Newsquawk Rundown, Daily Podcast

European bourses are modestly softer this morning with downside emanating as we approach US hours; ES -0.2%, below 3500GBP took fleeting impetus from reports the UK will not immediately walk away from Brexit talks with the PM said to decide the path on FridayIEA monthly oil market report left 2020 & 2021 demand forecasts broadly unchanged; a release which seemingly sparked modest crude support, albeit short-livedLooking ahead, highlights include ECB's Lane & Mersch, Fed's Clarida &...

APAC stocks traded with little in the way of conviction and within tight ranges following a downbeat Wall Street handoverEli Lilly's (LLY) trial of its coronavirus antibody treatment has been paused over safety concernsSenate Majority Leader McConnell said he will table a stimulus proposal for USD 500bln next week; House Speaker Pelosi reportedly said she has no intention to meet McConnell in the middleBoK and MAS left policy settings unchanged as expectedLooking ahead, highlights...

European bourses are subdued in a scaling back of yesterday’s gains with similar performance in ES & Dow but Nasdaq outperforms +0.7%Johnson & Johnson (JNJ) COVID-19 study paused due to unexplained illness in a participantWhite House has reportedly asked Congress to approve three separate arms packages to Taiwan; sparking pushback from ChinaChinese Customs spokesman said they are paying attention to the impact of the USD/CNY fluctuationsFX features a firmer but rangebound USD to...

APAC markets traded mixed; Australia outperformed, Hong Kong trade was cancelledJohnson & Johnson confirmed they have paused all dosing in Janssen COVID-19 vaccine candidate trials due to an unexplained illnessChinese Customs spokesman said they are paying attention to the impact of USD/CNY fluctuationsWhite House has reportedly asked Congress to approve three separate arms packages to TaiwanIn FX, DXY was firmer, EUR/USD dipped below 1.1800, AUD underperformed, USD/CNH rose above...

European bourses/US futures have been choppy but ultimately exhibit modest gains this morning; ES +0.3%US House Speaker Pelosi said we remain at an impasse in COVID-19 aid talks; Mnuchin and Meadows have called for immediate use of remaining PPP fundsPresident Trump states he no longer has COVID-19 and has requested his campaign places him on the road every day from now while the 15th Oct debate has been cancelledEU leaders are to insist on tough enforcement for any UK trade deal; UK PM Johnson...

APAC equity markets kicked the week off mixed; Chinese markets outperformed, Nikkei laggedPBoC lowered its RRR on FX forwards for financial institutions to 0% from 20% starting todayUS House Speaker Pelosi said we remain at an impasse in COVID-19 aid talks; Trump admin has called on Congress to pass a stripped-down version of the relief billEU leaders are said to be drawing up a “hit list” of up to 20 large-cap tech companies; EU has asked US to withdraw punitive tariffs or prepare for additional...

US futures are firmer given overnight stimulus comments and deriving further strength as US participants approachSpeaker Pelosi & Treasury Secretary Mnuchin spoke again while Trump is reportedly open to more than a skinny billPresident was concerned by the market reaction to him walking away from stimulus discussionsUK Chancellor Sunak to announce a new job-support scheme; separately, EU diplomats believe Brexit talks are yet to make enough progressFX features a downbeat DXY at fresh...

Asian equity markets traded mixed but with a mildly positive bias as US equity futures extended on the prior day’s gainsPresident Trump noted optimism that stimulus talks are beginning to work and was said to be open to something larger than a skinny billPresident Trump was said to be worried about the stock market reaction from the decision to walk away from stimulusIn FX, the DXY was lacklustre below 93.50, EUR/USD trades firmer and GBP/USD sits above 1.2950RBI maintained the...

European bourses & US futures are firmer in choppy trade amidst limited new fundamental catalystsUS Vice Presidential debate saw Harris & Pence exchange blows in an attempt to discredit the records of both Presidential candidates; CNN poll shows Harris winning the debateFX is relatively rangebound with a choppy DXY meandering the U/C mark at present as antipodeans outperformIn terms of fixed income, USTs are exhibiting mild flattening in contrast to the steepening action seen throughout...

Asian equity markets traded mostly positive as the region took its cue from the rebound in the USFOMC minutes provided little in the way of fresh information with no greater clarity on how far the Fed would permit inflation to overshoot its targetIn FX markets, the DXY is modestly softer, but above 93.50, EUR/USD is little changed and GBP/USD extended gains above 1.2900The US Vice Presidential debate saw Harris and Pence exchange blows in...