Newsquawk Rundown, Daily Podcast

European bourses are firmer across the board with a clear cyclical bias; US futures are in the green with RTY outperformingUS Conservatives on both sides of the Capitol are reportedly plotting to force a government shutdown FridayChinese Caixin Manufacturing PMI fell short of estimates and slipped back into contraction territoryThe DXY traded on either side of 96.000 whilst TRY whipsawed on CBRT intervention and Erdogan...

Asian equity markets traded mostly positive as regional bourses atoned for the prior day’s lossesUS equities closed lower (S&P 500 -1.9%) amid ongoing COVID concerns and comments from Fed Chair PowellChinese Caixin Manufacturing PMI fell short of estimates and slipped back into contraction territoryThe DXY is back below 96.00 with activity currencies leading gains against the greenbackLooking ahead,...

Initial momentum for APAC equities was faded; European stocks remain under pressureThis sentiment has seeped into US equity futures; RTY lags, NQ is cushioned by softer yieldsModerna chief predicts that existing vaccines will be much less effective against the Omicron variantWSJ reported Regeneron's and Eli Lilly's COVID antiviral cocktails had lost efficacy vs the Omicron variantOxford University said there is...

Initial momentum for APAC equities was faded amid downbeat comments from the Moderna CEOModerna chief predicts that existing vaccines will be much less effective against the Omicron variantChinese Manufacturing PMI (Nov) 50.1 vs. Exp. 49.6 (Prev. 49.2)Fed Chair Powell stated that the Omicron variant pose downside risks to employment and increased uncertainty for inflationThe DXY heads into the European session...

Bourses in Europe are experiencing a mild broad-based rebound; US equity futures also see gains across the board  South African Medical Association Chairwoman Coetzee said the new Omicron variant has resulted in mild symptoms so far  DXY resides in a tight range, activity currencies are faring well; Friday's outperformers lag  OPEC is to delay this week's JTC and JMMC meetings by two days. OPEC and OPEC+ meeting dates...

Asia-Pac stocks traded cautiously and US equity futures rebounded from Friday’s hefty sellingSouth African Medical Association Chairwoman Coetzee said the new Omicron variant has resulted in mild symptoms so farNIH Director Collins is optimistic that current vaccines are likely to protect against the OmicronThe DXY has attempted to claw back some of Friday's losses. Activity currencies are faring wellOPEC is to...

European equities are trading markedly lower (Stoxx 600 -2.9%) with losses in the Stoxx 600 extending to 3.8% WTD; ES -1.9%, RTY -4.2%The new variant is said to be the most evolved strain so far, prompting fears that it could be worse than DeltaUSTs and Bunds are notably firmer and safe-havens (JPY, CHF) lead the way in the G10 FX spaceWTI crude futures declined 6% to breach the USD 73.00/bbl level to the...

Asian equities and US futures are on the backfoot with markets spooked by new COVID variant concernsThe new variant is said to be the most evolved strain so far, prompting fears that it could be worse than DeltaUSTs and Bunds are notably firmer and safe-havens (JPY, CHF) lead the way in the G10 FX spaceWTI crude futures declined nearly 3% to breach the USD 76.00/bbl level to the downsideLooking ahead, highlights...

Asian equities traded mixed following the mostly constructive lead from the US which saw the NQ outperformFOMC minutes showed that some policymakers wished for a faster pace of purchasesIn FX, the DXY has marginally retreated after approaching 97.00, EUR/USD briefly lost 1.12 statusLooking ahead, highlights include German GDP, Riksbank Rate Decision, ECB Minutes, ECB's Elderson, Schnabel, Lagarde, supply from Italy. US market closures for...

European bourses are subdued after initial firmer/mixed performance faded on German COVID-19 concerns, DAX -0.9%, ES -0.4%German coalition announcement due ~14:00GMT/09:00EST, focus on any COVID commentary given recent outgoing-government rhetoricDXY has risen to fresh YTD highs though JPY retains a modest bid while Bunds have whipsawed on COVID and poor issuance, USTs comparably more contained pre-dataRBNZ hiked the OCR by 25bps to 0.75%...