Newsquawk Rundown, Daily Podcast

APAC stocks were mixed in mostly rangebound trade as markets took a breather from recent banking sector jitters.FDIC confirms that First Citizens (FCNCA) is to assume all deposits and loans of Silicon Valley Bridge Bank.European equity futures are indicative of a higher open with the Euro Stoxx 50 +1.0% after the cash market closed down 1.8% on Friday.DXY lingers just above the 103 mark, EUR/USD languished beneath 1.08, USD/JPY capped by...

Equities are back under marked pressure as banking sector concern re-intensifies within Europe, Euro Stoxx 50 -2.3% & ES -0.8%.Specifically, the European banking index SX7P -5.0% is the standout laggard as CDS' for the stocks continue to rise & focus on the redemption of notes by Deutsche Bank and Lloyds; DBK -12%.USD and JPY benefit from the risk move with other G10 peers all succumbing to the USD's upside, DXY above 103.25 at...

APAC stocks were mostly subdued after the recent bout of central bank rate hikes.US Treasury Secretary Yellen said they are prepared for additional deposit actions if warranted.European equity futures are indicative of a lower open with the Euro Stoxx 50 -0.8% after the cash market closed up 0.3% on Thursday.DXY is contained around the 102.50 mark, JPY leads G10 FX, NZD lags, other majors are steady.Looking...

European bourses are softer while US futures are firmer, but still shy of Wednesday's best levels.USD remains on the backfoot after Wednesday's FOMC, Antipodeans lead and GBP rises pre-BoE.CHF and NOK benefitted from 50bp and 25bp hikes respectively; EGBs remain underpinned but off best following the hawkish action.USTs remain firmer with yields lower across the curve but slightly above the mid-week...

The Fed delivered a widely expected 25bps rate hike but dropped its reference regarding ‘ongoing’ rate hikes.Fed kept its terminal rate view at 5.10%, while the median view for rates in 2024 was raised to 4.3% from 4.1%.US Treasury Secretary Yellen told lawmakers that the Treasury is not considering insuring all uninsured bank deposits.APAC stocks traded mixed with price action choppy as markets digested the FOMC. US equity futures nursed...

Equities are firmer, ex-FTSE 100, as the constructive APAC tone continuesThough, action is contained in pre-FOMC action while the FTSE 100 lags post UK CPIA release that was unexpectedly hot and sparked a marked hawkish reaction, with Cable outperforming and Gilts lagging as suchDXY pressured on this with antipodeans also firmer while the safe-havens are little changed pre-FedCommodities are diverging slightly;...

APAC stocks sustained the momentum from Wall St. where the major indices rallied for a second consecutive day amid further stability in the banking sectorDXY was uneventful with price action across most of the FX space calm ahead of the FOMC; AUD outperformed on risk appetiteUS government officials discussed the idea of raising deposit insurance temporarily without approval from Congress, according to Reuters citing sourcesUS said there...

Sentiment remains constructive in Europe after a similar APAC handover with specific European-banking drivers limited.Stateside, the tone is in-fitting but to a slightly lesser extent awaiting updates to First Republic and the FDIC before Wednesday's FOMC.DXY has been pressured by the tone, with JPY giving back Monday's gains while the CHF attempts to recover.EGBs & USTS continue to pullback from earlier haven-induced peaks with...

APAC stocks mostly tracked the gains on Wall St where some of the banking sector jitters dissipated.US officials are examining ways to permit the FDIC to temporarily insure deposits beyond the current USD 250k cap on most accounts, according to Bloomberg.European equity futures are indicative of a higher open with the Euro Stoxx 50 +0.6% after the cash market closed up 1.3% on Monday.DXY is relatively rangebound and on a 103 handle,...

UBS (UBSN SW) is to acquire Credit Suisse (CSGN SW) for a total consideration of CHF 3bln; Credit Suisse’s additional tier 1 capital in the aggregate nominal amount of around CHF 16bln will be written off.Fed, BoE, BoC, BoJ, ECB and SNB agreed on coordinated action to enhance the provision of liquidity via the standing US dollar liquidity swap lines with daily 7-day maturity operations.European bourses began under marked pressure, but have since lifted into...