Newsquawk Rundown, Daily Podcast

Asian equity markets were higher across the board as the region received much-needed reprieve from the recent sell-offUS equity futures have performed better after-hours with the Emini S&P and DJIA back above the 3k and 19k levels respectivelyUS Senate stimulus bill failed to get enough votes to clear the first procedural hurdleSenate Majority Leader McConnell suggested that the delays could push the stimulus package to FridayUS President Trump said he will have an announcement soon...

Asian stock markets mostly traded with hefty losses and US equity futures hit limit down amid further coronavirus-related disruptions and a rising death tollUS Senate voted 47-47 on the coronavirus bill which failed to reach the 60 votes required to pass the first procedural hurdleUS Senate Majority Leader McConnell initially said the Senate will re-vote on the motion to proceedGerman Government intends to set up a rescue package of EUR 500bln for companies and banks, authorize EUR 350bln in new...

Sentiment was bolstered on the ECB measures; but failed to hold to the optimismECB announced EUR 750bln Pandemic Emergency Purchase Programme, conducted until end-2020Fed announced to launch mutual money market fund facility to lend to financial institutionsRBA lowered Cash Rate Target by 25bps to 0.25% and announced QE as speculatedLooking ahead, highlights include US Initial Jobless Claims, SARB Monetary Policy...

Asian equity markets extended on losses with price action turbulent amidst ongoing coronavirus fears and disruptionsECB announced EUR 750bln Pandemic Emergency Purchase Programme, conducted until end-2020Fed announced to launch mutual money market fund facility to lend to financial institutionsRBA lowered Cash Rate Target by 25bps to 0.25% and announced QE as speculatedIn FX, DXY remained firm above 101.00,...

US Equity futures have resided at limit-down throughout the European sessionDebt complex has been heavily subdued while the DXY has printed fresh YTD highsFed established a primary dealer facility to support market function beginning March 20th which will last at least 6 months for 90-day loansFormer VP Biden was declared winner in the Florida, Illinois and Arizona Democrat primariesLooking ahead, highlights include US Building Permits and Housing Starts, Canadian CPI, DoEs, NZ GDP,...

Asian equity markets were indecisive as the region failed to sustain the rebound on Wall St from its worst sell-off since 1987UK Chancellor Sunak announced new measures including cash grants, tax holidays, mortgage moratoriums and lending facilitiesCanada is to announce a CAD 27bln economic and aid package today to offset the coronavirus impactDXY slightly pulled back overnight but held on to the majority of gains seen in the prior session where it surged above 99.00Looking ahead,...

European equities found mild reprieve following touted US stimulus measures; Spain’s IBEX outperforms on short-selling banUS Treasury Secretary Mnuchin is said to be seeking USD 850bln package or more of stimulus, according to Politico citing sourcesIn FX, the Greenback gains more ground above 99.00 vs. a sub-98 low, as such G10 pairs are pressuredLooking ahead, highlights include US retail sales, industrial production, business...

Asia-Pac equity markets traded mixed and US equity futures hit limit up overnight as stock markets attempted to nurse the recent heavy lossesUS President Trump suggested the worst of the virus outbreak could be over by July/August, perhaps laterUS Treasury Secretary Mnuchin met with GOP Senators and said he is seeking a large number for additional coronavirus stimulus legislationIn FX, the greenback was lacklustre around the 98.00 level....

FOMC cut the Fed Funds Rate 100bps to 0.00%-0.25% and launched a USD 700bln QE programRBNZ lowered the OCR by 75bps to 0.25% in an emergency meeting and stated that the OCR is to remain at 0.25% for at least a yearBoJ held an emergency monetary policy meeting in which it kept short-term rates at -0.10% and maintained long-term yield target at 0%, but raised purchases of ETFs and J-REITsEuropean equities continue to erode in early trade...

FOMC cut the Fed Funds Rate 100bps to 0.00%-0.25% and launched a USD 700bln QE programBank of Canada cut its key overnight interest rate by 50bps to 0.75% from 1.25% and stands ready to adjust monetary policy further if requiredRBNZ lowered the OCR by 75bps to 0.25% in an emergency meeting and stated that the OCR is to remain at 0.25% for at least a yearBoJ held an emergency monetary policy meeting in which it kept short-term rates at...