• Asian equity markets weakened amid headwinds from the US where all major indices declined
• Losses in the US were led by tech and consumer discretionary names amid a slew of hawkish Fed speak
• European futures are indicative of a softer open with the Eurostoxx 50 future lower by 0.8%
• Chinese trade figures showed weaker than expected Imports although Exports topped estimates
• Bank of Korea hiked rates by 25bps for a third...

• European bourses are contained with US futures equally uninspiring, ES +0.1%; in Europe, sectors has Tech, +1.1%, notably outperforming given TSMC read-across
• DXY remains subdued moving further below 95.00 to the benefit of peers across the board; conversely, core debt is relatively calm before more key US events
• Russian Kremlin says talks with the West were "unsuccessful", sanctioning Putin would be comparable to severing relations
• Some...

• Asia-Pac stocks traded mixed following the choppy session in the US where major indices eked mild gains
• European futures are indicative of a flat open with the Eurostoxx 50 Mar'22 contract near the unchanged mark
• In FX, the DXY heads into the European open a touch softer and in close proximity to the 95.00 mark
• Fed's Bullard has said that four rate hikes in 2022 now appear likely
• Looking ahead, highlights include US...

• European bourses are firmer continuing from upbeat APAC performance while US futures are more contained but retain a positive bias pre-CPI, ES +0.1%, NQ +0.3%
• Chinese inflation metrics cooled from the prior and came in below expectations
• The DXY is towards the top of a narrow range with peers generally contained ex-crude sensitive FX, given benchmark action
• USTs are cautious as we await data, Fed speak and supply while EGBs, led by Bunds,...

• Asia-Pac bourses traded positively as stocks took their cue from the energy and tech-led gains in the US
• US indices closed higher across the board with the Nasdaq outpacing peers with gains of 1.4%
• Chinese inflation metrics cooled from the prior and came in below expectations
• The DXY languished around two-month lows near 95.50. Activity currencies lead in the G10 FX space
• Looking ahead, highlights include US CPI,...

• European bourses and US futures are firmer following yesterday's US rebound, ES +0.3%, but off best pre-Powell's testimony
• Fed Chair Powell’s prepared remarks noted the economy has rapidly strengthened despite the ongoing pandemic
• Fed's Bostic (2024 voter) sees three 2022 hikes, risks of a fourth on the possibility of higher inflation
• DXY remains sub-96.00 and continues to drift with peers ex-JPY modestly firmer while debt is choppy but...

• Asian equities were subdued following on from the mostly negative lead from Wall St
• US stocks declined at the open, but then finished off lows and the Nasdaq fully recovered from a near-3% drop as yields wavered
• DXY is softer and back on a 95 handle as activity currencies gain and EUR/USD gains a firmer footing above 1.13
• Fed Chair Powell’s prepared remarks noted the economy has rapidly strengthened despite the ongoing...

MON: Japanese Old Age Day, EZ Sentix (Jan), Unemployment (Nov), US Employment Trends (Dec), Wholesale Inventory/Sales (Nov), Chinese M2 /New Yuan Loans (Dec)

TUE: EIA STEO; Australian Retail Sales (Nov), Japanese Coincident Index/Leading Indicator (Nov), UK GDP Estimate (Nov), US NFIB (Dec), Redbook (w/e Jan 3rd)

WED: Chinese CPI (Dec), EZ Industrial Production (Nov), US CPI (Dec)

THU: US Initial/Continued Jobless Claims (w/e Jan 3rd/Dec...

• Indecisive and somewhat choppy trade amid a thin docket; Euro Stoxx 50 -0.1%, ES U/C, NQ -0.3%
• In FX, the DXY tested 96.00 to the upside with peers mixed but relatively contained while USTs/EGBs recovered from initial pressure
• US Senator Manchin reportedly no longer supports a USD 1.8trl Build Back Better counterproposal, via Washington Post
• US-Russia talks have begun and initial commentary seemingly downplays the prospect of a...

• Asia-Pac markets traded mixed and US equity futures were initially pressured after last Friday's post-NFP weakness
• Ongoing Omicron woes and the absence of Japanese participants further added to the uninspired mood
• China reported its first community transition of the Omicron variant in Tianjin which is a gateway city to Beijing
• In FX, the DXY is firmer but sub-96.00, EUR/USD has reclaimed 1.13, USD/JPY remains on a 115...

• European bourses/US futures are mixed but generally contained amid minimal newsflow pre-NFP/Fed speak; ES +0.2%
• DXY remains downbeat but off worst and yet to test 96.00 with main peers little changed and both EUR and GBP unreactive to respective data
• Core debt is similarly confined while crude continues to climb absent catalysts though geopols draw focus
• China may still ease policy in Q1 despite the hawkish Fed, according to reports citing...

• Asia-Pac equities traded mostly higher; US equity futures held onto mild gains
• In FX, DXY was subdued, EUR/USD and GBP/USD probed 1.1300 and 1.3550 respectively
• Fed's Bullard (hawk, voter) said the first rate hike could come in March and said the balance sheet run-off should start shortly after
• China may still ease policy in Q1 despite the hawkish Fed, according to reports citing China's Securities Journal
• Crypto...

• European bourses are pressured, Stoxx 600 -1.0%, following a downbeat APAC handover given the FOMC Minutes spillover; NQ, -0.4%, continues to lag
• European Banking names are the primary outperformer given yield action as the US 10yr nears 1.75% and the German equivalent 0.00% (best -0.033%)
• DXY is positive but has been pressured as FX peers receive a boost for the broad yield action; JPY leads and AUD lags in a continuation of APAC...

• Asia-Pac equities succumbed to the downbeat handover from Wall Street after the FOMC minutes
• FOMC minutes said rate lift-off may be warranted sooner or at a faster pace than was earlier anticipated
• FOMC minutes noted that Fed balance sheet reduction could come relatively soon after rate lift-off
• Fed Fund futures see around a 70% chance of a Fed hike at the March meeting
• US equity futures drifted lower overnight (ES...

• European bourses are mixed and fairly contained while US futures faded a brief moved into positive territory amid minimal newsflow; ES -0.10%, NQ -0.4% currently lags
• DXY is downbeat but is yet to test 96.00 to the downside with G10 peers, ex-CAD given crude, buoyed and JPY outperforming after yesterday's pressure
• US lawmakers have commenced early discussions regarding another round of COVID stimulus spending, via Washington Post
• North Korea...

• Asia-Pac equities traded mostly in the red and US equity futures were subdued
• FX, fixed income, crude and precious metals were more contained overnight
• Fed's Kashkari (2023 voter) expect the Fed balance sheet to come down, but not to pre-pandemic levels
• North Korea fired a projectile which landed outside of Japan's Exclusive Economic Zone (EEZ)
• China Huarong Asset Management slumped over 50% after a nine-month trade...

• European bourses are firmer, Euro Stoxx 600 +0.8%, amid minimal fresh newsflow; ES +0.4%
• Asia-Pac stocks traded mixed; Mainland China and Hong Kong underperformed
• DXY was supported as USD/JPY took out its 2021 high and nears 116.00; though, the DXY did briefly dip on GBP upside given associated yield catch-up action
• China is requiring security checks before domestic tech firms list overseas from Feb 15th
• Sarah Bloom...

• Asia-Pac stocks eventually traded mixed; Mainland China and Hong Kong underperformed
• US and Eurozone equity majors kicked off 2022 with gains; Apple briefly hit USD 3tln market cap
• DXY was supported as USD/JPY took out its 2021 high; AUD was underpinned by firmer coal prices
• China is requiring security checks before domestic tech firms list overseas from Feb 15th
• Sarah Bloom Raskin has emerged as the leading...

• Asia-Pac equities mostly rose in tandem with the gains seen on Wall Street
• In FX, the DXY retained 96.00+ status, USD/JPY met sellers at 114.50, others were uneventful
• Data suggests protection against Omicron COVID variant starts to wane 10 weeks after booster vaccination
• Japan will not send top government officials to the Beijing Winter Olympics, but stopped short of calling it a boycott
• Newsquawk desk will close at...

• A firmer but contained start for European bourses following a similar APAC handover; US futures are positive but in a holding pattern pre-data
• In FX, the DXY has been pressured to near 96.00 at worst to the benefit of peers as Cable reclaims 1.3400 sending EUR/GBP below 0.8450
• UK PM Johnson will not make an announcement this week on whether COVID restrictions are needed post-Christmas; waiting for more hospitalization data, according to...

• Asia-Pac equities traded modestly higher amid some tailwinds from Wall Street
• US equity futures resumed trade relatively flat with an upside bias
• In FX, DXY held onto 96.000, EUR/USD narrowly outperformed, TRY saw later strength
• UK and Scottish studies suggested the risk of hospitalisation from the Omicron variant is much lower than the Delta variant
• Overnight focus was on Tencent declaring an interim dividend...

• European bourses and US futures remains contained in idle trade ahead of US data in holiday-thinned conditions; ES -0.2%
• In FX, the DXY is pressured sub-96.50 but hasn't deviated too far from the mark with peers, ex-JPY, benefitting; core debt continues to drift
• UK HSA real-world Omicron data will be mixed; variant is less severe but may still cause large hospitalization numbers, via Politico
• Oxford and AstraZeneca are working on an...

• An indecisive tone was seen across APAC markets overnight
• US equity futures traded flat with a downside bias
• In FX, DXY traded on either side of 96.500, USD/JPY briefly dipped under 114.00 and AUD/JPY drifted lower
• Oxford and AstraZeneca are working on an Omicron-targeted version of their vaccine
• UK PM Johnson does not think there is enough evidence to justify any tougher restrictions before...

• Sentiment remains positive after a constructive APAC handover, though crude has been choppy and EGBs have seemingly decoupled from brief/broader risk jitters
• European bourses are firmer though gains have trimmed since the cash open while US futures remain bid; ES +0.6%, RTY, +0.1%, lags somewhat
• In FX, the USD has come under pressure taking the index sub-96.50 with peers somewhat mixed as the antipodeans/GBP lead
• The first US death...

• Asia-Pac stocks traded with mild gains following the downbeat lead from Wall Street
• US equity futures edged higher overnight, with the NQ the outperformer and the RTY posting the shallowest gains
• In FX, DXY drifted under 96.500, NZD narrowly outperformed and USD/TRY slumped under 14.0000
• The first US death attributed to the Omicron variant reported in Harris County, Texas
• Turkish President Erdogan said Turkey is...