US EARLY MORNING: Index futures are trading lower

US futures are lower as European peers don’t take to the constructive tone overnight and on Wall Street yesterday. The world’s largest clothing retailer Inditex gave a constructive update. Auctions are in focus, with the US, Germany and UK selling 10yr lines today. Thursday’s ECB and Friday’s US CPI are the next major macro catalysts.

US index futures are lower (NQ -0.3%, YM -0.4%, ES -0.4%, RTY -0.5%), as European peers trade mixed, despite a constructive lead from both Wall Street and APAC sessions. Treasuries are bear-steepening, with yields higher by 1-4bps, with most underperformance in the belly ahead of today’s 10yr supply from the US (we also get 10yr auctions in Germany and in the UK today), and following yesterday’s soft 3s sale. Once again, the docket for the session is thin; MBA mortgage applications data will be eyed to see how higher rates are impacting mortgage demand; the measure has slipped for the last three weeks, as it has been doing for most of Q1 and Q2. Weekly DoE energy inventory data will also be in focus after API data released Tuesday was said to show a surprise build for crude stocks, while gasoline and distillate inventories rose by more than anticipated. Thursday’s ECB meeting is the next big macro event, and could have implications for North American traders (via the EUR and Bund channels, which can influence USD and Treasuries, which could in turn shift equity sentiment) – our preview for the event is here; Newsquawk’s Adam Linton will also be discussing the ECB meeting on a panel appearance later today (you can tune in here at 13:30EDT-16:00EDT Eastern /18:30BST-21:00BST London time). Our full Day Ahead can be accessed here.

EQUITY NEWS:

CONSUMER CYCLICAL:

TECH:

ENERGY:

INDUSTRIALS:

FINANCIALS:

HEALTH CARE:

08 Jun 2022 - 09:32- Fixed IncomeResearch Sheet- Source: Newsquawk

ECBPresidentUSDUnited StatesChinaBanksInditex SAFixed IncomeBrentHasbro IncNKEIntel CorpWestern Digital CorpMicrosoft CorpNovavax IncFDASpainNOG.USHAS.USNVAX.USGWRE.USMSFT.USVRNT.USTER.USWDC.USINTC.USBAYRY.USNVDA.USTSM.USGT.USIDEXY.USCASY.USSNY.USOI.USAZN.USREGN.USRHHBY.USCS.USTSLA.USLNEGY.USNKE.USEURRussian FederationTSLARenault SAVolkswagen AGCredit Suisse Group AGCSTSMCTaiwanTECHCasey's General Stores IncHASTesla IncEastern Co/TheGerman BondsESConsumer Price IndexNorthern Oil and Gas IncGuidewire Software IncRegeneron Pharmaceuticals IncREGNSanofiPAYCAstraZeneca PLCIIIMSFTBayer AGVerint Systems IncTERTeradyne IncElliott ManagementWDCAI FPDGXINTCNVDAUnited KingdomGermanyUkraineHighlightedResearch SheetAsian SessionDataCRCAZNEurope

Subscribe Now to Newsquawk

Click here for a 1 week free trial

Newsquawk provides audio news and commentary for over 15,000professional traders and brokers worldwide. Services include: