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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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  • EU Commission are reportedly to mobilise EUR 750bln for the recovery fund, with EUR 500bln in grants & EUR 250bln in loans; additionally, to propose a budget of EUR 1.1trl
  • Sentiment strengthened on these reports with stocks, alongside US futures, climbing to session highs alongside EU periphery bonds surging higher as the core pulled back
  • FX sees the EUR continuing to strengthen on such reports which, alongside the improving sentiment, is weighing on the USD
  • US President Trump said that the US...
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  • Major US indices finished higher although staggered heading into the close after reports the US is considering sanctions on Chinese officials and firms
  • US President Trump said we will hear about US actions on China by the end of the week
  • The DXY nursed the prior day’s losses to reclaim the 99.00 handle, EUR/USD trade around 1.0950, GBP/USD remains above 1.2300
  • UK Chancellor Sunak is set to announce this week that the government will soon stop allowing companies from placing employees on the furlough...
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  • Sentiment remains strong with the e-mini S&P above the 3k handle as US futures outperform their European bourses in a relatively quiet session
  • Novavax (NVAX) reports that it has begun a clinical Phase 1 trial of a COVID-19 vaccine candidate
  • On Brexit, the EU are preparing to drop its "maximalist" approach to negotiations on fisheries, according to sources
  • BoE’s Haldane says the BoE have not remotely come to a view on NIRP
  • FX sees the USD softer weighed on by general sentiment and...
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  • Asian equity markets began the week mostly higher following last Friday’s recovery on Wall St. where the US major indices gradually clawed back opening losses
  • Thousands of protesters rallied in Hong Kong on Sunday against China’s national security law
  • US announced it will include 33 Chinese firms and institutions in an economic blacklist
  • The Oxford University COVID-19 vaccine has only around a 50% chance of success, according to the Professor leading the development of the drug
  • DXY was...
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  • China’s NPC meeting confirmed no GDP target for 2020 & reiterated intentions to implement the Phase One US-China deal
  • China's draft Hong Kong legislation stated that Hong Kong should finish enacting as soon as possible the regulations in basic law regarding national security; HK activists reportedly intend to protest this
  • APAC indices were heavily weighed upon on the NPC & HK newsflow, sentiment which has hit European bourses & US futures; albeit, currently off lows
  • Fixed is firmer and...
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  • Asian indices weakened as markets digested today's key events including the BoJ off-schedule meeting and start of China's NPC
  • China omitted setting a GDP growth target for this year due to coronavirus, as well as uncertainties surrounding economy and trade
  • China's draft Hong Kong legislation stated that Hong Kong should finish enacting as soon as possible the regulations in basic law regarding national security
  • US Senators are reportedly introducing a bipartisan bill that would sanction Chinese...
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  • European bourses continue to move further into negative territory after a subdued APAC session as US-China rhetoric ramped up; Stateside, futures are also softer but by a smaller magnitude
  • US President Trump suggested China could have stopped the COVID-19 plague and that China’s disinformation and propaganda attack on the US and Europe was a “disgrace”
  • Furthermore, diplomatic backchannels between US and China are said to have dried up and some suggest behind the scenes meetings/messages between officials...
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  • Asian equity markets struggled to sustain the impetus from the rebound on Wall St where stocks were underpinned by hopes of a pick-up in economic activity
  • US President Trump alleged the incompetence of China was behind the “mass worldwide killing” and that China’s disinformation and propaganda attack on the US and Europe was a “disgrace”
  • US Senate passed a bill aimed at increasing oversight of Chinese companies which could require Chinese firms to de-list from US exchanges
  • The temperamental tone...
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  • European bourses, and sentiment in general, has been choppy this morning but continues to drift higher ahead of the entrance stateside; US futures outperform with gains over 1%
  • Lowe’s (LOW) beat on EPS & revenue this morning as did Target (TGT) however they declined to provide FY guidance
  • FX sees the USD softer and DXY towards the bottom of a relatively compact range for the session; benefitting major counterparts & antipodeans in particular
  • China's Foreign Ministry says China will take...
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  • Asian equity markets traded indecisively following the soured mood on Wall St amid ongoing US-China tensions and a disappointing drug update
  • Moderna (MRNA) COVID-19 vaccine reportedly did not produce data critical to assessing the vaccine, according to STAT News citing experts
  • In FX markets, the DXY oscillated around the 99.50 level amid the indecisive risk tone
  • WTI July crude futures edged mild gains and broke back above the USD 32/bbl level supported by a somewhat encouraging private inventory...
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  • Sentiment has slipped on a few factors with trade in focus and as the European short-selling ban has been removed; US futures are subdued ahead of Powell
  • WTI has been firmer for much of the session but has slipped marginally into negative territory on the day ahead of today’s June’20 future expiry
  • FX, sees the USD softer to the benefit of most major counterparts aside from the JPY afflicted by the BoJ to hold an off-schedule meeting on May 22nd
  • US President Trump criticized the World Health...
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  • Asian equity markets were higher across the board as the region took impetus from the global stock rally
  • Germany and France proposed a EUR 500bln recovery fund and to give grants–not loans–to member states
  • White House spokesperson called China's USD 2bln pledge to the WHO a "token" to distract from China's failure to warn the world of what was coming
  • BoE's Tenreyro said MPC has not ruled out any policy tool and that it is her personal view that negative rates have had a positive impact in...
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  • Sentiment has strengthened following a hefty weekend of central bank speak notably from Fed Chair Powell
  • Fed Chair Powell reiterated the US will not have negative interest rates and post coronavirus recovery could last through 2021; not out of ammo & suggested there are no limits to what we can do
  • President Trump commented that he has lost a little flavour for the China trade deal
  • EU Medicines Agency says Gilead's (GILD) Remdisivir could be granted conditional market authorisation in Europe in...
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  • Asia-Pac bourses mostly began the week with mild gains and US equity futures extended on their rebound
  • Fed Chair Powell reiterated the US will not have negative interest rates and post coronavirus recovery could last through 2021
  • President Trump commented that he has lost a little flavour for the China trade deal
  • US House on Friday narrowly passed the new USD 3tln coronavirus stimulus relief bill. However, it is expected to be rejected in the Senate
  • BoE’s Haldane suggested the Bank was...
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  • European bourses were extending on opening gains but Huawei reports waylaid this; sending US futures into negative territory
  • US is moving to prevent Huawei from acquiring semiconductors and chip-sets made using US software/technology, Commerce Department; expects this will be the final '90-day extension'
  • US Treasury Secretary Mnuchin said China needed to provide a lot more information about coronavirus and that President Trump is reviewing all his options on China
  • White House are reportedly likely...
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  • Asian equity markets initially traded indecisively before moving into broadly positive territory
  • The session saw mixed Chinese data in which Industrial Production topped estimates but Retail Sales disappointed
  • The DXY traded choppy beneath resistance at 100.50, EUR/USD rangebound above 1.0800, GBP/USD consolidated above 1.2200
  • US Senate passed legislation to impose sanctions on China over human rights abuses against Uighur Muslims
  • The White House will likely support a fresh round of stimulus...
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  • European bourses follow, and extend on, the negative APAC lead; US futures have been either side of U/C throughout the session
  • US President Trump is reportedly looking into Chinese Co’s listed on NYSE and NASDAQ, adds he is very disappointed in China and reiterated preference for NIRP
  • Trump said it is a great time to have a strong USD; remarks which sent the DXY to fresh session highs just shy of the 100.44 May peak
  • UK is drawing up plans to reduce tariffs on US agricultural imports to advance...
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  • Asian stocks traded negatively with global risk appetite dampened by ongoing US-China tensions and questions about reopening efforts
  • China will soon impose countermeasures on US individuals and entities filing lawsuits seeking COVID-19 damages from China, according to sources
  • US President Trump extended the executive order protecting the US supply chain from Huawei and ZTE for an additional year, according to a statement
  • US President Trump...
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  • European bourses remain in proximity to negative opening levels while US futures are modestly firmer ahead of Fed Chair Powell before the open
  • US Republican Senators proposed legislation which would empower President Trump to impose sanctions on China if it does not provide a "full accounting" for the coronavirus outbreak.
  • Ahead of Powell (preview on Newsquawk feed), Fed’s Mester (Voter) said she would like to stay away from negative rates because it would impact money markets and suggested that negative...
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  • Asian equity markets were mostly negative following the late slump on Wall St. with sentiment soured over second wave fears and US-China tensions
  • Republican Senators proposed legislation which would empower President Trump to impose sanctions on China if it does not provide a "full accounting" for the coronavirus outbreak
  • US House Democrats are reportedly moving ahead with a new stimulus bill worth more than USD 3tln
  • UK is on course for a budget deficit of GBP 337bln this year compared to the GBP...
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  • European bourses opened marginally lower but have since been bolstered as US participants enter the fray; US futures firmer as such
  • US President Trump stated he is not happy with China and that he is not interested in reopening the US-China trade deal
  • China's Finance Ministry have released a second list of tariff waivers for some US goods; exemptions will last 1-year from May 19th
  • NY Fed said the Secondary Market Corporate Credit Facility...
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  • Asian equity markets traded cautiously following the indecisive performance of Wall St peers as US-China trade concerns resurfaced
  • US President Trump stated he is not happy with China and that he is not interested in reopening the US-China trade deal
  • DXY extended on gains above 100.00, EUR/USD and GBP/USD briefly slipped below 1.0800 and 1.2300 respectively, AUD lags
  • Fed’s Bostic and Evans both pushed back against the idea of negative rates for the US
  • UK Brexit negotiators are to reportedly...
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