Podcasts about fed's bostic

APAC stocks traded mixed with headwinds following the tech-led declines stateside ahead of Nvidia earnings.European equity futures indicate a contained open with Euro Stoxx 50 future +0.1% after the cash market closed down 0.1% on Tuesday.DXY lingers around the 104 mark, EUR/USD maintains 1.08 status and antipodeans outperform again.Bund futures remain subdued and Crude futures moved off the prior day's lows.Looking ahead, highlights include EZ Consumer Confidence, NZ Trade, Australian PMI, FOMC Minutes, Comments from Fed's Bostic, Bowman & BoE's Dhingra, Supply from UK, Germany & US.Earnings from Rio Tinto, Glencore, HSBC, BAE Systems, Fresenius, NVIDIA, Analog Devices & Synopsys.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses are generally firmer, though the FTSE 100 lags after significant underperformance in Glencore & HSBC; US futures lower pre-NvidiaDollar is incrementally firmer, Antipodeans bid in tandem with strong Chinese equity trade overnightBonds are mixed but edging higher in recent trade post-supply; attention on US 20yr supply later todayCrude is softer and Gold is modestly firmer with specifics lightLooking ahead, EZ Consumer Confidence, NZ Trade, Australian PMI, FOMC Minutes, Comments from Fed's Bostic, Bowman & BoE's Dhingra, Supply from the US, Earnings from NVIDIA, Analog Devices & SynopsysRead the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks were mostly subdued after last Friday's red-hot jobs report; Chinese regulators pledged to stabilise the market.Fed Chair Powell repeated his expectation that the March meeting is likely too soon to have confidence to start rate cuts.European equity futures indicate a contained open with Euro Stoxx 50 future flat after the cash market closed up 0.3% on Friday.DXY is contained around the 104 mark, EUR/USD is sub 1.08, USD/JPY has oscillated around 148.50.US and UK carried out strikes against 36 Houthi targets; White House's Kirby said more action will follow.Looking ahead, highlights include German Trade Balance, EZ PMI, Sentix Index, Producer Prices, US ISM, Japanese Household Spending & Overtime Pay, BoC Market Participation Survey, Fed SLOOS, Comments from BoC's Macklem & Fed's Bostic, Supply from EU, Earnings from Vodafone, McDonald's, NXP Semiconductors & Caterpillar.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European equities are mixed, with clear outperformance in the FTSE MIB, propped up by UniCredit (+8.7%) post-earnings; US equity futures are modestly softer, though the RTY underperformsDollar is firmer continuing Friday's advances, which has been leading the EUR towards December lows.Bonds are softer post-NFP and Chair Powell's weekend commentary as attention turns to US ISM & other Fed speakCrude futures are pressured by the firmer Dollar and awaiting further geopolitical news.Looking ahead, US ISM, Japanese Household Spending & Overtime Pay, BoC Market Participation Survey, Fed SLOOS, Comments from BoC's Macklem & Fed's Bostic, Earnings from McDonald's, NXP Semiconductors & Caterpillar.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks traded mixed with the region mostly negative after the unwinding of central bank rate cut pricing.European equity futures are indicative of a contained open with Euro Stoxx 50 future flat after the cash market closed down 1.0% on Wednesday.DXY is a touch softer vs. peers, EUR/USD eyes 1.09, USD/JPY failed to hold above 148.Crude futures marginally extended on the prior day's rebound amid geopolitical risks, Bunds languish near monthly lows.Looking ahead, highlights include US Building Permits, IJC, Philly Fed Business Index, NZ Manufacturing PMI, Japanese CPI, ECB Minutes, BoE Credit Conditions Survey, comments from Fed's Bostic & ECB's Lagarde, supply from Spain, France & US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses are mixed, with clear outperformance in the CAC 40 as Richemont earnings lift the luxury sector; US equity futures trade in tandem, with NQ leading amid tailwinds from TSMC earnings.Dollar is flat with a slight negative bias, Antipodeans are bid in-fitting with risk tone, and JPY trims some of yesterday's losses.Bonds contained in catalyst-thin trade; Treasuries grind higher attempting to pare US Retail Sales low, Bunds underperform amid the recent hawkish ECB rhetoric.Crude is firmer amid continued geopolitical tensions; base metals are modestly firmer, in-fitting with risk tone, and precious metals move with the Dollar.Looking ahead, US Building Permits, IJC, Philly Fed Business Index, NZ Manufacturing PMI, Japanese CPI, ECB Minutes, Comments from Fed's Bostic & ECB's Lagarde, Supply from the US, Earnings from United Airlines.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks were mostly rangebound after the lack of significant incremental catalysts over the weekend.Taiwan ruling DPP's William Lai won the presidential election with around 40% of votes, although the party did not win a parliamentary majority.Fed's Bostic (voter) warned that US progress on inflation is likely to slow and believes rates need to stay on hold until at least summer, via FT.US congressional leaders have reached an agreement on a stopgap spending bill through March 1st and March 8th.European equity futures are indicative of a higher open with Euro Stoxx 50 future +0.4% after the cash market closed lower up 0.9% on Friday.DXY caged in tight 102.30-55 parameters, JPY lags G10 FX, EUR/USD oscillated around 1.0950.Looking ahead, highlights include German Wholesale Price Index, Full Year GDP, EZ Total Trade Balance, Industrial Production, BoC's Business Outlook Survey. US Cash Markets are Closed for Martin Luther King Jr Day.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European and US Futures are modestly lower, amid the broader negative risk toneBoeing -8.5% pre-market after the FAA ordered a grounding/inspection of 737 Max 9 operated by US airlinesDollar holds within a tight range; Antipodeans lag & JPY bid in-fitting with the risk-averse environmentBonds divergent, with Treasuries holding around flat whilst Bunds dip lowerCrude is markedly lower alongside base metals, hampered by a firmer Dollar and the toneLooking ahead, US Employment Trends, Consumer Credit, NY Fed Survey of Consumer Expectations, Japanese All Household Spending & Tokyo CPI, Speech from Fed's Bostic, Earnings from Brunello Cuccinelli.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks eventually traded mixed after a subdued start to the session with news flow light and the BoJ failing to induce any macro price action.JPY was hit after the BoJ unanimously left its rate and YCC unchanged, whilst forward guidance was also maintained and the Bank acknowledged the recent cooling in inflation.Fed's Daly (2024 voter) said it is appropriate for the Fed to begin looking ahead to lowering interest rates in 2024 because of how inflation has improved this year.The US and its allies agreed to a Red Sea naval task force, according to Associated Press; Yemen Houthi officials said the group will be able to confront any possible coalition that could be formed by the US in the Red Sea.Looking ahead, highlights include EZ HICP (Final), US Building Permits/Housing Starts, Canadian CPI, Japanese Trade Balance, NBH Announcement, Fed's Bostic, Goolsbee; BoE's Green; ECB's Elderson, and Supply from the UK.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

BoJ maintained policy settings & forward guidance, Ueda said little chance for BoJ to say policy will change in JanuaryDovish reaction in fixed income with JGBs leading and global yields lower, USD/JPY testing 145.00 at bestEuropean bourses & US futures are firmer, ES remains sub-4800 and Monday's 4802.25 bestDXY pivoting 102.50 with Antipodeans once again outperforming with strength also in EUR & GBPCrude & European energy benchmarks softer on a breather from Red Sea tensions, but crude has since lifted on Euronav remarksLooking ahead, highlights include US Building Permits/Housing Starts, Canadian CPI, Japanese Trade Balance, NBH Announcement, Fed's Bostic, Goolsbee; BoE's Breeden.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks traded mostly negatively following a weekend heavy with geopolitical headlines and as markets look to wind down for the Christmas break.DXY held a downward bias and traded on either side of 102.50 within a 102.44-63 range amid light macro newsflow and ahead of this week's BoJ confab and US PCE data.North Korea fired a long-ranged ICBM overnight, which landed outside of Japan's EEZ. The North Korean ICBM ballistic missile test could have a range covering all of the US, according to AFP citing Japan.Fed's Bostic said rate cuts are not 'an imminent thing, Goolsbee did not rule out the possibility of cutting rates in MarchEuropean equity futures are indicative of a softer cash open, with Euro Stoxx 50 future -0.2% after cash markets closed +0.2% on Friday.Looking ahead, highlights include German Ifo, Canadian NAHB, NZ Trade, ECB's Schnabel & Lane, and BoE's Broadbent.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses are trading with modest gains in the wake of the late gains on Wall Street yesterday and the upbeat APAC session overnight.Dollar is depressed ahead of US CPI data after brief bounces post-PPI and FOMC minutes. Euro retains 1.0600+ status vs Buck. Yen is still drawn to 149.00 against Greenback.Debt futures fade after another strong rally to fresh cycle peaks for Bunds and Gilts.Chinese GDP growth might slow in Q3 to above 4.0% Y/Y from 6.3% growth in Q2 but is expected to improve after Q3, according to Securities Daily.Looking ahead, highlights include US Core CPI, Earnings, IJC & Cleveland Fed CPI, ECB & Banxico Minutes, Speeches from ECB's Panetta, Fed's Bostic, Logan & Collins, Supply from US, Earnings from Walgreens Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

FOMC Minutes stated that officials generally judged risks to achieving the FOMC's goals had become more two-sided.APAC stocks were firmer after the region took impetus from the intraday rebound on Wall St.European equity futures are indicative of a higher open with the Euro Stoxx 50 future +0.4% after the cash market closed down 0.1% yesterday.DXY remains on a 105 handle, GBP/USD and USD/JPY are back on 1.23 and 149 handles respectively.Crude futures remained subdued after having faded the entire geopolitical risk premium from the weekend.Looking ahead, highlights include UK GDP Estimate, Services, Industrial Output, Trade Balance, US Core CPI, Earnings, IJC & Cleveland Fed CPI, ECB & Banxico Minutes, ECB's Elderson & Panetta, Fed's Bostic, Logan & Collins, Supply from US & Italy.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Fed's Bostic and Kashkari join the ‘no more hikes needed' camp. PPIs and Fed minutes on tap ahead of tomorrow's CPIs. Aussie and kiwi helped by China stimulus reports. Wall Street rebounds as Fed hike probability falls.Risk Warning: Our services involve a significant risk and can result in the loss of your invested capital. *T&Cs apply.Please consider our Risk Disclosure: https://www.xm.com/goto/risk/enRisk warning is correct at the time of publication and may change. Please check our Risk Disclosure for an up to date risk warningReceive your daily market and forex news analysis directly from experienced forex and market news analysts! Tune in here to stay updated on a daily basis: https://www.xm.com/weekly-forex-review-and-outlookIn-depth forex news analysis on all major currencies, such as EUR/USD, USD/JPY, GBP/USD, USD/CHF, USD/CAD, AUD/USD.

APAC stocks were mostly positive as key markets reopened from the long weekend and following the recovery seen on Wall Street.Stocks in the US recovered following dovish-leaning Fed rhetoric which acknowledged the impact of higher Treasury yields on financial conditions.Israeli PM Netanyahu said air strikes against Hamas in Gaza are just the beginning, while he added that Hamas sought war and Hamas will get war.European equity futures are indicative of a higher open with the Euro Stoxx 50 future +1.0% after the cash market closed down 0.8% yesterday.DXY is back above the 106 mark, JPY marginally lags, EUR/USD trades just above the 1.0550 level.Looking ahead, highlights include US NFIB Business Optimism, Wholesale Inventory & Sales, NY Fed Survey of Consumer Expectations, Chinese Aggregate Financing & M2 Money Supply, ECB's Lagarde, Fed's Bostic, Waller, Kashkari & Daly, Supply from UK, Germany & US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses trade on the front-foot in a catch-up play to the afternoon gains on Wall Street; US futures are trading slightly firmer, continuing to extend on gains seen in yesterday's session.Dollar pulls back under 106.00 as risk appetite picks up, JPY underperforms with USD/JPY hovering around 149.00; Bonds futures settle down after Monday's Middle East safety flight.China reportedly weighs new stimulus and higher deficit to meet growth target, according to Bloomberg sources. IMF World Economic Outlook cut 2023 and 2024 GDP growth forecasts for China and EZ whilst maintaining the US forecasts. Looking ahead, highlights include Wholesale Inventory & Sales, NY Fed Survey of Consumer Expectations, ECB's Lagarde, Fed's Bostic, Waller, Kashkari & Daly, Supply from the US. Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks declined amid US-China tech-related frictions and disappointing Japanese GDP revisions.Fed's Logan who noted that it could be appropriate to skip an interest rate increase this month and that skipping does not imply stopping rate hikes.European equity futures are indicative of a slightly higher open with Euro Stoxx 50 future +0.1% after the cash market closed down 0.4% yesterday.DXY retreated back below 105, EUR/USD sits in the low 1.07's, Cable lingers below 1.25 and USD/JPY trades on a 147 handle.Looking ahead, highlights include German CPI (Final), Canadian Employment & Chinese Money Supply, Fed's Bostic & Barr.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks traded mixed following a similar lead from Wall Street, whilst Hong Kong markets were closed due to Typhoon Saola.PBoC is to cut FX RRR by 2ppts to 4% (prev. 6%) from September 15th, according to the central bank; Several major Chinese banks lowered their deposit rates.DXY traded choppily within a tight range but was knocked to session lows after the PBoC headlines induced Yuan strength, which later pared back.Softbank's (9984 JT) Arm Holdings is expected to set a price range for its IPO next week, with plans to price its shares on September 13th and trading to start the following day, according to Reuters sources.European equity futures are indicative of a flat/firmer open with the Euro Stoxx 50 future +0.1% after cash markets closed lower by 0.4% yesterday. Looking ahead, highlights include UK Nationwide House Prices, EZ, UK, US Manufacturing PMI Final, US Jobs Report, Canadian GDP, US ISM Manufacturing, speeches from Fed's Bostic & Mester, ECB's Vujcic.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US equity futures are indicating a broadly flat open as of 05:00 ET. This follows a mixed Asian session, while European equity markets are higher in early trading. A couple of Central Bank speeches to digest; ECB's Schnabel highlighted activity has moderated visibly but underlying price pressures remain stubbornly high, and talked up the likelihood of policy remaining restrictive. Fed's Bostic warns against overtightening and said the current stance is appropriate. Concern also remains on the slowdown in China, particularly the property sector.Companies Mentioned: Country Garden, Tesla, Microsoft, Goldman Sachs

APAC stocks eventually traded mostly negatively following a marginally positive handover from Wall Street, which saw an equity bid underpinned by dovish US economic data.DXY was caged in a tight range after being dealt another blow by US data yesterday, JPY and AUD narrowly outperformed.European equity futures are indicative of a flat open after Euro Stoxx 50 cash closed -0.3% yesterday.Chinese PMIs were mixed, manufacturing topped expectations but remained sub-50 while non-manufacturing deteriorated slightly since July.The US reportedly restricted the export of some AMD (AMD) and Nvidia (NVDA) chips to the Middle East amid China fears.Looking ahead, highlights include German Retail Sales, Unemployment Rate, EZ Flash CPI, Unemployment Rate, US PCE Price Index (Jul), IJC & Challenger Layoffs, speeches from Fed's Bostic, Collins, ECB's de Guindos, Schnabel, BoE's Pill.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses are pressured with fresh drivers light and price action continuing from subdued APAC tradeStateside, futures are more constructive with the NQ leading despite yield upside given last week's pressureDXY is bid to the detriment of G10 peers with havens lagging as yields liftDebt dips with Central Bank speak taking centre stage; Bowman said more hikes likely while Williams said we are pretty close to peak rateCommodities in the red given the overall tone and USD strengthLooking ahead, highlights include Speeches from BoE's Pill, Fed's Bostic, Harker & Bowman.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks began the week mostly negative following on from last Friday's late retreat on Wall Street.Fed's Bowman (voter) said more US rate hikes will likely be needed.European equity futures are indicative of a lower open with the Euro Stoxx 50 -0.3% after the cash market closed up by 0.7% on Friday.FX markets are contained with DXY steady just above 102, JPY marginally lags, EUR/USD eyes 1.10 to the upside.Looking ahead, highlights include German Industrial Output, Speeches from BoE's Pill, Fed's Bostic & Bowman, Earnings from Siemens Energy & Airbnb.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US stocks finished mixed. Nonetheless, the S&P 500 and Nasdaq 100 snapped their recent losing streaks with outperformance in the latterAPAC stocks failed to sustain an early positive bias and faltered following the mixed performance statesideEuropean equity futures are indicative of a softer open with the Euro Stoxx 50 -0.7% after the cash market closed down 0.4% yesterdayDXY is firmer and back above 102.50, EUR/USD extended its pullback from 1.10, USD/JPY sits on a 143 handle, antipodeans lagLooking ahead, highlights include EU, UK, US PMI (Flash), UK Retail Sales, Speeches from Fed's Bostic, Mester & Bullard, ECB's Lagarde, Panetta, Schnabel & Elderson.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses trade on the backfoot with sentiment in the region subdued after the Flash PMIs sounded recessionary warnings.US equity futures are also lower on the session with the ES briefly dipping under 4,400.Havens (ex-CHF) are bid on the back of the risk aversion while industrial commodities take a hit on growth concerns.Fed's Barkin (non-voter) said he is comfortable with more hikes if inflation is not heading to the goal but he will not prejudge the July meeting, according to Reuters.Looking ahead, highlights include US PMI (Flash), Speeches from Fed's Bostic, Mester & ECB's Panetta, Schnabel and Elderson.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

In this episode of Money Printer Go Brrrr, we navigate the choppy waters of the global economy with the Yen's 2% slide post-BOJ, and also analyze metals' recent 5% ascent on the back of Chinese stimulus efforts. We cast a critical eye over the Fed, as we unpack their Discount Window borrowing expansion from $3.1B to $3.6B, along with the insider trading activity of the Fed's Bostic during the blackout period warranting scrutiny. On the AI stocks front, Adobe's robust Q2 earnings, which boosted their shares by over 5%, deserves attention. In the cryptoverse, a potential game-changer - BlackRock's proposal for a Bitcoin ETF. Despite the SEC's history of rejection, will BlackRock's $10 trillion portfolio be enough to sway the decision? Make sure to subscribe to the podcast and rate & review. We also publish a daily email newsletter with memes, AI political cartoons, and commentary. Subscribe at https://thebrrr.com and follow us on Twitter @frank_locascio

Your morning briefing, the business news you need in just 15 minutes. On today's podcast:(1) China's recovery worries mount as data disappoints.(2) UK wage rises set to keep the Bank of England on edge.(3) The Fed's Bostic tells Bloomberg Radio there's still a ways to go on inflation.(4) One in five Brits to start paying the 40% rate by 2027. See omnystudio.com/listener for privacy information.

European bourses are almost entirely firmer, Euro Stoxx 50 +0.3%, with catalysts ex-earnings lights and the Stoxx 600 on track to see the week out with gains of circa. 1.5%.Stateside futures are tentative with a negative bias ahead of bank earnings; UNH +1.5% post-earnings.DXY remains below 101 but has eased off worst to the modest detriment of peers with action capped near peaks/big figuresFixed income spent the morning contained, but has picked up a touch after Fed's Bostic said after one more hike, can pause to assess.Commodities once again relatively contained and in familiar levels, geopols in focus.Looking ahead, highlights include US Retail Sales, US Industrial Production, US University of Michigan Prelim. Survey, speeches from Fed's Waller, Goolsbee, BoE's Tenreyro, Bailey & US Treasury Secretary Yellen. Earnings from JPMorgan, Wells Fargo, Citigroup.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

In this week's investor news, there's an evident decrease in apartment rent, softening of self-storage slowdown, multifamily status in the midwest, and inflation news is still here for us to debate about.00:40 Fed's Bostic, Kashkari Call For Higher Rates After 'Concerning' Inflation, Jobs Data3:46 Apartment Rents Fall By 3.5%6:52 Self Storage Street Rates Slowdown Softens8:00 Blackstone Defaults on Nordic Mortgage-Backed Bond11:59 Top 10 Markets for Office Deliveries in 202213:25 What's Shaping Multifamily Development in the Midwest14:40 Investor Question: About Passive Activity Losses Hosted on Acast. See acast.com/privacy for more information.

In this week's investor news, there's an evident decrease in apartment rent, softening of self-storage slowdown, multifamily status in the midwest, and inflation news is still here for us to debate about. 00:40 Fed's Bostic, Kashkari Call For Higher Rates After 'Concerning' Inflation, Jobs Data 3:46 Apartment Rents Fall By 3.5% 6:52 Self Storage Street Rates Slowdown Softens 8:00 Blackstone Defaults on Nordic Mortgage-Backed Bond 11:59 Top 10 Markets for Office Deliveries in 2022 13:25 What's Shaping Multifamily Development in the Midwest 14:40 Investor Question: About Passive Activity Losses

In this week's investor news, there's an evident decrease in apartment rent, softening of self-storage slowdown, multifamily status in the midwest, and inflation news is still here for us to debate about.00:40 Fed's Bostic, Kashkari Call For Higher Rates After 'Concerning' Inflation, Jobs Data3:46 Apartment Rents Fall By 3.5%6:52 Self Storage Street Rates Slowdown Softens8:00 Blackstone Defaults on Nordic Mortgage-Backed Bond11:59 Top 10 Markets for Office Deliveries in 202213:25 What's Shaping Multifamily Development in the Midwest14:40 Investor Question: About Passive Activity Losses Hosted on Acast. See acast.com/privacy for more information.

APAC stocks traded mostly higher amid tailwinds from the US and as the region also digested further strong Chinese Caixin PMI data.Fed's Bostic (non-voter) said the Fed may be in a position to pause by mid-to-late summer.European equity futures are indicative of a higher open with the Euro Stoxx 50 +0.6% after the cash market closed up 0.6% yesterday.DXY is a touch softer and back on a 104 handle, EUR/USD hovers just above 1.06, Cable is unable to retake 1.20.Looking ahead, highlights include German Trade Balance, EZ/UK/US Composite & Services PMIs, US ISM Services, Speeches from Fed's Logan, Bostic, Bowman, Barkin & ECB's de GuindosRead the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks lacked firm direction with price action mostly rangebound amid the mixed US close and with Japanese markets closed.FOMC minutes noted a few participants favoured a 50bps hike and all agreed more rate hikes are needed.European equity futures are indicative of a higher open with the Euro Stoxx 50 +0.4% after the cash market closed down 0.2% yesterday.DXY is a touch softer but maintaining 104 status, support in EUR/USD at 1.06 held, AUD and NZD outperform, USD/JPY capped by 135.Looking ahead, highlights include EZ CPI (Final), US GDP/PCE Q4 (2nd Estimate), IJC Japanese CPI, CBRT Policy Announcement, Speeches from Fed's Bostic & Daly, BoE's Cunliffe & Mann, Supply from US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses are firmer on the session with a hefty earnings docket dictating action after an uninspiring APAC handover.Stateside, futures are broadly-speaking in-fitting with Europe though the NQ +0.7% outperforms given tailwinds from NVIDIA's after-market update.The DXY continues to grind higher at the top-end of 104.30-65 parameters to the mixed fortune of peers; Antipodeans outperform and GBP lags despite Mann.Gilts are the incremental laggards post-Mann and down to a new 101.26 session low with the Sonia strip similarly dented, EGBs & USTs in-fitting though incrementally more contained.BoE's Mann says she does not think UK monetary policy is in a restrictive stance particularly.WTI and Brent April futures are consolidating following another hefty session of losses, Henry Hub firmer, spot gold contained but erring lower.Looking ahead, highlights include US GDP/PCE Q4 (2nd Estimate), IJC Japanese CPI, Speeches from Fed's Bostic & Daly, BoE's Cunliffe, Supply from US, Earning from Moderna.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Your morning briefing. The news you need in just 15 minutes. On today's podcast:(1) More than 4,000 people have died after earthquakes hit Turkey and Syria.(2) BNP Paribas says it will buy back shares worth €5 billion.(3) The Fed's Bostic believes rates could now be headed for a higher peak.(4) Danny Blanchflower tells Daybreak Europe that “collapsing” house prices will force the BoE to cut rates.See omnystudio.com/listener for privacy information.

The BoJ defied some market bets and stuck with its ultra-easy policy settings and reaffirmed its dovish guidance.APAC stocks were positive albeit with price action mostly kept rangebound after the weak lead from Wall Street.European equity futures are indicative of a higher open with the Euro Stoxx 50 +0.3% after the cash market closed up 0.4% yesterday.JPY is the standout laggard in G10 FX with USD/JPY venturing as high as 131.57 overnight vs. a weekly low of 127.21.Looking ahead, highlights include UK CPI, EZ CPI (Final), US Retail Sales, PPI & Industrial Production, Speeches from Fed's Bostic, Bullard, Harker & Logan, Supply from Germany & US, Earnings from Burberry, Charles Schwab, Prologis & Kinder Morgan.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

The BoJ defied some market bets and stuck with its ultra-easy policy settings and reaffirmed its dovish guidance.European bourses are contained overall, Euro Stoxx 50 +0.1%, as the dovish BoJ fails to provide impetus with US futures similarly steadyUSD/JPY jumps to 131.57 from the low 128.00 area at one stage, DXY rebounds accordingly to 102.900 before experiencing a sharp reversalCore fixed benchmarks have picked off the European morning's lows to near unchanged levels, but remain shy of overnight BoJ-inspired peaks.Crude benchmarks are bid and have broken out of contained overnight ranges following the latest geopolitical rhetoric, lifting the complex to fresh YTD peaks.Looking ahead, highlights include US Retail Sales & Industrial Production, Speeches from Fed's Bostic, Bullard, Harker & Logan, Supply from the US, Earnings from Charles Schwab, Prologis & Kinder Morgan.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses are firmer across the board, Euro Stoxx 50 +0.3%, as the constructive APAC tone from China's reopening leadsUS futures are in the green, ES +0.4%, in-fitting with the above sentiment ahead of Fed speak and a NY Fed Consumer Expectations surveyDXY continues to slip below the 104.00 mark between 103.860-420 parameters towards key technical support and its December low (103.380)Action which is benefitting peers across the board ex-JPY, which is suffering amid the easing in USTs/EGBs and a Japanese holiday, with USD/JPY above 132.50EGBs under pressure and continuing to retreat from Friday's best, with Bunds down by nearly 100 ticks and Gilts similarly dented though managing to retain 102.00 at presentCrude benchmarks are bid this morning, with WTI Feb and Brent Mar posting upside in excess of 3.0% or USD 2.0/bbl respectively; given China's reopening and geopolitical developmentsLooking ahead highlights include speeches from Fed's Bostic, Daly, BoE's Pill & NY Fed Consumer Expectations survey.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks gained with the MSCI Asia Pacific index on course to enter a bull market as the region took impetus from last Friday's rally on Wall St.European equity futures are indicative of a firmer open with the Euro Stoxx 50 +0.8% after the cash market closed up 1.5% on Friday.DXY remains on a 103 handle, EUR/USD extended advances above 1.06 and USD/JPY retreated below 132. Antipodeans lead the majors.Crude futures were underpinned following China's border reopening and with travel demand expected to be further boosted heading closer to the Lunar New Year.Looking ahead, highlights include German Industrial Production, EZ Sentix & Unemployment Rate, Speech from Fed's Bostic & Supply from EZ.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks traded with cautious gains despite a negative lead from Wall Street, and ahead of the US labour market dataDXY traded within a tight pre-NFP range just above the 105.00 level after notching a 103.98-105.27 parameter yesterdayChina could ease "three red lines" property rules in a major shift, according to Bloomberg sourcesUS House voted to adjourn until noon Friday after failing to elect a House Speaker; a source close to Republican McCarthy confirmed a deal is on the tableLooking ahead, highlights include German Retail Sales, EZ CPI and Retail Sales, US and Canadian Labour Market Reports, US ISM Services PMI, speeches from Fed's Bostic, Cook, Barkin.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses are little changed overall but do feature a slim positive skew, Euro Stoxx 50 +0.1%, pre-NFP; US futures similarly containedDXY maintains its recovery momentum ahead of the US agenda with the index up to a 105.52 peak at best, with JPY taking the brunt of this.EGBs experienced modest but ultimately fleeting downside in wake of hot core/super-core EZ inflation, though the benchmarks are little changed overall pre-NFPCrude benchmarks are firmer, but have been subject to two-way price action throughout the morning which has been directionally in-fitting with but slightly more pronounced than equity action.Looking ahead, highlights include US and Canadian Labour Market Reports, US ISM Services PMI, speeches from Fed's Bostic, Cook, Barkin.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses are mixed but with a slight negative bias, Euro Stoxx 50 -0.2%, following a similar APAC handover ahead of US data with US futures little changed.Dollar mixed awaiting busy pm agenda on the eve of NFP and after choppy moves post-FOMC minutes with peers mixed vs USD.Currently, Bund, USTs and Gilts are within touching distance of the unchanged mark, with yields diverging slightly between EGBs and USTs.Little reaction to the Italian inflation print, which dipped slightly from the prior but was in-line with exp.WTI and Brent are firmer on the session, though the upside stalled on approach to the USD 75/bbl and USD 80/bbl handles respectively with the benchmarks still lower by over USD 5/bbl WTD.Looking ahead, highlights include US Challenger Layoffs, Canadian Trade Balance, US IJC, US EIA Inventories, speeches from Fed's Bostic and Bullard.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks traded positively throughout most of the session but bourses later drifted off best levels; the US closed in the green after some FOMC-related volatilityFOMC December minutes highlighted how no Fed official sees a rate cut in 2023 albeit there was no discussion about the magnitude of the hike in FebruaryDXY was choppy and briefly dipped under 104.00 to a session low of 103.98 before reversing to print an overnight peak; JPY outperformed among G10s and high-betas laggedRepublican McCarthy lost six rounds of voting for the post of Speaker of the House. House voted to adjourn until noon on Thursday. McCarthy proposed key concessions.Amazon (AMZN) confirmed plans to cut just over 18,000 roles (vs exp. "more than 17,000", vs prev. guided 10,000), according to Bloomberg.Looking ahead, highlights include German Trade Balance, EZ Construction PMI, UK and US Services and Composite Final PMIs, EZ PPI, US Challenger Layoffs, Canadian Trade Balance, US IJC, US EIA Inventories, speeches from Fed's Bostic and Bullard, and supply from the UKRead the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks began the week with mild losses following the subdued performance last Friday on Wall Street.European equity futures were lower with the Euro Stoxx 50 future down 0.5% after the cash market closed with gains of 0.5% on Friday.USD is broadly firmer vs. peers, EUR/USD maintains 1.05 status and USD/JPY lingers around the 137 mark.Crude prices were slightly higher in some mild respite from the recent selling pressure.Looking ahead, highlights include UK GDP, Chinese New Loans, Financing & M2 Money Supply, Speech from Fed's Bostic, Supply from the US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses are under modest pressure, Euro Stoxx 50 -0.2%, as the cautious APAC tone continues but with magnitudes limited given the lack of newsflow.USD's initial extension faded with the index drifting within 105.23-104.72 parameters, peers mixed but generally rangebound.EGBs & Gilts have meandered to fresh intra-day peaks, though newsflow and drivers behind the upside are essentially non-existent.Crude benchmarks are under modest pressure, with both volumes and newsflow limited ahead of an action-packed week of macro risk events.Looking ahead, highlights include Fed's Bostic & US supply.Click here for the Week Ahead previewRead the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks began the week mostly lower amid headwinds from China after several areas announced fresh virus restrictions.European equity futures were softer overnight with the Euro Stoxx 50 future -0.3% after cash markets closed higher by 1.2% on Friday.DXY is back on a 107 handle with EUR/USD, Cable and USD/JPY on 1.02, 1.18 and 140 handles respectively.Fed's Bostic (2024 voter) believes that another 75bps-100bps tightening will be warranted and sufficient to rein in inflation.Looking ahead, highlights include German Producer Prices, Speech from BoE's Cunliffe & Supply from the US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks traded mostly lower throughout the session following the downbeat lead from Wall Street (-0.8%). DXY was choppy in a tight range and traded on either side of 106.50 after printing a 105.85-106.79 range yesterday; Yuan underperformedECB officials may favour a 50bps rate hike in December rather than 75bps, although an inflation surge could still lead to 75bps, according to Bloomberg sourcesFed's Waller (voter, hawk) said recent data have made him more comfortable with the idea of a 50bps hike in DecemberEuropean equity futures were flat overnight with the Euro Stoxx 50 future +0.1% after cash markets closed lower by 0.8% yesterday.Looking ahead, highlights include EZ Final HICP, US Building Permits, US Philly Fed, US IJC, Speeches from BoE's Pill, Fed's Bostic, Bullard, Bowman, Mester, Kashkari, Jefferson, Evans, SNB's Maechler, Supply from Spain, France.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Stocks in Europe are on a mixed footing after scaling back opening gains with no clear fundamental catalyst driving price action thus far ahead of numerous events.Similar action in US futures with the ES back below 4k ahead of data, Fed speak and some corporate updates.DXY has seen an intra-day recovery from a 106.08 low to a 106.68 peak, with G10 peers now all pressured vs initial modest upside against the Greenback.Gilts unchanged ahead of significant fiscal changes from the UK, 10yr yield at 3.15%; USTs await Fed speak post-Waller.Crude benchmarks are under modest pressure given the USD recovery throughout the morning, generally softer APAC tone and a continuing deterioration to the China COVID case count weighing.Ags. in focus and pressured following an as-expected extension to the Black Sea grain deal.Looking ahead, highlights include US Building Permits, US Philly Fed, US IJC, Speeches from BoE's Pill, Fed's Bostic, Bullard, Bowman, Mester, Kashkari, Jefferson, Evans, SNB's Maechler, UK Autumn Statement at 11:30GMT.Click here for the Week Ahead previewRead the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks were positive with the region inspired by gains in global counterparts (SPX +2.66%).European equity futures are indicative of a higher open with the Euro Stoxx 50 future +1.2% after the cash market closed with gains of 1.8% yesterday.BoE is reportedly expected to further delay quantitative tightening until gilt markets calm, according to FT.DXY is softer and on a 111 handle, GBP is supported post-QT delay expectations, NZD bolstered by strong CPI.Looking ahead, highlights include German ZEW, US Industrial Production & Capacity Utilisation, Speeches from Fed's Bostic, Kashkari & ECB's Schnabel, Supply from UK & Germany, Earnings from Goldman Sachs, JNJ, LMT, Netflix, United Airlines, Interactive Brokers, Roche.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Equity bourses in Europe trade with gains across the board but are off best levels; US futures are faring betterNZD leads after strong CPI while GBP lags as the BoE pushes back on QT delay reports, DXY firmer but off bestYen pares some losses from under 149.00 against the Dollar amidst some unsubstantiated talk of interventionOverall fixed complex is pressured, with Gilts lagging though Bunds are in close proximity and below 136.00 post poor 7yr-supply and ahead of ECB speak.WTI and Brent December contracts are softer on the session and gave up earlier gains as the DXY creeps higherLooking ahead, highlights include US Industrial Production & Capacity Utilisation, Speeches from Fed's Bostic, Kashkari & ECB's Schnabel. Earnings from Goldman Sachs, JNJ, LMT, Netflix, United Airlines, Interactive Brokers.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

According to a report from CNN Business, the nation's total public debt outstanding closed at $31.1 trillion on Monday, according to Treasury Department data published Tuesday. This particular milestone comes at a time of historically high inflation, rising interest rates and growing economic uncertainty. Incredibly, outstanding debt has climbed nearly $8 trillion since the beginning of 2020, and it's increased by $1 trillion since February of 2022. In today's episode of The Higher Standard, Chris and Saied take a deeper look into this news and the reasons behind it (looking at you, Inflation Reduction Act). They discuss the reasons why you shouldn't buy real estate in some major markets unless you see a 10% drop in value from where you were. Chris and Saied look at the issue of real estate numbers, such as home values, mortgage application volume, etc. and why the amount of interpretation involved means that the trends become more important than the specific numbers. They also discuss an article stating that a recent report from KPMG shows that over 50% of American CEOs are considering workforce reductions over the next six months, possibly as a response to the increase of remote workers during the pandemic. Join Chris and Saied for this fascinating conversation. Enjoy! What You'll Learn in this Show: Why the Inflation Reduction Act is one of the key factors that caused national debt to jump by over a trillion dollars in the last eight months. The reasons why homebuyers should hesitate to purchase in major markets, unless they see a 10% drop in value from where they were. Why the amount of interpretation involved in real estate market data aggregation means that trends become more useful than the specific numbers. How many companies are responding to the hybrid workforce that was born from the pandemic. And so much more... Resources: https://www.pgpf.org/analysis/2022/09/higher-interest-rates-will-raise-interest-costs-on-the-national-debt ("Higher Interest Rates Will Raise Interest Costs on the National Debt") (article from Peter G. Peterson Foundation) https://www.realpage.com/analytics/us-apartment-demand-plunges-3rd-quarter/ ("U.S. Apartment Demand Plunges in 3rd Quarter as New Leasing Stalls More than Expected") (article from RealPage Analytics) https://www.instagram.com/p/CjVhcwXhcn9/?igshid=YmMyMTA2M2Y%3D ("US home prices are now posting their biggest monthly drops since 2009") (Bloomberg BusinessWeek via Instagram) https://www.cnbc.com/2022/10/04/whats-happening-with-home-prices.html ("High mortgage rates, tight supply and economic uncertainty: Here's what's happening with home prices") (article from CNBC) https://www.cnbc.com/2022/10/05/weekly-mortgage-applications-plummet-14percent-as-higher-interest-rates-and-hurricane-ian-crush-demand.html ("Mortgage applications plummet 14% as higher interest rates and Hurricane Ian crush demand") (article from CNBC) https://www.reuters.com/markets/us/us-job-openings-post-biggest-drop-nearly-2-12-years-august-2022-10-04/ ("U.S. job openings drop sharply, labor market starting to loosen") (article from Reuters) https://www.marketwatch.com/amp/story/feds-bostic-wants-to-pause-after-december-rate-hike-11665003566 ("Fed's Bostic wants to pause after December rate hike") (article from MarketWatch) https://www.marketwatch.com/story/more-than-half-of-ceos-consider-workforce-reductions-over-the-next-6-months-and-remote-workers-may-be-the-first-go-to-11664907913 ("Over 50% of CEOs say they're considering cutting jobs over the next 6 months — and remote workers may be the first go to") (article from MarketWatch)

European bourses are under pressure following the strong gains seen in Tuesday's session with fresh newsflow fairly limited heading into key US data, Euro Stoxx 50 -1.1%.Stateside, ahead of those metrics which will be eyed for further clues around a 'pivot', futures are under similar pressureUSD has benefited from a rebound in yields and perhaps on phycological/technical grounds, DXY nearing 111.00 to the detriment of peersCore debt is pressured across the board with Gilts lagging despite upside from a well-received DMO outing; US yields firmer, though curve is slightly mixedCrude benchmarks are currently dictated by broader risk and are modestly softer as such, though attention will turn to the OPEC gathering shortlyConsensus heading into OPEC is that there will be a sizeable production cut announced, the magnitude of which is unknown but source updates are becoming increasingly skewed towards the top-end of a 0.5-2.0mln range.Looking ahead, highlights include US Final PMIs, US ISM Services, ADP, OPEC, speech from Fed's Bostic.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks traded higher across the board as the region sustained the momentum from Wall St where major indices extended their rally (SPX +3.06%, NDX +3.14%).European equity futures are indicative of a softer open with the Euro Stoxx 50 future -0.5% after the cash market closed with gains of 4.3% yesterday.DXY attempted to nurse some of its recent losses, cable and EUR/USD stalled just ahead of 1.15 and parity respectively. The US is reportedly pushing OPEC+ nations not to proceed with an output cut, arguing that economic fundamentals do not support an output cut.Looking ahead, highlights include EZ, UK & US Final PMIs, US ISM Services, ADP, OPEC, Speeches from Fed's Bostic & UK PM Truss, Supply from UK & Germany.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European equities have kicked the week off on the backfoot following the selling pressure seen on Wall Street on Friday whilst the APAC session saw holiday-thinned conditionsUS futures are more of a mixed bag with the tech-laden NQ incrementally lagging peers.Cable lifted to a 1.1279 best sending DXY below 112.00; however, this action has since eased with peers heavily mixed vs. USDCore benchmarks lifted markedly alongside the commencement of Gilt trade following the gov't u-turn, upside which has since easedCrude benchmarks bid on weekend/early-morning reporting around the potential OPEC+ cut magnitudeLooking ahead, highlights include US Final Manufacturing PMI, US ISM Manufacturing, Speeches from Fed's Bostic, Barkin, George & Williams, BoE's Mann & UK Chancellor Kwarteng.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks were mostly lower as the region failed to shrug off the negative mood following last Friday's losses on Wall St.European equity futures are indicative of a lower open with the Euro Stoxx 50 future -1.7% after the cash market closed with gains of 1.2% on Friday.DXY has reclaimed 112, GBP lags G10 FX and hovers just below 1.11, antipodeans lead the majors.OPEC+ sources on Sunday said the group may opt for cuts over 1mln BPD. Energy Intel suggests as much as 1.5mln is under consideration.Looking ahead, highlights include EZ, UK & US Final Manufacturing PMI, US ISM Manufacturing, Speeches from Fed's Bostic, Barkin, George & Williams, BoE's Mann & UK Chancellor Kwarteng.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses are under pressure amid continued hawkish pricing, but off lows as yields ease from highs, Euro Stoxx 50 -1.4%.Stateside, a similar picture to fixed with action in-fitting directionally but steadier in terms of magnitudes ahead of data, ES -07%; NQ -1.1% lags given elevated yields.DXY around 109.00 having recovered from fresh lows in wake of Russian-driven Yuan appreciation, peers softer across the board ex-CAD & CHFCore benchmarks are under pronounced pressure once more with yields across the board at fresh near-term peaksCrude resumes downward price action with focus on potential energy price capsTaiwan's Defense Command said it has shot down an unknown civilian drone near KinmenLooking ahead, highlights include US Manufacturing PMIs, US ISM Manufacturing, Construction Spending, Speech from Fed's Bostic.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks traded mostly lower following the weak handover from global counterparts and following a surprise contraction in Chinese Caixin Manufacturing PMI.European equity futures are indicative of a lower open with the Euro Stoxx 50 future -0.9% after the cash market closed down by 1.3% yesterday.DXY is firmer and on a 109 handle, EUR/USD hovers around parity, GBP/USD is sub-1.16 and USD/JPY is at its highest level since 1998.US and allies are to set out a plan on Friday to limit the price of Russian oil without increasing global oil prices, according to WSJ.Looking ahead, highlights include EZ, UK & US Manufacturing PMIs, German Retail Sales, Swiss CPI, EZ Unemployment, US ISM Manufacturing, Construction Spending, Speech from Fed's Bostic, Supply from Spain, France & UK.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

On todays episode we talk about how economically stupid it was to Forgive Student Loan's and weather it was more about the students ability to pay the loans back or if it was a political agenda to swing the youth is a certain agenda. Even though personal income increased $47 billion in July, we are soon to be hit with another interest rate hike by 0.5% in September according to Fed's Bostic. Dating back to a few episodes we talked about the impact of the Tesla TSLA 3:1 Stock Split and it was nothing but a baked in increase of price. Coinbase launches a voter registration tool to allow the participation in American Crypto Policy Discussions. Mastercard's CEO (Michael Miebach) states the company is working with Binance to let people spend crypto at more than 90,000,000 stores across America. Snoop Dogg and Eminem perform at the VMA's featuring their Bored Apes Yacht Club NFT's in a one of a kind music video. Lastly the boys talk about the imapct of the latest episode of the Full Send Podcast with the Creators of the Bored Ape Yacht Club NFT's. 

APAC stocks traded mixed after the 100bps Fed rate hike bets unwound; Chinese Q2 GDP missed forecasts but June Retail Sales beat estimatesDXY was rangebound, EUR/USD was slightly firmer, USD/JPY took a breather from yesterday's rally, and AUD/USD was softer after the Chinese growth data10yr USTs eked modest gains, Bunds remained elevated, and 10yr JGBs traded flatCrude futures were choppy, Spot gold lacked firm direction, and copper declined after the Chinese GDPFed's Waller (voter) said markets got “ahead of themselves” with a 100bps pricing; Bullard (2022 voter) said he still supports a 75bps July moveLooking ahead, highlights include US NY Fed Manufacturing, Retail Sales, IP & Uni. of Michigan (Prelim.), Speech from Fed's Bostic & ECB's Rehn, Earnings from UNH, Blackrock, Citi & Wells FargoClick here for the Week Ahead previewRead the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

European bourses are firmer across the board, as initial jittery performance dissipated with participants looking to US data and Fed speak.US futures are in the green, but only modestly so, and have been relatively contained awaiting further guidance from upcoming Fed officials on the 75bp/100bp discussion.DXY continues to pullback with peers mixed as EUR consolidates and AUD underperformsCore debt pulls back from initial peaks though yields remain under pressure after less-hawkish Fed commentary, prompting re-steepeningCrude benchmarks firmer, but awaiting details from the upcoming Saudi-Biden meetingLooking ahead, highlights include US NY Fed Manufacturing, Retail Sales, IP & Uni. of Michigan (Prelim.), Speech from Fed's Bostic, Bullard & Daly. Earnings from Citi & Wells Fargo.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

The economy added 372,000 jobs in June; Fed's Bostic, Daly say economy can handle rising rates; Spirit postpones shareholder vote on Frontier purchase offer; Biden administration releases $1 billion for airports Learn more about your ad choices. Visit podcastchoices.com/adchoices

Soft US data drags yields and dollar lower as Fed's Bostic calls for rate hike pause. Nasdaq edges up after slump in tech stocks; Fed minutes awaited for more direction. Kiwi jumps after RBNZ's surprise hawkish tilt, euro dips on mixed ECB messages. Risk Warning: 73.03% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.Please consider our Risk Disclosure: https://www.xm.com/goto/risk/enRisk warning is correct at the time of publication and may change. Please check our Risk Disclosure for an up to date risk warningReceive your daily market and forex news analysis directly from experienced forex and market news analysts! Tune in here to stay updated on a daily basis: http://www.xm.com/market-analysis-video In-depth forex news analysis on all major currencies, such as EUR/USD, USD/JPY, GBP/USD, USD/CHF, USD/CAD, AUD/USD.

APAC stocks were mixed as momentum waned due to China's COVID woes and record Beijing infectionsAustralian Labor Party leader Albanese was elected as Australia's PM and was sworn in on MondayRussian negotiator Medinsky said Russia is ready to continue stalled peace talks with UkraineEuropean equity futures are indicative of a firmer open with Eurostoxx 50 +1% after the cash market closed higher by 0.5% on FridayDXY was subdued beneath 103, antipodeans lead in G10 FX, EUR/USD sits on a 1.05 handleLooking ahead, highlights include German Ifo Survey, Speeches from ECB's Villeroy & Fed's Bostic, Supply from EU & BelgiumRead the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks traded mixed following the choppy performance on Wall Street.Ukrainian gas transit system operator chief said Russian occupying forces started taking transit gas and sending it to pro-Russian separatist regions.European equity futures are indicative of a higher open with Eurostoxx 50 +0.9% after the cash market closed with gains of 0.8% yesterday.DXY trades a touch softer after stalling ahead of 104.00, antipodeans lead in the G10 FX space.Looking ahead, highlights include US CPI, Speeches from Fed's Bostic, ECB's Lagarde, Schnabel, Elderson, de Cos, Centeno, Vasle & Muller, Supply from UK, Germany & US, Earnings from Ubisoft, Siemens Energy, Poste Italiane, E.ON, Continental, ITV, Compass & Beyond Meat.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Stateside, futures are bolstered though with gains marginally more contained vs European-peers going into today's inflation data, ES +1.0%Greenback grounded in advance of US CPI as Treasury yields recede and curve re-flattens, DXY slips further below 104.00 and sub-103.50 vs fresh 2022 peak at 104.190 on Monday.As such, peers across the board are making gains vs USD; antipodeans leading on base-metals and CHF a relative outperformer after Tuesday's pressureWTI and Brent are bolstered in excess of USD 3.00/bbl in a paring of recent losses alongside a positive turn in China's COVID situation.ECB's Lagarde says we have not yet precisely defined the notion of “some time”, but I have been very clear that this could mean a period of only a few weeksLooking ahead, highlights include US CPI, Speeches from Fed's Bostic, ECB's Schnabel. Supply from the US and President Biden.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

 Raphael Bostic, Atlanta Fed President, says there is no need for a hike greater than 50 basis point. Wally Adeyemo, U.S. Deputy Secretary of the Treasury, says Russia's actions are a key contributor to energy and food price increases. George Saravelos, Deutsche Bank Global FX Research Head, says the market is too pessimistic on the euro. Ian Shepherdson, Pantheon Macroeconomics Chief Economist, says markets have been too aggressive on the speed of Fed hikes in the short-term. Cynthia Hooper, College of the Holy Cross Director of Russian and Eastern European Studies, discusses Vladimir Putin's Victory Day speech. See omnystudio.com/listener for privacy information.

European bourses are lower across the board, Euro Stoxx 50 -1.4%, in a continuation of the APAC handover amid multiple fundamental narratives.Stateside, US futures are similarly hindered, ES -1.7%, with the NQ marginally lagging given renewed yield upside.Russian President Putin, in his Victory Day speech, says you are fighting for the security of Russia now; says NATO was creating threats at our borders.USD remains bid but is marginally off-best, peers hindered across the board; debt yields climb, US curve is steepening.Crude is curtailed on above price action, familiar drivers in focus while spot gold slips amid USD/yield dynamics.Looking ahead, highlights include speeches from Fed's Bostic and BoE's Saunders.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks declined amid recent upside in yields and as participants digested a slowdown in Chinese trade dataUS equity futures remained weak; European equity futures are indicative of a softer openEU ambassadors met on Sunday and failed to agree on a Russian oil ban deal. Ambassadors will meet again on Monday or TuesdayIn FX, DXY remained firm against G10s across the board; Antipodeans underperformedUK ministers are said to be preparing to take unilateral action to override parts of the Brexit NI protocol "within weeks", according to The TimesLooking ahead, EZ Sentix, Fed's Bostic, BoE's Saunders; Earnings: Infineon, BioNTechRead the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

APAC stocks traded mostly positive following the strong lead from the US which was spurred by Ukraine/Russia optimism. A western official said they haven't seen anything so far that has demonstrated Russia is particularly serious about peace talks.The DXY remains subdued following yesterday's declines, USD/JPY has continued to fade recent gains. European equity futures are indicative of a softer open with the Euro Stoxx 50 future down 0.4% after the cash market closed higher by 3.0% yesterday.Looking ahead, highlights include German CPI Prelim, US ADP & GDP (Final/Q4), Speeches from Fed's Barkin, Bostic & George, ECB's Lagarde, BoE's Broadbent, Supply from Italy.US TRADEUS stocks finished positive with risk appetite spurred by optimism post-Russia/Ukraine talks and after Russia suggested it would be withdrawing some troops, while both sides alluded to prospects of a Putin-Zelensky meeting.S&P 500 +1.2% at 4,633, Nasdaq 100 +1.7% at 15,239, Dow Jones +1.0% at 35,294, Russell 2000 +2.7% at 2,133.NOTABLE US HEADLINESFed's Bullard (2022 voter, 50bp dissenter) reiterated that he favours raising the FFR to 3% by year-end and is in favour of implementing a plan to quickly reduce the size of the Fed's balance sheet, while he added the extent and pace of these actions can be adjusted if macroeconomic conditions evolve differently than what they expect, according to the St Louis Fed.Fed's Harker (temp voter) said the Fed 'collectively underestimated' impact fiscal spending would have on inflation and he would not take a 50bps rate hike off the table for the next meeting but is not committing to it either. Harker stated that developments in China is "another wrench" in the supply chain and could make a 50bps hike more likely appropriate, while he noted a balance sheet reduction could add the equivalent of two quarter-point rate increases and that they can move methodically to a neutral rate of around 2.5% then assess what more may be required, according to Reuters.Fed's Bostic (2024 voter) said the Ukraine war is impacting inflation and increases uncertainty which is a risk for demand. Bostic stated the Fed is withdrawing policy support to allow the economy to stand on its own but added it could harm the economy if the Fed moves too quickly, while he reiterated that he favours six hikes for 2022.US Senate voted to move the Fed nomination of Lisa Cook forward to a confirmation vote. (Newswires)GEOPOLITICSRUSSIA-UKRAINENEGOTIATIONS/TALKSUkrainian President Zelenskiy said signals from Russia talks could be called positive but do not drown out the explosions of Russian shells and they see no reason to trust words from "certain representatives of a power that continues to fight for our destruction". Zelensky also said they are not reducing defensive efforts as the Russian army still has significant potential to carry out attacks, according to Reuters.US President Biden said "we'll see" about Russia's de-escalation statement and will have to see if Russia follows through but the US will continue to keep strong sanctions and help the Ukraine military, according to Reuters.French President Macron discussed the Ukraine situation with Russian President Putin in a phone call and Macron told Putin paying gas contracts in Roubles was not possible, according to a French Presidency official. Furthermore, Macron brought up the topic of carrying out a humanitarian mission for Mariupol with Putin although conditions are not in place for now and Russia's position on a humanitarian mission for Mariupol remains tough but Putin told Macron he would think about it, according to Reuters.DEFENCE/MILITARYUS Department of Defense confirmed there has been some movement by small amounts of Russian forces away from Kyiv but reiterated this is repositioning and not a withdrawal, while it added that Russia is spinning a lack of progress as the next steps and the threat to Kyiv isn't over despite Russian talk. Furthermore, it stated that Russian President Putin's goals still stretch beyond the Donbass and that a small number of Russian troops leaving Kyiv are moving north for now and are to be used elsewhere in Ukraine, according to Reuters.US official said the US believes any movement of Russian forces from around Kyiv is a "redeployment, not a withdrawal" and said the world should be prepared for a continuation of major offensives in other areas in Ukraine as Russia is shifting gears, according to Reuters.A western official said they haven't seen anything so far that has demonstrated Russia is particularly serious about peace talks and seems to be more of a tactical exercise to play for time, according to Reuters.US is mulling sending another USD 500mln of humanitarian aid to Ukraine which could be used for military purposes, according to Bloomberg.ENERGY/ECONOMIC SANCTIONSWhite House said they will continue to intensify sanctions on Russia and they are not going to run out of options anytime soon, according to Reuters.Russia is studying the possibility of importing equipment for the fuel and energy complex through friendly countries, according to Interfax.FUND/SOVEREIGN/OTHER NEWSUS State Department warned that Moscow may detain Americans in Russia, while it issued a Level 4 travel advisory for Ukraine and stated 'do not travel' to Ukraine, according to AFP.Russian grain exporters reportedly may request payment in Roubles, according to Kommersant.OTHERSaudi-led coalition announced it is halting military operations in Yemen for the month of Ramadan to help negotiations succeed, with operations halted from this Wednesday, according to the Saudi state news agency.APAC TRADEEQUITIESAPAC stocks traded mostly positive amid optimism from Russia-Ukraine talks in which negotiators discussed a ceasefire and with Russia to scale down military activity in Kyiv and Chernihiv, although the US was unconvinced.ASX 200 gained on continued tech strength and with consumer stocks helped on Budget support measures.Nikkei 225 fell beneath the 28,000 level after weaker than expected Retail Sales and as the Yen nursed losses.Hang Seng and Shanghai Comp. were underpinned after continued PBoC liquidity efforts and amid a deluge of earnings including from large banks in which Bank of China and China Construction Bank both topped estimates.US equity futures took a breather following yesterday's advances.European equity futures are indicative of a softer open with the Euro Stoxx 50 future down 0.4% after the cash market closed higher by 3.0% yesterday.FXDXY remained subdued after the prior day's retreat beneath the 99.00 level as yields eased and with risk sentiment underpinned by hopes surrounding the Russia-Ukraine talks.EUR/USD strengthened above 1.1100 amid hopes of a de-escalation in Ukraine.GBP/USD lacked direction after yesterday's choppy mood with the pair stuck around the 1.3100 level.USD/JPY continued to fade recent advances with the pair slipping to a low of 121.31 overnight vs. 125.10 on Monday.Antipodeans benefitted from the risk tone with NZD outperforming on cross-related flows and encouraging data which showed an improvement in Building Permits and Business Activity Outlook.SNB's Vice Chair Zurbruegg said vulnerabilities have increased in the swiss real estate market and Swiss apartments are overvalued by 10-35%, while the SNB will monitor developments in the real estate market, according to Reuters.FIXED INCOME10yr USTs extended on the prior day's gains as yields eased and with the recent declines in oil prices helping alleviate some of the inflationary concerns. 2s10s inverted (briefly) for the first time since 2019, whilst a mixed 7yr auction had little follow-throughBunds continued to recoup recent losses to test the 158.00 level to the upside.10yr JGBs were underpinned after the BoJ boosted today's regular buying operations for various maturities and conducted a special operation for unlimited JGBs, while it later announced emergency purchases to cap yields.COMMODITIESWTI and Brent nursed the losses from yesterday's intraday drop after Ukraine/Russia optimism weighed heavily on oil, with prices well of their lows amid skepticism from the US on Russia scaling down operations.US Energy Inventory Data (bbls): Crude -3.0mln (exp. -1.0mln), Gasoline -1.4mln (exp. -1.7mln), Distillate -0.2 (exp. -1.6mln), Cushing -1.1mln.US House Energy and Commerce Committee is to hold a hearing next week with six oil company executives regarding rising gas prices, according to Reuters.Spot gold traded sideways and only marginally benefitted from the weaker greenback.Copper was higher amid the constructive risk tone.CRYPTOBitcoin was choppy overnight with prices relatively flat heading into the European morning.NOTABLE APAC HEADLINESPBoC injected CNY 150bln via 7-day reverse repos with the rate at 2.10% for a CNY 130bln net injection.PBoC set USD/CNY mid-point at 6.3566 vs exp. 6.3478 (prev. 6.3640)Chinese city of Xuzhou has declared a three-day lockdown from WednesdayBoJ Governor Kuroda said he discussed a post-COVID global economy, Russia and Ukraine with PM Kishida, as well as talked about the economy and financial markets in Japan and abroad with the PM. Kuroda told Kishida FX moves should reflect economic fundamentals but they did not discuss anything in particular on FX and don't think that a monetary adjustment would have a direct impact on currencies. Furthermore, Kuroda said the yen is weakening but is driven partly by buying the dollar for energy imports and with higher US rates also a factor.BoJ announced to buy JPY 600bln in 3yr-5yr JGBs, JPY 725bln in 5yr-10yr JGBs, JPY 150bln in 10yr-25yr JGBs, JPY 100bln in 25yr+ JGBs and JPY 60bln in inflation-indexed JGBs, while it also offered to buy an unlimited amount of 10yr JGBs at a fixed rate of 0.25%. The BoJ later announced an emergency operation to buy JPY 500bln in 5yr-10yr JGBs, JPY 100bln in 10yr-25yr JGBs and JPY 50bln in 25yr+ JGBs, according to Reuters.DATA RECAPJapanese Retail Sales YY (Feb) -0.8% vs. Exp. -0.3% (Prev. 1.6%, Rev. 1.1%)New Zealand Building Consents (Feb) 10.5% (Prev. -9.2%, Rev. -8.7%)New Zealand NBNZ Business Outlook* (Mar) -41.9% (Prev. -51.8%)New Zealand NBNZ Own Activity* (Mar) 3.3% (Prev. -2.2%)EUROPENOTABLE EUROPEAN HEADLINESUK ministers are reportedly mulling a fourth delay of the introduction of full checks on imports from the EU in a move to tackle trade friction and the cost of living crisis, according to FT citing officials briefed on talks.DATA RECAPUK BRC Shop Price Index YY (Mar) 2.1% (Prev. 1.8%)

European equities (Eurostoxx 55 -0.9%) trade on the backfoot as markets digest the reaction to yesterday's peace talks. Regional CPIs from Germany have seen notable jumps from priors on a M/M and Y/Y basis ahead of the mainland metric at 13:00BST/08:00EDT.The DXY has slipped below the 98.00 mark, EUR/USD has gained a firmer footing above 1.11, JPY leads in G10 FX.US equity futures are indicative of a softer open with the ES -0.4% after the S&P closed higher by 1.2% yesterday.Looking ahead, highlights include German CPI Prelim., US ADP & GDP (Final/Q4), Speeches from Fed's Barkin, Bostic & George.GEOPOLITICSRUSSIA-UKRAINENEGOTIATIONS/TALKSUkrainian President Zelenskiy said they are not reducing defensive efforts as the Russian army still has significant potential to carry out attacks, according to Reuters.Ukraine Deputy PM says three humanitarian corridors have been agreed for evacuations on Wednesday; said Ukraine had requested 97 corridors to be opened in the worst-hit areas. Ukraine Forces warn of danger of Russian ammunition exploding at Chernobyl.Ukraine Presidential Adviser says on negotiations, Ukraine has improved its position in all respects.Russian Kremlin says Ukraine has begun to put demands down on paper and be more specific which is a positive thing. Not seen anything really promising that looks like a breakthrough, there is a lot of work ahead.DEFENCE/MILITARYGovernor of Donestsk region says situation is difficult, shelling is continuing in nearly all cities around the demarcation line.ENERGY/ECONOMIC SANCTIONS & UPDATESGermany declares "Early Warning" stage of gas supply emergency to prepare for possible escalation by Russia; Economy Minister says no current gas supply shortages, gas supplies are safeguarded at the moment. Will not accept any gas contract breaches by Russia. German gas storage is at around 25% capacity - says key question is how full gas capacities will be in the Autumn. EU countries must deal with gas supply issues together.US State Department warned that Moscow may detain Americans in Russia, while it issued a Level 4 travel advisory for Ukraine and stated 'do not travel' to Ukraine, according to AFP.Russian grain exporters reportedly may request payment in Roubles, according to Kommersant.Russian Kremlin says that the idea from lawmakers of asking other nations to pay for a wide range of Russian exports in RUB should be worked on. Will not immediately demand a switch to gas payments in RUB. Changes will be gradual.OTHERSaudi-led coalition announced it is halting military operations in Yemen for the month of Ramadan to help negotiations succeed, with operations halted from this Wednesday, according to the Saudi state news agency.China confirms China-EU summit to take place virtually on April 1st; President Xi and Premier Li will attendEUROPEAN TRADEEQUITIESAPAC stocks traded mostly positive following the strong handover from the US. Nikkei 225 was pressured by weaker than expected Retail Sales and as the Yen nursed losses. Hang Seng and Shanghai Comp. were underpinned after continued PBoC liquidity efforts and a deluge of earnings.European equities (Eurostoxx 50 -0.8%) are mostly lower as optimism from Ukraine/Russia updates yesterday fades and inflation concerns were further bolstered by regional German CPIs. FTSE 100 (+0.1%) remains afloat following gains in Energy and Basic Resources names.Click here for more detail.FXYen repatriation offsets BoJ yield intervention to keep recovery intact - Usd/Jpy extends sharp retreat to circa 121.31 from 125.10 on Monday.Euro inflated by significantly stronger than expected preliminary CPI prints and further EGB/UST yield convergence - Eur/Usd takes out recent peak and probes Fib retracement in decent option expiry zone before fading around 1.1160.Kiwi rebounds on strong building approvals and improvements in NBNZ survey readings - Nzd/Usd firmly above 0.6950 and Aud/Nzd back under 1.0800.Dollar drifts ahead of ADP and more Fed commentary, with DXY under 98.000.Click here for more detail.Notable FX Expiries, NY Cut:EUR/USD: 1.1000 (2.44BN), 1.1050-60 (1.8BN), 1.1100 (2.17BN), 1.1150-55 (1.36BN), 1.1195-00 (1.64BN)USD/JPY: 122.00-05 (690M), 122.50 (250M), 122.90-00 (1.0BN)Click here for more detail.FIXED INCOMEHot inflation readings undermine EZ bonds and prompt more convergence vs Treasuries and GiltsBoJ steps up defence of YCC via scheduled and unplanned JGB purchases.UST curve tips after mixed 7 year auction ahead of ADP as a proxy for NFP.Click here for more detail.COMMODITIESWTI and Brent have continued to pare back some of the aggressive selling pressure seen during yesterday's session.From a technical standpoint, May'22 WTI has made it back up to USD 107.30 vs. yesterday's peak of USD 107.84, whilst June'22 Brent sits at 113.05 vs. yesterday's peak of USD 114.83.US Energy Inventory Data (bbls): Crude -3.0mln (exp. -1.0mln), Gasoline -1.4mln (exp. -1.7mln), Distillate -0.2 (exp. -1.6mln), Cushing -1.1mln.US House Energy and Commerce Committee is to hold a hearing next week with six oil company executives regarding rising gas prices, according to Reuters.Germany declares "Early Warning" stage of gas supply emergency to prepare for possible escalation by Russia; says no current gas supply shortages.India is to increase natural gas prices for April-Sept to USD 6.10/mmbtu from USD 2.90mmbtu currently, according to Reuters sources.Spot gold traded sideways and only marginally benefitted from the weaker greenback.Click here for more detail.NOTABLE EUROPEAN HEADLINESECB's Lagarde says in the short-term will face higher inflation and slower growth. The longer the war goes on, the higher the economic costs will be. Incoming data supports inflation outlook and will conclude APP in Q3.ECB's Kazimir says that unless their is a dramatic escalation in the conflict in Ukraine, first rate increase might come towards the end of 2022.ECB's Muller says that APP could cease in Q3 and a rate hike could come after that.BoE Deputy Governor Broadbent says that it is doubtful whether the UK has experienced an external hit to real national income on this scale. In the near term in the difficult combination of even higher inflation but weaker domestic demand and output growth.DATA RECAPUK BRC Shop Price Index YY (Mar) 2.1% (Prev. 1.8%)EU Consumer Confid. Final (Mar) -18.7 vs. Exp. -18.7 (Prev. -18.7)EU Cons Infl Expec (Mar) 59.8 (Prev. 37.7)EU Selling Price Expec (Mar) 58.1 (Prev. 49.8)Spanish HICP Flash YY (Mar) 9.8% vs. Exp. 8.1% (Prev. 7.6%)Regional CPIs from Germany have seen notable jumps from priors on a M/M and Y/Y basis ahead of the mainland metric at 13:00BST/08:00EDT.NOTABLE US HEADLINES:Fed's Bostic (2024 voter) said the Ukraine war is impacting inflation and increases uncertainty which is a risk for demand. Bostic stated the Fed is withdrawing policy support to allow the economy to stand on its own but added it could harm the economy if the Fed moves too quickly, while he reiterated that he favours six hikes for 2022.Click here for the US Early Morning NoteCRYPTOBitcoin is modestly softer but holding on to USD 47k status.APAC TRADEEQUITIESAPAC stocks traded mostly positive amid optimism from Russia-Ukraine talks in which negotiators discussed a ceasefire and with Russia to scale down military activity in Kyiv and Chernihiv, although the US was unconvinced.ASX 200 gained on continued tech strength and with consumer stocks helped on Budget support measures.Nikkei 225 fell beneath the 28,000 level after weaker than expected Retail Sales and as the Yen nursed losses.Hang Seng and Shanghai Comp. were underpinned after continued PBoC liquidity efforts and amid a deluge of earnings including from large banks in which Bank of China and China Construction Bank both topped estimates.NOTABLE APAC HEADLINESPBoC injected CNY 150bln via 7-day reverse repos with the rate at 2.10% for a CNY 130bln net injection.PBoC set USD/CNY mid-point at 6.3566 vs exp. 6.3478 (prev. 6.3640)Chinese city of Xuzhou has declared a three-day lockdown from WednesdayBoJ Governor Kuroda said he discussed a post-COVID global economy, Russia and Ukraine with PM Kishida, as well as talked about the economy and financial markets in Japan and abroad with the PM. Kuroda told Kishida FX moves should reflect economic fundamentals but they did not discuss anything in particular on FX and don't think that a monetary adjustment would have a direct impact on currencies. Furthermore, Kuroda said the yen is weakening but is driven partly by buying the dollar for energy imports and with higher US rates also a factor.BoJ announced to buy JPY 600bln in 3yr-5yr JGBs, JPY 725bln in 5yr-10yr JGBs, JPY 150bln in 10yr-25yr JGBs, JPY 100bln in 25yr+ JGBs and JPY 60bln in inflation-indexed JGBs, while it also offered to buy an unlimited amount of 10yr JGBs at a fixed rate of 0.25%. The BoJ later announced an emergency operation to buy JPY 500bln in 5yr-10yr JGBs, JPY 100bln in 10yr-25yr JGBs and JPY 50bln in 25yr+ JGBs, according to Reuters.Japan former currency diplomat Shinohara says yen decline reflects economic fundamentals to some extent, moves not very fast; meaningless for Tokyo to conduct yen-buying intervention; intervention will not have lasting effect in reversing weak yen.DATA RECAPJapanese Retail Sales YY (Feb) -0.8% vs. Exp. -0.3% (Prev. 1.6%, Rev. 1.1%)New Zealand Building Consents (Feb) 10.5% (Prev. -9.2%, Rev. -8.7%)New Zealand NBNZ Business Outlook* (Mar) -41.9% (Prev. -51.8%)New Zealand NBNZ Own Activity* (Mar) 3.3% (Prev. -2.2%)

TOPICS AND TIMESTAMPS: Don't Worry Be Happy 0:00 FED SAID WHAT? 1:01 INFLATION BREAKDOWN 4:27 $200 OIL? 8:33 Fed's Mester would back March rate hike to fight inflation | Reuters https://www.reuters.com/world/us/feds-mester-says-she-would-support-march-rate-hike-battle-persistent-inflation-2022-01-11/ Fed's Bostic says three hikes, fast balance sheet runoff needed for inflation fight | Reuters https://www.reuters.com/business/feds-bostic-says-three-hikes-fast-balance-sheet-runoff-needed-inflation-fight-2022-01-11/ Fed's Daly Joins Camp That Sees Rate Liftoff as Early as March https://ca.finance.yahoo.com/news/mester-says-shrink-fed-balance-171336823.html U.S. central bankers set sights on March rate hike | Reuters https://www.reuters.com/business/feds-daly-us-interest-rate-hikes-could-start-march-2022-01-12/ Fed's Powell Says Economy No Longer Needs Aggressive Stimulus - WSJ https://www.wsj.com/articles/powell-confirmation-hearing-could-shed-more-light-on-plans-to-contain-inflation-11641897004 2022-01-12_05-33-02.jpg (995×598) https://cms.zerohedge.com/s3/files/inline-images/2022-01-12_05-33-02.jpg?itok=WQ03jlbs 2022-01-12_05-31-55.jpg (996×596) https://cms.zerohedge.com/s3/files/inline-images/2022-01-12_05-31-55.jpg?itok=4qzZLqoQ image - 2022-01-12T054057.006.png (1280×524) https://cms.zerohedge.com/s3/files/inline-images/image%20-%202022-01-12T054057.006.png?itok=f4UGMoJM

Offshore / Powell second term as Fed chair / Fed's Bostic says he remains open to faster taper and one or two rate hikes in 2022 / Online Black Friday sales in the US fell according to data from Adobe Analytics ($8.9bn vs. $9bn) / Opec+ meeting this week, production likely to remain unchanged / Turkish lira losses 20% Local / New variant crashes markets and leisure stocks (everything) / Good Invicta results, but no dividend / Good PPC results / Brait apital raise via convertiable bond / Hospital stock results; Life Healthcare & Netcare / Banking stocks

Big news of the day is the S&P500 and Nasdaq didn't renew record yesterday. But the US equities still recorded their seventh straight monthly advance in August, which is the strongest winning streak since January 2018, and the S&P500 beat its 53rd record at Monday's close: not bad at all given that we don't only have good news on the wire. A correction? Not just yet. For now, the overall market holds on to its gains and no one dares saying ‘the king is naked'. Today, the US ADP data and Fed's Bostic's speech will be closely monitored. But, the bulls will probably read what they want to read and hear what they want to hear in data. And even if it's not the case, they will probably rapidly get over any unpleasant news to carry the rally higher, because a misstep could have dramatic consequences. In commodities, US crude remains a touch below $70pb into the OPEC meeting. OPEC is expected to stick to the production revival plan, but Saudis already warned that OPEC could well pause or reverse their unwinding of output curbs in the coming year. So what's next for oil?

Federal Reserve Bank of Atlanta President, discusses the Fed's new policy framework, the outlook for the U.S. economy and the state of U.S.-China trade relations. Techonomy CEO & Bloomberg Contributor David Kirkpatrick and Council on Foreign Relations Senior Fellow for International Economics Brad Setser weigh in on the game of chicken between China and the U.S. over TikTok. Rebecca Patterson, Bridgewater Director of Investment Research, examines the paradigm shift in central banking. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

• Europe is trading -1% which is more or less where we have been trading all morning, not really surprising given the risk off mood in Asia • China continued to outperfoming Asia again and closed +40bps...Looking at the technicals on breakout interesting to note the RSI is close to touching 90 on the SHCOMP • Friction between the UK and Beijing • Bearish sentiment comes after the Fed's Bostic comments yesterday • In terms of Sectors there is no real risk direction there, Autos UNCH are relatily outperforming and Banks and Pharma both-down around 150bps.. Are at the bottom of the pile • Cellnex in focus with press spec of a €3b capital raise to fund future acquisitions... • Sodexo -6% despite org growth -29.9% Q3 organic revenue growth is ahead of -36.2% consensus.. Iterestinly looks like the market has paid more attention to the Q4 guidance which was reduced from -15% to -27% • Bank of Italy data shows LTRO lending to domestic banks rising to €345bn in June, up from €291bn in May (and €215bn at the start of the year).

Stephen Stanley, Amherst Pierpont Securities Chief Economist, says that the bulk of the damage done to the U.S. economy is due to uncertainty from trade rather than tariffs themselves. Miranda Carr, Haitong International Senior Macro Strategist, says the trade war is hurting, but not destroying China's economy. Geetha Ranganathan, Bloomberg Intelligence Media Analyst, says Disney is firing on all cylinders with a 'streaming first' mentality. Raphael Bostic, Atlanta Federal Reserve President & CEO, says the Fed is 'slightly accommodative.' Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Jonathan Golub, Credit Suisse Chief US Equity Strategist, says the likelihood of a recession is very low. Sonali Basak, Bloomberg Investment Banking Reporter, discusses the possibility of a leadership change at Deutsche Bank. Bill Schneider, George Mason Professor & Author, "Standoff: How America Became Ungovernable", thinks Joe Biden's candidacy represents a return to normal. Raphael Bostic, Federal Reserve Bank of Atlanta President, does not see a rate cut this year.  Learn more about your ad-choices at https://www.iheartpodcastnetwork.com