Newsquawk Rundown, Daily Podcast

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 offFed, 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 operationsAPAC stocks were on the back foot amid ongoing banking sector jitters, Hong Kong...

European bourses are firmer across the board, Euro Stoxx 50 +0.4%, as recent liquidity action settles sentiment on Quad Witching Friday.Stateside, futures are essentially unchanged having eased from initial best levels around the European open with attention on US banking namesDXY is subdued, though back above, 104.00 to the broad-based benefit of peers; PBoC cut its RRR by 25bp.EGBs/USTs action has been markedly more contained thus far,...

US stocks gained with the Nasdaq leading advances; Asian stocks rose amid improved global risk appetite following recent bank lifelinesDXY is subdued amid improved risk tone, while the Fed's balance sheet jumped to its highest since November as banks rushed for liquidityCrude futures are mildly higher as some banking sector fears are allayed, although WTI remains below USD 70/bblCredit Suisse is being sued by shareholders in the US over a...

European bourses are bolstered amid as the region reacts to liquidity support for Credit Suisse (+18%), Euro Stoxx 50 +0.7%, though the tone is tentative pre-ECB.CS took action incl. borrowing CHF 50bln from the SNB and undertaken tender offers for notes; FINMA/SNB say the Co. meets liquidity requirements.Stateside, futures are mixed and near unchanged levels overall with several data points due.USD is softer on the session with G10...

APAC stocks were mostly lower, following global peers after Credit Suisse turmoil yesterday.Swiss National Bank (SNB) and FINMA to provide liquidity to Credit Suisse if necessary.US bank giants reportedly reduced direct exposure to Credit Suisse for months.European equity futures are indicative of a higher open with the Euro Stoxx 50 +2.0% after the cash market closed down 3.5% on Wednesday.DXY is a touch softer...

Equities are under marked pressure as sentiment sees a significant deterioration as Banking names slump, SX7P -5%, amid renewed focus on Credit Suisse, -18%.Saudi National Bank said they will not provide more assistance to Credit Suisse; Saudi National Bank is the largest shareholder with a 9.9% stake.An update which has added to banking concerns globally and particularly within Europe, sparking a marked deterioration in sentiment and...

US equities were firmer on Tuesday, led by the tech sector, while financials recovered some of the losses from Monday's sell-offAPAC stocks followed suit with gains, as banking contagion fears eased, and markets found relief in the absence of additional bank failuresFX markets were indecisive, with the DXY slightly softer, EUR/USD initially stronger, and GBP/USD choppyUS military confirmed that a Russian fighter jet struck the propeller...

European bourses are posting tentative gains, Euro Stoxx 50 +0.2%, as the risk tone remains fragile given financial stability concerns.Stateside, futures are modestly firmer but have been unable to claw back any of Monday's marked downside, ES +0.4%, ahead of February's CPI.The European banking sector is under further pressure amid a Credit Suisse announcement of material weakness in their 2021/22 financial reporting.The DXY is firmer and...

APAC stocks declined amid a continuation of the selling in financials and with risk appetite constricted.European equity futures are indicative of a marginally higher open with the Euro Stoxx 50 +0.1% after the cash market closed down 3.1% on Monday.DXY is firmer but still on a 103 handle, JPY lags peers, EUR/USD hovers just above 1.07.10yr UST futures pulled back from the historic bull-steepening on Monday whereby yields tumbled amid...

Fed said it is to provide liquidity to US depository institutions in which each Federal Reserve bank would make advances to eligible borrowers.European bourses are under substantial pressure, with banking names leading the downside as contagion concern continues, SX7P -5.5%.Stateside, futures have been faring comparably better given backstop measures; though, they are well off best with ES U/C while large & small banking names are heavily...