Newsquawk Rundown, Daily Podcast

Asian equity markets began the new month higher across the board as the region sustained the late relief seen last Friday on Wall StreetUS President Trump’s press conference on Friday saw the US leader revoke Hong Kong’s special status but refrained from making any adjustments to the China trade dealThis underpinned sentiment in Asia and helped US equity futures recoup the initial losses that were triggered by nationwide violent protests and mixed Chinese PMI data over the weekendOfficial Chinese...

US President Trump is to announce actions against China today in response to the HK bill – timing currently unknownPOTUS is reportedly to cancel visas of some Chinese students with links to the PLA, WSJChina's Foreign Ministry reiterates they are determined to take countermeasures against the US in relation to its actions over Hong Kong; prepared to take all necessary measuresSentiment remains tentative, with month-end flows also playing a role, aiding EUR/GBP and fixed income most notably thus...

Asia-Pac indices mostly declined following the late selling pressure on Wall St. after President Trump announced a press conference on China later todayNEC Director Kudlow reiterated that the Phase One US-China trade deal is still on for nowUS President Trump signed an executive order on social media companies which means they will no longer have a liability shieldUK reportedly seeks to form an international alliance of 10 democracies or “D10” to create alternative suppliers of 5G...

China's Parliament has voted to approve the Hong Kong National Security Bill, as expected while the US House passed bill calling for sanctions on Chinese officials related to the crackdown on Uighur minorities as expectedChinese Gov’t advisors say Beijing is “prepared for the worst case scenario” with the USAction in the equity space sees some divergence with European bourses modestly firmer while US futures are mixed as the Nasdaq lags once...

Asian equity markets traded mixed as China concerns counterbalanced the momentum from a firm Wall St handoverUS Secretary of State Pompeo said he has certified to Congress that Hong Kong is no longer autonomous from ChinaUS President Trump administration is reportedly considering suspending Hong Kong's preferential US tariff rate for exports to USHuawei CFO lost the double criminality aspect of the US extradition case in Canadian court and the Canadian judge is mulling whether to proceed with...

EU Commission are reportedly to mobilise EUR 750bln for the recovery fund, with EUR 500bln in grants & EUR 250bln in loans; additionally, to propose a budget of EUR 1.1trlSentiment strengthened on these reports with stocks, alongside US futures, climbing to session highs alongside EU periphery bonds surging higher as the core pulled backFX sees the EUR continuing to strengthen on such reports which, alongside the improving sentiment, is weighing on the USDUS President Trump said that the US...

Major US indices finished higher although staggered heading into the close after reports the US is considering sanctions on Chinese officials and firmsUS President Trump said we will hear about US actions on China by the end of the weekThe DXY nursed the prior day’s losses to reclaim the 99.00 handle, EUR/USD trade around 1.0950, GBP/USD remains above 1.2300UK Chancellor Sunak is set to announce this week that the government will soon stop allowing companies from placing employees on the furlough...

Sentiment remains strong with the e-mini S&P above the 3k handle as US futures outperform their European bourses in a relatively quiet sessionNovavax (NVAX) reports that it has begun a clinical Phase 1 trial of a COVID-19 vaccine candidateOn Brexit, the EU are preparing to drop its "maximalist" approach to negotiations on fisheries, according to sourcesBoE’s Haldane says the BoE have not remotely come to a view on NIRPFX sees the USD softer weighed on by general sentiment and...

Asian equity markets began the week mostly higher following last Friday’s recovery on Wall St. where the US major indices gradually clawed back opening lossesThousands of protesters rallied in Hong Kong on Sunday against China’s national security lawUS announced it will include 33 Chinese firms and institutions in an economic blacklistThe Oxford University COVID-19 vaccine has only around a 50% chance of success, according to the Professor leading the development of the drugDXY was...

China’s NPC meeting confirmed no GDP target for 2020 & reiterated intentions to implement the Phase One US-China dealChina's draft Hong Kong legislation stated that Hong Kong should finish enacting as soon as possible the regulations in basic law regarding national security; HK activists reportedly intend to protest thisAPAC indices were heavily weighed upon on the NPC & HK newsflow, sentiment which has hit European bourses & US futures; albeit, currently off lowsFixed is firmer and...