Newsquawk Rundown, Daily Podcast

Asian equity markets traded mostly higher as the region continued to benefit from the recent vaccine hopesWall Street saw mixed performance with a negative bias for tech stocks which suffered again from the rotation out of growth and into valueIn FX markets, the greenback was slightly softer but with price action contained amid rangebound trade in its major counterpartsRBNZ maintained the OCR at 0.25% and LSAP at NZD 100bln as expected, whilst announcing a Funding for Lending...

Value-growth rotation remains in force with European banks outperforming as is the Russell 2000 future +1.90% while NQ -1.9%NIH's Fauci that the Pfizer vaccine is a big deal and there are still questions about its durability, while he added Moderna's results are expected soonUS Senate Majority Leader McConnell said Congress should pass a limited stimulus bill before year-end, following encouraging vaccine data & Trump is 100% within his rights to look into possible election...

Asian equity markets were mostly higher as the region took its cue from the predominantly strong performance stateside where the S&P 500 and DJIA rallied to fresh record highsNote, the broader US market retraced some of the gains heading into the close amid several bearish factorsNIH's Fauci said that the Pfizer vaccine is a big deal but there are still questions about its durabilityIn FX markets, the USD has pulled back from...

AP, NBC, CNN, Fox and Edison Research have all called the election for Democrat Presidential candidate BidenEuropean bourses exhibit a strong start to the week following a similar APAC handover with US futures firmer by similar magnitudes; ES +1.6%, NQ +1.9%, YM +1.5%Saudi Energy Minister says that with consensus they can tweak the OPEC+ agreement; could be a tweak beyond what analysts have raisedTurkish President Erdogan removed central bank Governor Uysal and appointed former Finance Minister...

AP, NBC, CNN, Fox and Edison Research have all called the election for Democrat Presidential candidate BidenAsian bourses traded higher across the board and US equity futures were also lifted with risk appetite heightened post-election outcomeChinese trade balance and exports topped estimates, although imports disappointed to suggest a weak domestic consumer profileThe DXY languished around 2-month lows on a 92.00 handle; EUR/USD approached 1.19 and GBP/USD eyed 1.32Turkish President...

The electoral vote tally remains unchanged from yesterday with Biden at 264 votes, including Arizona (11 EC votes), and President Trump at 214 votesGeorgia (16 EC votes) counts now have Biden leading by over 1k votes; with Arizona, Biden would have 280 EC votes without AZ he would hold 269However, desks note it may not be possible to call Georgia Presidential race for weeks given how close the race isSentiment has slipped since the European cash open, ES -0.7%, though we are off lows with the...

The electoral vote tally remains unchanged from yesterday with Biden at 264 votes (including Arizona) and President Trump at 214 votesThe key states still to be declared include Nevada (6 votes), Georgia (16 votes), North Carolina (15 votes) and Pennsylvania (20 votes)FOMC left rates unchanged at 0.00%-0.25% as expected and affirmed its accommodative stanceAsian equity markets traded mixed with the region only partially sustaining the momentum from Wall Street where the post-election rally...

The winner of the US Presidential Election has still yet to be declared, although Democrat Candidate Biden leads in electoral votesIn the immediacy, we are expecting updates from Nevada (6 ECV) from 12:00ET/17:00GMT today while Arizona (11 ECV) is not expected until after 21:00ET Thursday / 02:00GMT FridayCurrently, US equity futures are firmer with ES +1.8%, NQ +2.7%, YM +1.0%; DXY has dropped below the 93.00 mark and the yield curve is bull-flatteningBoE increased the asset purchase programme...

The winner of the US Presidential Election has still yet to be declared, although Democrat Candidate Biden currently leads in electoral votesFox News tallies President Trump at 214 vs. Biden at 264, while CNN tallies President Trump at 213 vs. Biden at 253The race has also been complicated by the threat of legal action with the Trump campaign reportedly considering legal action in several statesAsian equity markets were higher across the board as the region took impetus from global peers...

US ELECTION UPDATEAs things stand, the outcome of the US election is finely poised: early doors, the ‘Biden playbook’ was seen, but as the former Vice President failed to take some of the key states he would have needed to in order to put the election to bed on the night (Southern states are still up in the air, while key state Florida is too close to be called), there was a shift in betting markets which pivoted and began pricing Trump as favorite to retain the Presidency. However, even that impulse...