equity markets shrugged off the weak handover from Wall Street
  • Major US indices declined as tech lagged again with regulatory concerns also adding to the selling pressure
  • Chinese Caixin Services PMI printed its lowest reading since April last year
  • In FX, the DXY languished below 91.00, EUR/USD plateaued below 1.21 and GBP sits on a 1.39 handle ahead of the budget
  • OPEC+ is...
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  • European equity indices stabilise but US futures are softer with RTY the underperformer, -0.9%
  • The DXY has seen upside to the modest detriment of major peers, though off highs/lows respectively, while yields continue to consolidate
  • EZ CPI was as expected whilst Germany will reportedly extend its lockdown to March 29th
  • Crude remains underpinned ahead of OPEC+ but has drifted off lows while precious metals are somewhat...
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  • Asian equity markets whipsawed as risk momentum gradually waned despite the region initially taking impetus from the rally on Wall St
  • All major US indices notched substantial gains with the S&P 500 posting its best performance in almost nine months
  • The US will examine how the Treasury, Commerce Department and USTR can work together to deter currency intervention for trade advantages
  • In FX markets, the DXY extended on gains above 91.00,...
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  • European equity indices and US futures are firmer on the session with RTY the outperformer, +2.0%
  • DXY has seen upside & hovers around the 91.00 handle, with lower-yield peers underperforming while US 10yr yields stabilise
  • Johnson & Johnson's COVID-19 single-dose vaccine has received approval from US authorities
  • Chinese Official Manufacturing PMI and Caixin Manufacturing PMI missed expectations but remained in expansion...
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  • Asian equities saw a recovery from Friday's losses alongside a rebound in bond markets; US 10yr yield currently ~1.40%
  • Johnson & Johnson's COVID-19 single-dose vaccine has received approval from US authorities
  • Chinese Official Manufacturing PMI and Caixin Manufacturing PMI missed expectations but remained in expansion territory
  • In FX markets, the DXY sits circa 90.80, EUR/USD met resistance at 1.21 and GBP/USD eyes 1.40 to the upside...
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  • European equities pressured. US futures softer, but to a lesser extent; E-mini S&P -0.1%
  • DXY has seen upside and resides near best levels after surmounting 90.50, to the detriment of its broader peers
  • US President Biden's USD 15/hr minimum wage proposal was ruled out of order for the Senate relief bill
  • US Treasuries has already secured a foothold overnight; US 10yr yield steady below 1.5%
  • Looking ahead,...
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  • Asia-Pac stocks slumped after reacting to the sell-off on Wall St amid a global bond rout and surge in yields
  • Fed speakers once again provided very little pushback to the rising yield environment; US 10yr breached 1.6% yesterday
  • In FX markets, the DXY remains firmer but retreated marginally alongside the pullback in the US 10yr yield back below 1.5%
  • US Pentagon confirmed reports that the US conducted a strike on Iranian-backed militia in...
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  • European equity indices were firmer across the board but are now a touch mixed in-fitting with US equity futures where the NQ is underperforming, -0.9%
  • DXY has seen downside and resides at its lowest level just maintaining 89.70 to the benefit of its broader peers though JPY remains hindered given rate-differentials
  • US yields remain elevated and the curve continues to steepen as the 10yr eclipsed y-day's peak with global yields seeing upside though ECB's Lane has...
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  • Asia-Pac stocks rebounded from yesterday’s sell-off after the region took impetus from the strong performance on Wall St
  • Bank of Korea maintained the 7-Day Repo Rate at 0.50% as expected through a unanimous decision
  • A study tracking the use of the Pfizer/BioNTech vaccine in Israel shows that the vaccine is 94% effective in preventing symptomatic cases
  • In FX, the DXY lacked firm direction and traded either side of 90.00, EUR/USD extended...
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  • European equity indices (ex-FTSE 100) and US futures are firmer on the session with RTY the outperformer, +0.7%
  • US 10yr yields are flat on the session at 1.3680%; DXY has seen slight upside after initial downside where it lost the 90.0000 handle
  • WTI and Brent are positive and in proximity to best levels ahead of the EIA report
  • US FDA is planning to unveil its detailed analysis on Johnson & Johnson's COVID-19 vaccine later...
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  • Asia-Pac bourses traded lacklustre following on from the mixed performance stateside where the major US indices spent most of the session clawing back early tech-led declines
  • Hong Kong announced it will increase stamp duty for stock trading to 0.13% from 0.10%
  • RBNZ kept the OCR at 0.25% and LSAP at NZD 100bln as expected
  • In FX, the DXY maintained 90.00 status, EUR/USD oscillated around 1.2150, GBP/USD pulled back from its advance above...
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  • Equity indices are notably pressured, Euro Stoxx 50 -1.5%, while the FTSE 100 -0.8% is the relative-outperformer and NQ, -1.7%, underperforms as tech lags; TSLA -6.0%
  • Crude remains underpinned but has given up earlier highs given the broader deterioration while precious metals are hindered but XAU fares comparatively better
  • The USD has derived support from the broader sentiment to the modest, and mixed, detriment of major peers while USTs lift slightly and yields...
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  • Asian equity markets eventually traded mostly positive after initial choppy price action following on from the mostly negative lead via Wall St
  • Sentiment in the US was pressured amid underperformance in tech and continued increases in yields
  • In FX, the DXY continued to fade yesterday’s initial strength, EUR/USD resides above 1.2150, GBP/USD firmly on a 1.40 handle
  • The US House Budget Committee advanced the USD 1.9trln COVID-19 aid bill as...
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