Newsquawk Rundown, Daily Podcast

European bourses are mixed after a morning of choppy price action; IBEX outperforms on inflation numbersStateside, futures are bid after an in-principal debt ceiling agreement with the NQ outperforming as NVDA leads in the pre-marketDXY briefly surmounted 104.50 but has since receded as Kanda-induced JPY pressure abates and GBP surpasses 1.24EGBs/USTs extend after soft EZ data and Spanish inflation, fresh highs occurring after...

US President Biden reached a budget agreement in principle with House Speaker McCarthy to raise the debt limit by 19 months until 1st January 2025In FX, DXY initially softened overnight alongside a downtick in US yields but then recovered against its major peers and as the CNY continued to depreciate; US equity futures saw mild gainsIn geopolitics, Russia launched a large drone attack on Kyiv over the weekend, while it was recently reported two residential...

MON: US Memorial Day, UK Late May Bank Holiday.TUE: Japanese Labour Market Report (Apr), EZ Sentiment Survey (May).WED: Japanese Retail Sales (Apr), Chinese Official PMIs (May), Australian CPI (Apr), French, Italian, German Prelim CPI (May), German Unemployment (May), Canadian GDP (Q1).THU: ECB Minutes, CBRT Minutes, South Korea Import/Exports Growth (May), Chinese Final Caixin Manufacturing PMI (May), German Retail Sales (Apr),...

Risk tone has slipped as we await substantive debt ceiling updates into the long weekendDXY is softer, but remains above 104.00, with CHF and JPY outperformingEGBs/Gilts slipped on UK Retail data, but have since pared with USTs bid on the above toneCommodities edging higher given the USD and XAU benefitting from sentimentMcCarthy said there was no agreement Thursday; will stay to continue work. Biden said they...

APAC stocks traded mixed following the mild positive bias stateside where the tech sector surged on Nvidia’s blockbuster reportNikkei 225 outperformed, US equity futures were rangebound, and European equity futures are indicative of a flat openUS President Biden and House Speaker McCarthy are said to be near a deal that would raise the debt ceiling for two years and cap spendingUS House Speaker McCarthy said there was no agreement on...

NQ outperforms post-NVDA, with Europe deriving upside in tandem though capped after German GDP revisionsStateside, debt ceiling concerns continue with focus on Fitch though journalist updates since have been somewhat constructive on talksUSD remains dominant with the DXY above 104.00 with NZD descending further after Orr’s remarksEGBs/USTs continue to slip though Gilts remains the standout laggard in a continuation of the UK-CPI...

APAC stocks were mostly lower with the region cautious after the losses on Wall St owing to debt ceiling fears, whilst Fitch placed the US on Credit Watch Negative.Nasdaq futures surged as NVIDIA (NVDA) shares rallied almost 25% after the close as earnings and forecasts beat expectationsThe FOMC May minutes were in fitting with recent Fed commentary and showed that officials were somewhat split on support for more rate hikesEuropean...

European bourses are under marked pressure as headwinds mount while US futures are lower but more contained awaiting debt ceiling developmentsOverall, updates via journalists this morning are skewed to the downside on a near-term agreementHawkish impulses were seen on hot UK CPI, with core fixed income pressured & BoE pricing liftingThough, Bunds & USTs have reverted back to modest positive territory as focus returns to potential...

APAC stocks were mostly lower following the negative lead from Wall St and amid US-China frictions.The US House China Select Committee Chair called for retaliation against China’s ban on Micron.US GOP Rep. McHenry said the top-line disagreement remains on spending and he cannot say when negotiations will resume.European equity futures are indicative of a lower open with the Euro Stoxx 50 -0.4% after the cash market closed down by 1.0%...

To download the report, please click here If you would like to subscribe to receive the research sheets directly in your inbox, you can now do so under the Research Suite section of the portal. To subscribe simply check the box next to "Email these reports" under the desired category. RBNZ expected to hike the Official Cash Rate by 25bps to 5.50% on Wednesday as forecast by 21 out of 25...