Newsquawk Rundown, Daily Podcast

European bourses are pressured on continuing Manufacturing PMI softness alongside hawkish pricing implicationsStateside, futures are essentially flat as we await further substantive debt ceiling updates and remarks from Fed’s PowellBiden said he is optimistic on making debt ceiling progress; McCarthy described the meeting as a productive discussionDXY is underpinned and benefitting further from EUR & GBP weakness post-PMIs while the...

APAC stocks were indecisive as participants digested the latest from the debt limit negotiations.US House Speaker McCarthy said he had a productive agreement with President Biden but they don't have an agreement yet.European equity futures are indicative of a flat open with the Euro Stoxx 50 Unch. after the cash market closed down by 0.2% yesterday.DXY is steady on a 103 handle, FX ranges are narrow across G10 FX, EUR/USD lingers just...

European bourses are mixed/flat with US futures diverging slightly with the ES & NQ pressured by Meta and Micron.Broader focus remains firmly on the debt ceiling after constructive weekend updates ahead of an expected Biden-McCarthy talk today (time TBC).DXY holds above 103.00 with the CHF outperforming and peers otherwise generally containedEGBs remain bid with the periphery outperforming after Greek elections and rating updates for...

APAC stocks were mostly positive but with price action rangebound amid cautiousness as the debt limit deadline draws closer.President Biden said his discussion with House Speaker McCarthy on Sunday went well and they will talk again on Monday.Fed’s Kashkari (voter) said he is open to foregoing a June rate hike but would object to any kind of declaration that they are done lifting rates.European equity futures are indicative of a flat open...

Week Ahead May 22-26thSUN: Greek ElectionsMON: PBoC LPR AnnouncementTUE: BoK Announcement, EZ/UK/US Flash PMIs (May), US Richmond Fed (May)WED: FOMC Minutes, RBNZ Announcement, UK Inflation (Apr), German Ifo Survey (May)THU: CBRT Announcement, SARB Announcement, German GDP (Q1), GfK Consumer Sentiment (Jun), US GDP 2nd (Q1)/PCE Prices (Q1)FRI: Japanese...

European bourses/US futures are firmer with fresh drivers limited and the focus firmly on Fed speakDebt ceiling reports indicate steady progress is being made, a view echoed by White House officials; Biden to leave G7 dinner earlyUSD retreats from multi-weak peaks amid a Yuan revival to the benefit of G10s pre-PowellEGBs have seen two-way action but are holding off early German PPI-induced lows, USTs comparably more...

APAC stocks were mostly higher following the tech-led gains on Wall St where the Nasdaq outperformed and the S&P 500 printed a 9-month high.US President Biden held a call with the debt ceiling negotiation team and his team said that steady progress is being made in talks.European equity futures are indicative of a higher open with the Euro Stoxx 50 +0.4% after the cash market closed up 1.0% yesterday.DXY sits above the 103.50 mark...

European bourses continue the positive Wall St/APAC action, with action slightly limited by Ascension DayStateside, futures edge into the green but are largely continuing sideways action ahead of WMT and substantive debt updatesDXY picks up to the detriment of peers as the Yuan falls further and AUD lags on jobs dataEGBs descend further with yield levels in focus while USTs are more contained pre-data/Fed...

APAC stocks were higher as the region took its cue from the momentum on Wall Street, although some of the gains were capped as participants digested soft data releases.US House Speaker McCarthy said he is optimistic about the ability to work together and said a debt ceiling deal by Sunday is doable.European equity futures are indicative of a higher open with the Euro Stoxx 50 +0.7% after the cash market closed up 0.2% yesterday.DXY sits...

European bourses & US futures are incrementally firmer in somewhat limited trade with corporate updates factoring and the focus on debt talksDAX 40 outperforms amid strength in Siemens & SAP; region follows mixed APAC trade, though Nikkei 225 surpassed 30kOverall, debt ceiling updates were slightly constructive, but the impasse does ultimately remainDXY briefly topped 103.00 as the Yuan continues to slip on soft data to the...