• European bourses have coat-tailed on the positivity seen on Wall Street yesterday; sectors overall project a modest defensive bias
• US equity futures are firmer across the board – with the NQ narrowly leading the pack, whilst the ES topped resistance at 3,800
• DXY resides towards the bottom of a relatively contained intraday range, still above 104.00; NZD outperforms
• Debt recoils after stretching recovery limits further, with trading volumes...

• APAC stocks ultimately followed suit to the gains on Wall St where major indices clawed back opening losses; S&P 500 +1.0%.
• European equity futures are indicative of a firmer open with Eurostoxx 50 +1.1% after the cash market closed lower by 0.8% yesterday.
• DXY is a touch softer but still on a 104 handle, antipodeans lead G10 FX and GBP shrugs off a tough night for the Tories.
• UK PM Johnson's Conservatives lost the two by-elections,...

• European bourses are pressured overall, but well off lows going into the US session, Euro Stoxx 50 -0.2%
• Broad pressure was seen post-PMIs which missed expectations and featured pessimistic internal commentary; hitting EUR and lifting EGBs
• EUR impaired by the PMIs which lifted the DXY to a 104.78 peak and pressured peers in turn, though JPY outperforms on risk
• Fixed firmer on the data with Bunds and OATs leading the way and peers lifted in...

• APAC stocks were mostly positive following the choppy price action on Wall St with lower oil prices and recession fears in focus; S&P 500 -0.17%. 
• European equity futures are indicative of a softer open with Eurostoxx 50 -0.5% after the cash market closed lower by 0.8% yesterday.
• DXY is a touch softer but maintains 104 status, EUR/USD encountered resistance around 1.06, JPY leads G10 FX. 
• Looking ahead, highlights...

• European bourses are subdued, Euro Stoxx 50 -1.9%, as Tuesday's positivity waned in the APAC session as commodities slipped
• Stateside, futures are in-fitting with the above action, ES -1.4%, where participants are awaiting the first session of testimony from Chair Powell
• DXY bid but mid-range pre-Powell with peers conforming to the tone as JPY & CHF benefit while activity currencies slip
• Commodities are, broadly speaking, curtailed...

• APAC stocks were subdued after the risk-on mood from Wall Street (S&P 500 +2.45%) waned overnight amid pressure in commodities.
• European equity futures are indicative of a lower open with Eurostoxx 50 -1.3% after the cash market closed higher by 0.7% yesterday. 
• DXY is firmer but still on a 104 handle, EUR/USD has lost 1.05 status, antipodeans lag. 
• Crude benchmarks took another leg lower as risk appetite in Asia...

• European bourses are firmer and building on Monday's upside, Euro Stoxx 50 +1.1%; US futures are modestly outperforming, ES +1.7%, post-market holiday
• DXY is downbeat and sub-104.00 at worst; benefitting G10 peers ex-JPY given the region sticking to its monetary policy stance
• Core debt is within ranges and little changed overall though USTs are incrementally softer and the curve flitting between flattening/steepening
• Crude lifts amid broader...

• APAC stocks gained across the board amid a broadly constructive global risk tone (US markets closed yesterday)
• European equity futures are indicative of a higher open with Eurostoxx 50 +0.6% after the cash market closed higher by 0.9% yesterday
• DXY trades a touch softer, EUR/USD sits on a 1.05 handle, AUD leads G10 FX
• Crude futures continued to nurse some of Friday's heavy losses, helped by the risk tone and a softer...

• APAC stocks were mostly negative with risk appetite cautious and global markets also likely to be hampered by the absence of US participants today.
• European equity futures are indicative of a softer open with Eurostoxx 50 -0.3% after the cash market closed higher by 0.3% yesterday.
• DXY is softer and on a 104 handle, AUD leads G10 FX, EUR/USD is back on a 1.05 handle. 
• French President Macron failed to win an absolute majority in...

• MON: PBoC LPR
• TUE: New Zealand Trade Balance (May); Canadian Retail Sales (Apr); RBA Minutes
• WED: CNB Announcement; UK Inflation (May); Canadian Inflation (May)
• THU: Norges Bank Announcement; CBRT Announcement; Banxico Announcement; EZ/UK/US Flash PMIs (Jun)
• FRI: Japanese CPI (May); UK Retail Sales (May); German Ifo Survey (Jun)

NOTE: Previews are listed in...

• European bourses are now firmer across the board, Euro Stoxx 50 +1.2%, as performance picks up following a mixed open amid comparably quiet newsflow
• US futures are in-fitting though the overall complex is cognisant of Quad Witching & Chair Powell
• DXY bid as the JPY tumbles amid the BoJ bucking the trend and remaining ultra-accommodative; activity-FX also hampered
• Core debt has seen a concerted bounce from earlier lows, though action has...

• APAC stocks mostly suffered firm losses amid the global risk-aversion which saw the S&P 500 close lower by 3.1%.
• BoJ kept policy settings unchanged as expected and will keep offering to buy 10yr JGBs at 0.25%.
• DXY has reclaimed 104 status, JPY is the clear laggard in G10 FX, EUR/USD sits on a 1.05 handle. 
• European equity futures are indicative of a positive open with Eurostoxx 50 +0.8% after the cash market closed lower by...

• European bourses and US futures are hampered following a surprise SNB hike, with pronounced price action seen across assets
• SNB hikes by 50bp to -0.25% and cannot rule out further increases ahead; sparking noted CHF appreciation
• DXY is well off best levels, but has recouped 105.00 as activity currencies come under pressure while CHF & JPY outperform
• Bonds collapse as SNB unexpectedly strikes against inflation; with USTs back to...

• APAC stocks were mostly positive and followed suit to the gains on Wall Street post-FOMC; SPX +1.46%
• The Fed hiked rates by 75bps and lifted its FFR projections, Fed Chair Powell said he does not expect 75bps moves to be common
• European equity futures are indicative of a positive open with Eurostoxx 50 +0.3% after the cash market closed higher by 1.6% yesterday
• DXY has rebounded from the post-FOMC declines, JPY lags G10 FX, GBP eyes the...

• US futures are firmer across the board, ES +0.3%, though overall action here is more contained than in Europe given the FOMC looms
• European bourses are supported amid an ad-hoc ECB meeting on current market conditions, an update which bolstered the EUR and narrowed the BTP-Bund spread
• However, the spread re-widened amid sources which did not appear to indicate a marked policy shift from the gathering
• Broader FX features a downtrodden DXY to...

• APAC stocks traded mixed following a mostly negative US lead and better-than-expected Chinese activity data.
• European equity futures are indicative of a mildly positive open with Eurostoxx 50 +0.3% after the cash market closed with losses of 0.8% yesterday.
• DXY is relatively flat ahead of the European open, JPY leads G10 FX, Cable is back below 1.20.
• ECB's Schnabel said the ECB will not tolerate changes in financing conditions that threaten...

• European bourses began on the front-foot; however, the ‘turnaround’ was shortlived with bourses now red across the board, Euro Stoxx 50 -0.8%.
• Stateside, futures remain modestly positive, ES +0.4%, awaiting clarity from the Fed amid increasing speculation of a 75bp move
• DXY continues to slip with peers mixed with low-yielding nations benefitting though activity currencies slip once more
• Core debt has consolidated somewhat from Monday’s rout,...

• European bourses began on the front-foot; however, the ‘turnaround’ was shortlived with bourses now red across the board, Euro Stoxx 50 -0.8%.
• Stateside, futures remain modestly positive, ES +0.4%, awaiting clarity from the Fed amid increasing speculation of a 75bp move
• DXY continues to slip with peers mixed with low-yielding nations benefitting though activity currencies slip once more
• Core debt has consolidated somewhat from Monday’s rout,...

• APAC stocks were pressured following the global stock and bond slump; S&P 500 -3.9%, NQ -4.6%
• A WSJ piece noted the Fed is likely "to consider surprising markets with a larger-than-expected 0.75-percentage-point interest rate increase at their meeting this week".
• European equity futures are indicative of a higher open with Eurostoxx 50 +0.9% after the cash market closed with losses of 2.7% yesterday.
• DXY pulled back overnight, EUR/USD...

• European bourses are hampered across the board, Euro Stoxx 50 -2.5%, in a continuation of the fallout from Friday's US CPI and amid fresh COVID concerns in China.
• US futures are in-fitting with this price action, ES -2.4% (sub-3800 at worst), ahead of the FOMC where the likes of Barclays now look for a 75bp hike after the May inflation release.
• DXY continues to climb and has peaked at 104.75 thus far, ahead of the 105.01 YTD best; peers are pressured as such though...

• APAC stocks declined across the board following the hot US CPI and amid fresh COVID concerns in China.
• European equity futures are indicative of a lower open with Eurostoxx 50 -1.5% after the cash market closed with losses of 3.4% on Friday.
• DXY held on to recent gains, EUR/USD is back below 1.05 and USD/JPY breached 135 for the first time since February 2002.
• UK government will publish legislation on the Northern Ireland Protocol...

• MON: UK GDP Estimate (Apr).
• TUE: UK Jobs Data (Apr/May); Swedish CPI (May); German ZEW Survey (Jun); US PPI (May); OPEC MOMR.
• WED: FOMC Announcement; BCB Announcement; Chinese Industrial Production and Retail Sales (May), French CPI (May), US Retail Sales (May), New Zealand GDP (Q1); IEA OMR.
• THU: BoE Announcement; SNB Announcement; Australian Labor Market Report (May).
• FRI: Quad Witching; BoJ Announcement;...

• European bourses are pressured in a continuation of the APAC handover, Euro Stoxx 50 -1.6%
• US futures are mixed/flat for the most part, ES -0.2%, ahead of the US CPI release
• DXY is bid but off 103.49 best levels while antipodeans/JPY outperform as GBP and CAD lag
• BTP-Bund yield spread continues to gradually widen, though Bund upside is offsetting this somewhat
• USTs pivot the unchanged mark pre-CPI, yield curve...

• APAC stocks were mostly negative after the glum mood rolled over from global counterparts (S&P 500 -2.4%)
• European equity futures are indicative of a lower open with Eurostoxx 50 -0.9% after the cash market closed with losses of 1.7% yesterday
• DXY is softer but maintains 103 status, EUR/USD remains on a 1.06 handle, JPY leads G10 FX
• Crude futures declined amid COVID woes and with pressure seen as Chinese commodities came...

• Equities are, overall, struggling for clear direction in relatively cautious trade going into ECB; Euro Stoxx 50 -0.5%
• Bourses, and US futures, were lifted amid further constructive China tech developments, this time for Ant; albeit, we have drifted modestly off best since, ES +0.3%
• DXY remains in proximity to 152.00 and within yesterday’s parameters amid JPY and Yuan upside while EUR lies between sizeable OpEx
• Core debt is choppy but Bunds...