• European bourses are firmer across the board, Euro Stoxx 50 +0.1%, though trade has been very contained/steady with the UK away.
• Stateside, the narrative is much the same with futures flat ahead of key Fed-related events and the focus thus far on BRK.B and debt ceiling.
• Biden to meet McCarthy & others on Tuesday re. debt limit, via FT; said he would not rule out invoking the 14th amendment
• DXY is softer and edging towards 101.00 with...

• APAC stocks mostly gained as the region took impetus from Friday's rally on Wall St and strong US jobs data.
• Fed's Bullard (non-voter) said he thinks the Fed will ultimately have to grind higher on rates because of forecasts for a slower decline in inflation than others.
• US President Biden is to meet with House Speaker McCarthy and other top congressional leaders on Tuesday regarding the debt limit crisis, according to FT.
• European equity...

Week Ahead May 8-12th

• MON: UK Bank Holiday, EZ Sentix Index (May), German Final CPI (Apr), Fed SLOOS
• TUE: Riksbank Minutes, NBH Announcement, EIA STEO, Chinese Trade Balance (Apr)
• WED: Norwegian CPI (Apr), US CPI (Apr)
• THU: BoE Announcement, BoJ Summary of Opinions, OPEC MOMR, Chinese Inflation (Apr), US PPI (Apr)
• FRI: New Zealand Inflation Forecasts (Q2), UK GDP (Mar/Q1), French CPI...

• European bourses and US futures are firmer despite the mixed APAC session as participants await NFP
• Within this, DAX 40 outperformers aided by German electricity adjustments and strong Adidas earnings.
• ABA is urging the SEC to investigate short-selling activity while the White House is hopeful on avoiding a debt default.
• AUD outperforms after hawkish-SOMP while CHF lags post-CPI; USD is softer but relatively...

• APAC stocks traded mixed after the weak lead from the US where risk sentiment was subdued by banking-related headwinds.
• US federal and state officials are reportedly assessing possible market manipulation regarding banking shares.
• European equity futures are indicative of a higher open with the Euro Stoxx 50 +0.5% after the cash market closed down 0.5% yesterday.
• Sources revealed ECB policymakers agreed to a smaller rate increase in return...

• European bourses are pressured following the subdued APAC/US handover, stateside performance is currently mixed/rangebound with a focus on regional banks/earnings.
• DXY nears 101.50 from a 101.02 base as the Euro failed to eclipse 1.11 with peers contained ex-out/underperformance in NZD and CHF
• Crude benchmarks are firmer after an initial marked slump overnight; Shell says they are nearing 2019 levels of oil demand in China
• UST yields...

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The consensus among analysts and market pricing is that the ECB will opt for a 25bps hike in the Deposit Rate to 3.25%. Policymakers have indicated that the options are between a 25bps and 50bps hike, with the aim of bringing inflation back to target. Considering the political nature of the...

• Fed delivered a 25bps hike and opened the door to a pause, although Powell was reluctant to officially call it one and pushed back on talk of rate cuts.
• PacWest Bancorp (PACW) is said to weigh strategic options including a sale, according to Bloomberg.
• APAC stocks were mixed in the aftermath of the FOMC which saw US stocks mostly decline post-Powell presser.
• European equity futures are indicative of a marginally softer open with the Euro...

• European futures are on the front-foot with US futures in-fitting after Tuesday's regional banking pressure.
• DXY continues to slip as USTs advance pre-FOMC, NZD leads while EUR and GBP eye 1.1050 and 1.2550.
• Crude benchmarks came under marked pressure despite limited fresh catalysts as focus remains on the broader growth outlook.
• "Several House GOP leadership sources said they would want to see the Senate pass a short-term debt-limit hike...

• APAC stocks were mostly negative following the losses on Wall St amid regional bank jitters which resulted in the regional banking ETF closing down by over 6%.
• White House said they have the tools necessary to keep the banking system safe and the FDIC will continue to monitor the banking situation.
• European equity futures are indicative of a higher open with the Euro Stoxx 50 +0.5% after the cash market closed lower by 1.5%...

• European bourses mostly softer in catch-up trade from the long weekend, US futures similar with attention on the Fed, debt ceiling & earnings
• AUD outperforms after a RBA hike and hawkish guidance, DXY picking up above 102.00 after pivoting the figure while EUR & GBP fade
• EGBs softer in corrective post-ISM trade though off lows as the ECB BLS sparked a dovish reaction
• Subsequently, the EZ Flash HICP measure saw little sustained...

• APAC stocks traded with a slight positive bias as many of the regional participants returned to the market from the long weekend.
• The RBA surprised markets with a 25bps rate increase, while the central bank's language remained hawkish with the Board expecting some further tightening of monetary policy will be needed.
• European equity futures are indicative of a mildly higher open with the Euro Stoxx 50 +0.2% after the index was unchanged...

• MON: South Korean Import/Export Growth (Apr), US S&P Global Manufacturing PMI Final (Apr), US ISM Manufacturing PMI (Apr), European Labour Day Holiday, UK Early May Bank Holiday
• TUE: RBA Announcement, South Korean CPI (Apr), German Retail Sales (Mar), EZ Flash CPI (Apr), US Durable Goods R (Mar), New Zealand Jobs (Q1)
• WED: FOMC Announcement, RBNZ FSR, CNB Announcement, BCB Announcement, Japan Constitution Day Holiday, EZ Unemployment (Mar), US ADP...

• European sentiment pressured by Flash-Prelim. growth data while earnings remain in focus
• A dynamic that has eased somewhat since the EZ-wide figure, Euro Stoxx 50 -0.7%, with attention on upcoming US data points/earnings
• AMZN initially rose but is currently -2% in pre-market with the focus on AWS; in Europe, banking names lag amid NatWest and yield action
• DXY eclipsed 102.00 as JPY sinks as BoJ maintains ultra-easy policy and gives dovish...

• APAC stocks were positive after taking impetus from the rally on Wall St while the region also digested a slew of earnings, data and the BoJ.
• BoJ kept policy settings unchanged, tweaked its forward guidance which remained dovish and announced it is to conduct a policy review.
• Amazon shares initially rose by some 9% in after-hours trade post-earnings before dropping to losses of 2% with some highlighting the Co. signalling lower AWS...

• European bourses relatively contained but with an underlying positive skew after a deluge of earnings.
• NQ outperforms post-META (+11% pre-market) with AMZN, among others, ahead.
• DXY edges above 101.50 with antipodeans outperforming while JPY and CHF are undermined by yields.
• EGBs remain subdued but have bounced off initial lows post-supply, USTs in-fitting pre-7yr/GDP
• Crude consolidates with metals mixed overall...

• APAC stocks traded mixed with most of the major indices subdued amid the banking sector headwinds in the US and as participants digested a deluge of earnings releases.
• European equity futures are indicative of a weaker open with Euro Stoxx 50 future -0.3% after the cash market closed lower by 0.7% yesterday.
• DXY is lacking in direction, EUR/USD lingers around 1.1050, GBP/USD is back below 1.25, NZD outperforms peers.
• US House voted 217 vs...

• European bourses are lower across the board, continuing the APAC tone with regional earnings impacting Industrial & Tech.
• Stateside, futures are mixed with pronounced NQ outperformance with GOOGL +1.1% & MSFT +7.9% in pre-market trade.
• SEK crushed after dovish 50bp Riksbank hike, DXY further below 101.50 with EUR & GBP extending while AUD lags.
• Fixed benchmarks are contained but diverging slightly with EGBs slightly firmer while...

• APAC stocks were mostly lower after the losses on Wall St where banking sector fears resurfaced as First Republic Bank shares fell by 50%.
• First Republic (FRC) is struggling to come up with a viable solution such as a sale of all or part of the bank, according to the FT.
• US equity futures found some reprieve overnight from big tech earnings; Alphabet +1.7% after-hours, Microsoft +8.5%.
• European equity futures are indicative of...

• European bourses are under pressure continuing the APAC handover with drivers light ex-earnings.
• SMI outperforms following Nestle, Novartis and ABB while Banking names lag after UBS and Santander.
• Stateside, futures are lower; FRC -19.5% in pre-market as deposits miss expectation.
• DXY firmer but at the mid-point of the day's range with JPY outperforming while AUD lags once again
• Core debt is bid across the board with...

• APAC stocks were mostly lower after the mixed performance in the US with the mood in the Asia-Pac region also contained amid the closures in Australia and New Zealand
• BoJ Governor Ueda said the BoJ sees it appropriate to maintain YCC and easy monetary policy
• European equity futures are indicative of a softer open with Euro Stoxx 50 future -0.3% after the cash market closed lower by 0.2% yesterday
• FX markets are overall contained, EUR/USD...

• European bourses/US futures are posting marginal losses in a relatively slow start to a packed week.
• DXY has slipped towards 101.50 with CHF & EUR outperforming while AUD & JPY lag though overall action is limited.
• Gilts are flat and leading a modest retreat in EGBs with Bunds pressured by Ifo while USTs remain near APAC peak.
• Crude and base metals are softer, in-line with broader sentiment, while spot gold is essentially...

• APAC stocks were mixed after the lack of macro drivers over the weekend and as participants brace for this week’s key events
• European equity futures are indicative of a contained open with Euro Stoxx 50 future -0.1% after the cash market closed higher by 0.5% on Friday
• DXY was uneventful on a 101 handle, EUR/USD eyes 1.10 to the upside, AUD the marginal laggard across the majors
• Russian Security Council Deputy Chairman Medvedev warned that...

• MON: German Ifo Survey (Apr).
• TUE: Riksbank Announcement, South Korean GDP (Q1), US Richmond Fed Index (Apr), New Zealand Trade Balance (Mar)
• WED: BoC Minutes, Australian CPI (Mar/Q1), US Durable Goods (Mar).
• THU: CBRT Announcement, EZ Business Climate (Apr), US GDP Adv. (Q1)/ PCE Prices Adv. (Q1).
• FRI: BoJ Announcement and Outlook Report, Eurogroup meeting, Japanese Tokyo CPI (Mar)/ Retail Sales (Mar)/...

• European bourses are mixed/flat overall, as the complex reverted back to opening parameters after a hawkish move lower on the regions Flash PMIs; US futures in-fitting
• DXY firmer but back below 102.00, JPY outperforms while Antipodeans lag. GBP hit on retail sales and as EUR lifts on PMIs, though OpEx caps
• EGBs have lifted off troughs after initially dropping on hawkish PMIs
• Commodities choppy but have been tracking the above market action...