Newsquawk Rundown, Daily Podcast

Asian equity markets traded mixed; Chinese Caixin Services PMI topped expectationsUS equity futures traded flat overnight in the run-up to the FOMC announcementChina's most recent COVID-19 outbreak is reportedly the most widespread since WuhanThe UK reportedly seeks new legal advice to back possible changes to Northern Ireland protocolUS President Biden suggested that elevated gas and oil prices are due to a...

European bourses are diverging somewhat after a lacklustre open following the similar APAC handover, Stoxx 50 +0.1%US futures are mixed but relatively contained though the NQ -0.2% lags marginally given pressure in TSLA, -6.0% pre-marketDXY has been erring higher throughout the session to the detriment of peers with AUD lagging post-RBA; USTs are firmer and the yield curve steeperThe RBA maintained the Cash Rate Target at 0.10% but...

Asian equities traded mixed after failing to benefit from the momentum in the USStocks were firmer across major US indices with a clear tilt to small-cap Russell 2k vs SPX/NDXThe RBA maintained the Cash Rate Target at 0.10% but dropped the April 2024 government bond yield targetThe DXY remains sub-94.00, JPY has gained vs. the USD whilst AUD lags post-RBALooking ahead, highlights include EZ Manufacturing (Final)...

European bourses are firmer with US futures supported following the predominantly positive APAC lead, ES +0.4%Chinese official Manufacturing and Non-Manufacturing PMIs disappointed analysts’ forecastsThe Japanese general election saw the ruling LDP maintain a majority in the lower houseThe DXY has held on to 94.00 status, EUR/USD and GBP/USD sit on 1.15 and 1.36 handles respectively while safe-havens lag slightly on...

Asia-Pac bourses traded mostly higher amid tailwinds from last Friday's fresh record highs in the USChinese official Manufacturing and Non-Manufacturing PMIs disappointed analysts’ forecastsThe Japanese general election saw the ruling LDP maintain a majority in the lower houseThe DXY has held on to 94.00 status, EUR/USD and GBP/USD sit on 1.15 and 1.36 handles respectivelyHouse Democrats are seeking to pass the...

Equity bourses are pressured following a soft APAC handover and NQ (-1.0%) underperformance post-AAPL & AMZNApple (-3.9%) and Amazon (-4.8%) both initially fell over 5% post-earnings; both firms cited supply chain issuesRBA again refrained from defending the Apr 2024 bond yield; bond yield rose to above 0.80% vs RBA's 0.10% target; global yields are elevatedUS House Speaker Pelosi confirmed that the House vote on the Infrastructure...

Asia-Pac equities initially traded lower, but later painted a mixed picture; US equity futures traded with a downside biasApple (-3.5% AM) and Amazon (-4.0% AM) both initially fell over 5% post-earnings; both firms cited supply chain issuesFacebook (FB) to rebrand as "Meta" - new ticker "MVRS" to trade from December 1stRBA again refrained from defending the Apr 2024 bond yield; bond yield rose to 0.77% vs RBA's 0.10%...

European bourses are contained after a subdued APAC lead, with performance dictated by the packed earnings docket; ES +0.1%In FX, the DXY is modestly firmer but sub-94.00, though peers are mixed across the board and relatively contained overallAustralian bond yields spiked higher after the RBA refrained from purchasing the April 2024 yield-target bond; US yield curve is experiencing pronounced flatteningBCB hiked its Selic Rate by 150bps...

APAC equities traded mostly lower; US equity futures held onto an upside biasIn FX, the DXY was caged, AUD and CAD underperformed and USD/JPY drifted lowerAustralian bond yields spiked higher after the RBA refrained from purchasing the April 2024 yield-target bondBCB hiked its Selic Rate by 150bps (vs exp. 100bps hike); BoJ maintained policy settings and trimmed FY21 forecastsTaiwan's President said the threat...

APAC bourses adopted a downside bias, Hong Kong underperformed; US equity futures were flat/lowerIn FX, the DXY has been choppy with peers modestly pressured ex-JPY/CHF; core debt was diverging but has moved higher most recentlyMicrosoft and Twitter rose post-earnings whilst Alphabet and AMD dippedUS Senate Finance Committee Chairman has unveiled a tax proposal focused on unrealised gains of assets held by...