Jefferies EMEA Market Minutes

By Meredydd Watts

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Daily insight into equity markets including research calls, factor & sector analysis, key macro events and trends ---- THIS IS NOT EQUITY RESEARCH: This material is a marketing com... more

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FAQs about Jefferies EMEA Market Minutes:

How many episodes does Jefferies EMEA Market Minutes have?

The podcast currently has 366 episodes available.

Jefferies EMEA Market Minutes episodes:

May 22, 2020 Friday 22nd May - Europe opened -1%
Europe opened down -1% post a Risk off move started about 2am UK as yields lower, Futures hit during Asian as HK close -5.5% lows & Shanghai -2% amid headlines that China's plans to impose a national security law on Hong Kong.
Asian exposure names leading EU weakness this am: Prudential -7%, HSBC -5%, Luxury also weak led by Moncleer -2%, LVMH -1.5% although BUBERRY +2.5% post better tan expected earnings.
EU continues to tick higher driven by a high beta turnaround & a 400bps rally in EU BANKS now +1% on day banks volume +10% aswell. Auto's also up on the day so does appear some rotation back in value names.
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5min
May 21, 2020 Thursday 21st May - general rush off across asset classes
General risk off across asset classes overnight & this am with $ strength & bond yields lower post more -ve US/China headlines.
Eurostoxx Volumes are light -20% & Dax -30% be aware we have Scandinavia & Swis closed for mkt holidays today. Overall Clear theme today is risk off & with lights volume to continue tomorrow ahead of a long weekend in US & UK with mkts shut on Monday.
Europe has rallied off the lowsly mid morning post the PMI Manf & Services data out across Europe, we saw France, Germany, and UK beat cons. Estimates.
Client focus again is on cash calls from corporates. £1bn right issue this am from Whitbread 1st EU hotel group to come to mkt.
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5min
May 20, 2020 Wednesday 20th May - Europe Unch but some large single stock moves
Europe unch but some large single stock moves.
Nearly 20 names are -10% in 2 days on now news.
U.K. SELLS BONDS AT NEGATIVE YIELD FOR THE FIRST TIME however this is at the 2y so not a surprise as it is mimicking the market pricing,,, the real news is what baily said in terms of negative rates further out on the curve. Now market just awaiting comments from BoE's Baily at 2:30pm UK time
=> we continue to see retail selling of UK banks as a reflection of the uncertainty there
Asia pretty resilient overnight and helping futs stabilise. Casinos stronger in HK after Macau mulls reopening tourism in 3 stages. Weaker ¥ post announcement of BoJ meeting helps Japan outperform
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7min
May 19, 2020 Tuesday 19th May - SXXP now down on the day
Eurostoxx futs down on day having opened strongly, optimism regarding EU €500bn virus fund has waned post comments from French Economic minister Le Maire who said the EU fund would not be ready before 2021
As expect very busy start to Europe as short selling ban ends across many EU countries hence volumes in Eurostoxx +90% & in Spain & Italian volumes +200%
Since Eu closed last night we have also seen 3 decent sized corporates capital raising with >$3bn in cash calls. Lions share of that has come from COMPASS Group only trading -2%
Macro focus on: UK jobless data not as bad as feared as UK furlough scheme having the desired impact. German ZEW beat & later we have FED Powell & Treasury Secretary Steven Mnuchin appear before Senate Banking Committee.
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6min
May 18, 2020 Monday 18th - Risk on Monday! Italian unlock plan seems very liberal. Short sell bans ALL later
Recorded 10:30am GMT / 5:30am Eastern Time
* Europe +2.5-3% - solid risk on move but despite 2x SD move volumes -10% -- suggesting a CTA or macro led rally
* Italy’s unlock plan a big focus and it read much more liberal than perhaps many were expecting – I think this is a key driver today
* We have ALL European short ban rolling off a midnight tonight – UK and Germany in focus with many expecting outperformance of these regions in coming days with shorts rolled into other peers in continental Europe
* Commodities very strong building on last weeks gains. Iron ore breaking out and decent move in front month WTI back above $30
THIS IS NOT EQUITY RESEARCH: This material is a marketing communication and is not and should not be construed as investment research
Please refer to Jefferies’ important disclosure via this link: www.jefferies.com/globaljefferiesllc
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6min
May 15, 2020 Friday 15th May - Europe +1%
-Europe +1% this morning, Europe's rally into the close yesterday is continuing into the early hours this morning driven by the huge turnaround in Value.
-Overnight saw a mixed session in Asia caused by rising Tensions between US and China
- Germany is in Focus today... DAX +1.5% is outperforming today.. Despite German GDP YoY miss... Coming in at -1.9% (cons -1.6%)
- BASIC RESOURCES +4% in EU best performing sector & Volumes +50% 2points
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4min
May 14, 2020 Thursday 14th May - Weekly drift, vol inching higher, technical support levels being tested
Recorded 10:15am GMT / 5:15am Easter Time
* Europe -1.7%, melt down on continued concerns this week
* Some big technical levels being tested - we flag target of 7% lower from here on pure technical perspective
=> However, very hard to fight the massive stimulous packages
* Banks and Autos very poor today on earnings/divi cuts so drag on value
* Focus on CHF with SNB deposits rising rapidly indicating they are defending the 1.05 level....

THIS IS NOT EQUITY RESEARCH: This material is a marketing communication and is not and should not be construed as investment research
Please refer to Jefferies’ important disclosure via this link: www.jefferies.com/globaljefferiesllc
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7min
May 13, 2020 Wednesday 13th May - Europe -1.5% as market wakes up to likelihood of 2nd wave in infections
- Europe -1.5% as market wakes up to likelihood of 2nd wave in infections
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5min
May 12, 2020 Tuesday 12th May - More Bearish News on Resurgence of Coronavirus cases
More bearish news on resurgence of coronavirus cases - Telco in focus as VOD +8% retains do I - Oil ciments from BP CEO and Saudi Aramco retains dividend
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4min
May 11, 2020 Monday 11th May - Europe drifting lower through the morning on limited volume. Vix buy signals...
Recorded 10:15am GMT / 5:15am Eastern Time
* Europe -0.4%, 1% pullback from the highs
* Virus related headlines over weekend stacking up on the negative side
=> Uk unlock difficulties, German R rate 1.1, Pickup in cases in South Korea & some members of White House self isolating
* Travel and leisure worst performing sector led by airlines - stark contrast to performance of US names
* Retail continues to act very well... We continue to see buying of the online sector and also defensive buying generally in equities
* Volatility creeping back up after large pullback Friday - some buy signals forming
THIS IS NOT EQUITY RESEARCH: This material is a marketing communication and is not and should not be construed as investment research
Please refer to Jefferies’ important disclosure via this link: www.jefferies.com/globaljefferiesllc
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8min

FAQs about Jefferies EMEA Market Minutes:

How many episodes does Jefferies EMEA Market Minutes have?

The podcast currently has 366 episodes available.