Newsquawk Rundown, Daily Podcast

Asian equity markets traded mostly higher as the region attempted to pick up from the weak handover from Wall StreetIn FX, the DXY remained below the 92.50 level, EUR/USD modestly extended gains, GBP/USD sits above 1.3250France is understood to have accepted there will be reduced fishing access to UK waters post-Brexit, according to The TelegraphDowning Street was said to push back on the idea of an imminent Brexit deal, according to Times Radio’s Newton DunnFed Chair Powell noted it was...

European bourses have begun the session with modest losses, which have picked up as US participants enter the fray, amid a lack of fundamental updatesTesla (TSLA) is to join S&P 500 prior to the open on December 21st, +12% in pre-market; Co. they are replacing will be announced prior to thisBrexit Negotiators are reportedly zeroing in on a trade deal as early as next week, sparking upside in Cable; note, such commentary is in-fitting with prior updatesFX features a rangebound, but subdued USD...

Asian equity markets were somewhat indecisive and only mildly benefitted from the performance on Wall St where both the S&P 500 and DJIA posted record levelsUK Chief Brexit Negotiator Frost told UK PM Johnson to expect a Brussels trade agreement early next week, according to The SunAn EU diplomat also suggested the EU is ready to find a creative solution to avoid an accidental no-deal Brexit, according to the TelegraphIn FX markets, the DXY trades modestly firmer above 92.50, EUR/USD hovers...

Value outperforming growth once again (RTY +1.0%/NQ +0.5%) while European bourses are off highs as this price action emerges in Europe as wellUS President-elect Biden is poised to speak today on plans for a post-COVID economic recovery and longer-term growth, tentatively scheduled for 13:45EST/18:45GMTUS President Trump reportedly plans a last-minute crackdown on China and will enact a series of hard-line policies in his final weeks, according to senior administration officialsEU Officials...

Asian bourses kickstarted the week on the front foot and US equity futures extended on last Friday’s gains; ASX encountered technical problemsUS President-elect Biden is poised to speak today on plans for a post-COVID economic recovery and longer-term growth, tentatively scheduled for 13:45EST/18:45GMTUS Operation Warp Speed Chief reiterated that they are hopeful for another positive vaccine update from Moderna (MRNA) this weekUS...

European bourses are mixed/firmer after a tepid open with European sectors illustrating changing dynamics throughout the morning in-spite of quiet newsflow; ES +0.7%, NQ +0.8%, RTY +0.8%FX features a depressed DXY with major peers largely firmer while fixed is firmer but off highs ahead of more central bank speakGilead's (GILD) antiviral remdesivir should not be used as a routine treatment for COVID-19 patients in critical care wardsLooking ahead highlights include US University of Michigan,...

Asian equity markets weakened on spill-over selling from Wall Street; Hong Kong laggedWhite House confirmed an executive order prohibiting US investments in firms deemed to be owned or controlled by China’s militaryFed Chair Powell said the recovery in the US has been faster than expected but it has slowedMexican Central Bank unexpectedly maintained rates in which only one member voted for a 25bps cutEU...

US futures are mixed with ES flat as NQ outperforms +0.5% with the RTY lagging -0.3% in a continuation of yesterday’s pause in rotation dynamics; also evidenced via European sectorsUS, UK & EU have condemned China for the legislation taken against Hong Kong calling for it to be immediately removed; UK is considering sanctions in responseBoE Governor Bailey says we have talked about yield curve control & does not have a date in mind for the negative rate review165 critics of Google have...

Asian equity markets traded mostly lower as sentiment gradually deteriorated from the mixed performance statesideUS President-elect Biden's current lead in Pennsylvania is reportedly larger than the margin for a recountUS National Security Adviser O'Brien said the US will sanction those responsible for Hong Kong freedom violationsIn FX, DXY traded on either side of 93.00, EUR/USD and GBP/USD were lacklustre, JPY...

Equities have seen a modest pause of the rotation exhibited since the PFE/BNTX update, evidenced via European sectors and NQ/RTY dynamics; US futures all broadly firmerGoldman Sachs has raised its 2020 S&P 500 target to 3700 from 3600, sees it reaching 4200 by the end of 2021 and 4600 by the end of 2022EU and UK negotiators are said to be likely to miss the mid-November (15th November) deadline to reach an accord on a new trade deal, sources stateRBNZ maintained the OCR at 0.25% and...