• European bourses & US futures are entirely in the red; Tech lags stateside given META & MSFT while European banks slip
• JPY leads post-BoJ with USD lower into PCE & weekly jobs, EUR unreactive to HICP while Cable nears 1.30
• Gilts remains for sale though the morning's DMO auction went well, EGBs and USTs soft in tandem with yields bid and curves flattening
• Crude ultimately firmer with two-way geopolitical updates factoring,...

• APAC stocks were mostly subdued following the negative handover from the US; participants also digested mixed Chinese PMIs.
• BoJ kept rates unchanged as expected and refrained from any fresh policy clues.
• European equity futures are indicative of a negative cash open with the Euro Stoxx 50 future -0.5% after the cash market closed lower by 1.3% on Wednesday.
• US equity futures (ES -0.5%, NQ -0.7%) were hampered by after-market earnings from...

• European bourses opened in negative territory and continued to trundle lower as the morning progressed, Tech lags post-AMD
• Stateside, futures are firmer but only modestly so with Alphabet supporting as AI bolstered cloud performance
• DXY briefly dipped below the 104.00 mark, EUR aided by hawkish-data while GBP awaits the budget
• USTs continue to gain after Tuesday's 7yr into Refunding, Bunds weighed on by...

• APAC stocks were mostly lower after the mixed performance stateside and as participants braced for this week's key risk events.
• Alphabet Inc (GOOGL) Q3 2024 (USD): Adj. EPS 2.12 (exp. 1.84), Revenue 88.27bln (exp. 86.31bln). Co. shares were higher by 5.9% after-hours.
• European equity futures are indicative of a weaker cash open with the Euro Stoxx 50 future -0.4% after the cash market closed lower by 0.4% on Tuesday.
• DXY is steady on a 104...

• APAC stocks were ultimately mixed alongside a lack of fresh catalysts heading into this week's key data releases.
• European equity futures are indicative of a marginally positive cash open with the Euro Stoxx 50 future +0.1% after the cash market closed higher by 0.5% on Monday.
• In FX, DXY is steady, JPY is attempting to claw back recent losses, antipodeans marginally lag, EUR/USD remains on a 1.08 handle.
• The Israeli cabinet decided...

• European bourses are on a firmer footing, traders garnering optimism following the relatively moderate Israeli attack on Iran, which saw the former avoid hitting energy/nuclear facilities; US futures also benefit.
• USD is mixed, losing vs EUR & GBP but significantly stronger vs JPY after the Japanese general election which has seen the ruling coalition lose its parliamentary majority.
• Bonds are pressured by the removal of geopolitical risk premia, but have lifted...

• APAC stocks were mostly positive as markets digested key events over the weekend including Israel's strike on Iran and the Japanese election.
• Israel's strike on Iran was aimed at military targets and not petroleum or nuclear facilities; Iran President said will respond.
• Japan’s ruling coalition lost its parliamentary majority in Sunday’s election; the ruling party may seek partners in an effort to form a government.
• European equity...

• SUN: Japanese LDP Election
• MON: Japanese Jobs Report (Sep)
• TUE: German GfK (Nov), US JOLTS (Oct)
• WED: UK Budget, Australian CPI (Sep), Spanish Flash CPI (Oct), US ADP (Oct), German Flash GDP (Q3) and Prelim CPI (Oct), EZ Prelim GDP (Oct), US GDP Advance (Q3), Japanese Retail Sales (Sep)
• THU: BoJ Announcement and Outlook Report, Chinese NBS PMI (Oct), French Flash CPI (Oct), EZ Flash CPI (Oct), US Quarterly...

• European bourses hold a slight positive tilt after initially opening on a modestly weaker footing; US futures are entirely in the green.
• Dollar is flat ahead of Durable Goods, JPY was fairly unreactive to mixed Tokyo CPI.
• USTs are flat but directionally in-fitting with the pressure seen in Bunds, sparked by strong German Ifo metrics.
• Crude is very modestly firmer but ultimately within a contained range, XAU/base metals are...

• APAC stocks bolstered by the the Wall St. handover though with upside capped given ongoing geopolitical uncertainty
• FX relatively contained with specifics light in overnight trade
• Fixed benchmarks remained afloat, JGBs edged mild gains after mixed Tokyo CPI
• Crude benchmarks attempted to nurse Thursday's losses, metals rangebound echoing FX
• Looking ahead, highlights include EZ M3, German Ifo, US Durable Goods, UoM...

• European bourses are entirely in the green and reside just off session highs; US futures also gain, with NQ outperforming after strong TSLA (+10.7%) results.
• Dollar is on the backfoot giving back some of this week’s gains, JPY outperforms with USD/JPY scaling back to a 151 handle.
• USTs/Bunds are on a firmer footing, with EZ PMIs continuing to paint a dire picture in Europe; Gilts are the clear underperformer amid reports that Chancellor Reeves will announce major...

• APAC stocks traded cautiously following the losses stateside as participants digested earnings releases and negative stock-specific updates, while yields also continued to edge higher.
• DXY has pulled back a touch from recent gains, EUR/USD lingers just below the 1.08 mark, USD/JPY sits on a 152 handle.
• European equity futures are indicative of a contained cash open with the Euro Stoxx 50 future -0.1% after the cash market closed lower by 0.3% on...

• European bourses are generally trading in negative territory; US futures follow suit, ahead of a busy earnings slate.
• DXY continues to march higher, USD/JPY climbs back above 152 to a current 152.74 peak.
• USTs are modestly lower ahead of 20yr supply; Bunds were unreactive to a well-received 10yr auction.
• Crude is subdued and continues to await geopolitical updates; XAU is slightly higher whilst base metals are mostly in the...

• APAC stocks were ultimately mixed with the upside capped following the inconclusive performance on Wall St amid a lack of fresh macro drivers, recent upside in yields and ongoing geopolitical tensions.
• ECB policymakers are beginning to debate whether rates will have to go below neutral level in the current easing cycle, according to sources cited by Reuters.
• Israel’s army completed its preparations to attack Iran, and it seems that it will be within days, according...

• European bourses are entirely in negative territory, with initial outperformance in the DAX 40 (due to strong SAP results) now entirely erased; US futures are also lower.
• Dollar is flat, Antipodeans outperform attempting to recoup some of its recent losses.
• Bonds remain on the backfoot in a continuation of the pressure seen in the prior session
• Crude was initially subdued, giving back some of the prior day’s gains; however, following two key...

• APAC stocks traded mixed with participants somewhat cautious following the mostly negative bias stateside.
• European equity futures are indicative of a slightly positive cash open with the Euro Stoxx 50 future +0.1% after the cash market closed lower by 0.9% on Monday.
• DXY is just below the 104 mark, antipodeans are looking to claw back recent losses, USD/JPY is north of the 150 level.
• Fed's Daly (2024 voter) said she has not seen anything so...

• European bourses are generally trading in negative territory, but the FTSE 100 remains afloat owning to gains in Energy/Mining names; US futures are mixed.
• Dollar is firmer, JPY underperforms with USD/JPY attempting to test 150 to the upside.
• Bonds are entirely in the red, Bunds were initially lifted by soft German producer prices, but ultimately succumbed to selling pressure.
• Crude climbs higher attempting to recoup some of the prior week’s...

• APAC stocks began the week mostly positive although gains were capped by the lack of fresh macro catalysts.
• PBoC announced a 25bps cut to China's benchmark LPRs, as expected.
• Israeli PM Netanyahu has said he is undeterred from his war aims following a reported drone attack on his private residence, via BBC.
• European equity futures are indicative of a contained cash open with the Euro Stoxx 50 future -0.1% after the cash market closed higher...

• MON: PBoC LPR
• TUE: NBH Announcement, IMF World Economic Outlook
• WED: BoC Announcement
• THU: EZ/UK/US Flash PMIs (Oct)
• FRI: PBoC MLF (TBC), CBR Announcement, Japanese Tokyo CPI (Oct), German Ifo (Oct), US Durable Goods (Sep), US University of Michigan Final (Oct)

PBOC LPR (MON): PBoC will announce the latest Loan Prime Rates next week in which Chinese banks are likely to reduce the...

• European bourses mixed/firmer given China tailwinds; NQ +0.5%, driven by NFLX +5%
• USD is broadly softer vs peers, GBP outperforms after Retail data, Antipodeans benefit from China data & PBoC musings
• Fixed benchmarks relatively contained, Gilts initially hit on data while EGBs & USTs attempt to move higher
• Choppy trade for Crude into a weekend of potential geopolitical risk. Metals glean support from...

• APAC stocks followed suit to the mixed performance stateside as the region digested further support measures from the PBoC and a slew of Chinese data including mixed Q3 GDP, better-than-expected activity data, and a further decline in House Prices.
• Chinese sentiment was eventually lifted after comments from PBoC Governor Pan who reiterated that they could cut RRR further this year and noted expectations for a 20bps-25bps reduction in the Loan Prime Rates on...

• European bourses trade mostly firmer but to varying degrees, with tech sentiment briefly lifted after strong TSMC results; US futures also gain.
• The dollar is flat, AUD benefits from the stronger-than-expected jobs data, whilst the Loonie underperforms.
• Bonds are on the backfoot and awaiting today’s key risk events which include US Retail Sales and the ECB Policy Announcement.
• Crude oil is choppy and trading on either side of the unchanged...

• APAC stocks were mostly in the green following the rebound of equity markets stateside.
• A press briefing by several Chinese government agencies and the PBoC failed to inspire a turnaround in the property sector.
• European equity futures are indicative of a softer cash open with the Euro Stoxx 50 future -0.1% after the cash market closed lower by 0.8% on Wednesday.
• DXY is steady above the 103.50 mark, AUD leads post-jobs data, EUR/USD trades...

• European bourses are mostly lower, with sentiment hit following poor LVMH/ASML results; the FTSE 100 leads after the region’s cooler-than-expected inflation metrics.
• Dollar is flat, GBP is the clear underperformer after headline/services inflation figures declined more than expected.
• Bonds continue to build on the prior day’s gains, with upside also fuelled by the aforementioned UK CPI report, which has led to clear outperformance in...

• APAC stocks were mixed with early declines seen post-losses on Wall Street following disappointing earnings updates from ASML and LVMH.
• Fed's Daly (2024 voter) said if forecasts are met, she sees one or two more rate cuts this year.
• European equity futures are indicative of a negative cash open with the Euro Stoxx 50 future -0.7% after the cash market closed lower by 1.9% on Tuesday.
• DXY is holding above the 103 mark, EUR/USD is sub-1.09,...