Newsquawk Rundown, Daily Podcast

Asian equity markets traded positively as the region took impetus from the gains on Wall St where sentiment was underpinned by coronavirus treatment hopesFOMC left rates unchanged via unanimous decision and is to continue asset purchases in amounts needed to support market functioning and policy transmissionFed made no mention of forward guidance or YCC in the statement and the dollar amount of asset purchases was also withdrawn from the textNIH’s Dr. Fauci said the data showed Remdesivir had a...

European bourses are modestly firmer after a flat/mixed open, US futures are slightly firmer than EU peers ahead of large-cap earnings, US GDP/PCE & FOMCUS Senate Majority Leader McConnell said he is certainly open to considering more aid for state and local governmentsFitch downgraded Italy by one notch to BBB-; Outlook Stable – BTP’s lag but have pulled back somewhat; BTP-Bund yield spread within recent rangesFX sees the USD softer with most counterparts benefiting aside from GBP, hit via...

Asian equity markets were mostly higher and US equity futures also recovered from the tech-led declines on Wall StAlphabet shares were seen higher by around 8% after hours post-earnings as revenues topped expectationsFitch downgraded Italy by one notch to BBB-; Outlook Stable. Italy says that economic fundamentals remain solidIn FX markets, the DXY remained softer following the recent decline below the 100.00 level ahead of upcoming key risk events statesideLooking ahead, highlights...

European bourses initially opened unchanged but have strengthened significantly in what has been a relatively quiet session ahead of upcoming risk eventsFed expanded scope and duration of municipal liquidity facility and increased the duration of eligible securities to 3 years from 2 yearsFX sees the USD softer to the benefit of counterparts particularly JPY with USD/JPY comfortably below 107.00; while SEK strengthened post RiksbankPresident Trump suggested the US is not happy with China and are...

Asian equity markets were mixed as a deluge of earnings and continued oil rout offset the momentum from Wall St.The DXY was marginally firmer after support at the 100.00 level just about held but with price action limitedPresident Trump suggested the US is not happy with China and is doing a serious investigation of China's actions in response to the coronavirus outbreakWTI crude futures extended on its rout with another double-digit percentage loss to briefly break below USD...

European bourses are stronger this morning following the APAC lead, US futures are firmer but to a lesser extent ahead of Fed and on the busiest week of earnings this quarterBoJ kept NIRP at -0.1% and long term JGB yield target at around 0% but pledged to buy unlimited JGBs and increased its purchases of corporate bonds and commercial paperNew York Governor Cuomo said the state will follow the CDC’s recommendation to wait until hospitalization rates decline for 14 days before opening upFX sees...

Asian equity markets were mostly positive with sentiment underpinned by optimism regarding the reopening of global economiesUS government trial of Gilead's (GILD) Remdesivir is running ahead of schedule and results from the trial could be possible by mid-MayUK PM Johnson could announce plans for easing the lockdown as early as this week after returning to Downing StreetItaly PM Conte announced the nation is to begin lifting the lockdown from May 4th with retailers set to open on May...

Sentiment is divergent: bourses subdued in Europe after EU leaders meeting while US futures firm upUS House voted to pass the USD 484bln coronavirus package bill as expected; Trump to sign in a noon ceremonyEUR weakness initially boosted the USD, but the DXY has yet to eclipse early April highs at 100.94 as weakness in peers has diminished with the DXY recently turning negative on the dayUS Treasury Secretary Mnuchin said they are mulling a lending facility for struggling oil...

Asian equity markets traded mostly negative following the lacklustre handover from US where major indices retraced their initial oil-inspired gainsThe DXY was firmer overnight and back above 100.50 as the soured risk tone helped the safe-haven claw back the lost groundGilead's Remdesivir reportedly flopped in the first randomized clinical trial according to draft documents obtained by the FTEU leaders talks ended with no agreement on the recovery packageEU Commission President Von Der...

European bourses are marginally softer at present, dented on abysmal PMI numbers and ahead of the EU Leaders meetingEU recovery plan could trigger EUR 2tln of spending and investment, recovery find would allow Commission to raise EUR 320bln on the marketEU is looking to launch the recovery fund on 1st January 2021; however, Italy state they cannot wait until even June for the approvalIran's Guards Chief says US ships will be destroyed if they threaten Iranian ships; crude is bolstered on the...