21 Oct 2020, 11:43 by Newsquawk Desk
- European bourses are pressured this morning in-spite of limited fundamental updates, Stoxx 50 -0.9%; stateside, futures are off lows, ES +0.1%
- House Speaker Pelosi & Treasury Secretary Mnuchin are moving closer to a deal and will speak later today; however, McConnel sees a vote on a deal prior to the election as unlikely
- Netflix, -5.1%, beat on EPS but missed revenue and subscriber addition expectations for the quarter
- FX features a desolate USD moving further below the 93.00 mark in DXY terms;...
21 Oct 2020, 06:54 by Newsquawk Desk
- APAC stocks were mostly higher after a modestly firm handover from Wall Street; Mainland China underperformed
- US House Speaker Pelosi and Treasury Secretary Mnuchin are moving closer to a stimulus deal and will speak again today, according to her aide
- Senate Majority Leader McConnell reportedly told Senate on Tuesday that he has warned the White House not to make a big stimulus deal before the election
- AstraZeneca (AZN LN) COVID-19 vaccine trial in the US is expected to resume as early as this week,...
20 Oct 2020, 11:56 by Newsquawk Desk
- European bourses are mixed to flat in a relatively lacklustre session thus far while US futures remain supported, ES +0.7% ahead of the Democrats stimulus deadline
- US Chief of Staff Meadows spoke with Treasury Secretary Mnuchin on COVID-19 relief, said there has been progress but no breakthrough yet
- Moderna (MRNA) CEO said its COVID-19 vaccine could get authorisation for emergency use in December, contingent on positive interim results in November, WSJ
- EU Chief Brexit Negotiator Barnier & UK...
20 Oct 2020, 06:54 by Newsquawk Desk
- Major APAC indices traded lower across the board after Wall Street suffered another down day
- US Chief of Staff Meadows spoke with Treasury Secretary Mnuchin on COVID-19 relief, said there has been progress but no one is "popping the champagne corks yet"
- EU's Chief Brexit Negotiator Barnier has reportedly given no indication that the bloc is prepared to cede to UK PM Johnson's demands regarding concessions to get a deal, particularly on fishing
- OPEC+ panel made no recommendation on Monday to change...
19 Oct 2020, 11:48 by Newsquawk Desk
- European bourses are firmer but off highs (Stoxx 50 +0.6%) with fundamental newsflow light and focus on Pelosi’s stimulus deadline; ES +0.7%
- House Speaker Pelosi said she is optimistic on a COVID-19 relief bill before the election. Pelosi gave a 48-hour deadline to the Trump admin
- Chinese Q3 GDP missed Exp. but activity measures topped forecasts
- Chinese government officials are warning the US they may detain US nationals in China in retaliation to the Justice Department’s prosecution of...
19 Oct 2020, 06:52 by Newsquawk Desk
- APAC stocks traded mostly higher; but gains in Mainland China waned post-GDP
- House Speaker Pelosi said she is optimistic on a COVID-19 relief bill before the election. Pelosi gave a 48-hour deadline to the Trump admin
- Chinese government officials are warning the US they may detain US nationals in China in retaliation to the Justice Department’s prosecution of military-linked Chinese scholars, sources said
- UK officials are reportedly...
16 Oct 2020, 11:45 by Newsquawk Desk
- European bourses are firmer this morning, Stoxx 50 +1.0%, seemingly in a pick-up from yesterday’s performance as newsflow remains light; ES +0.1%
- WHO trial indicates Gilead's remdesivir appeared to have little or no effect on 28-day mortality or in-hospital course of COVID-19 patients
- Pfizer (PFE) could be ready to apply for emergency use authorisation for its COVID-19 vaccine by late-November, WSJ
- The EU is reportedly considering making a more explicit link between energy & fish in Brexit...
16 Oct 2020, 06:54 by Newsquawk Desk
- Asia-Pac equities traded mostly lower following on from another downbeat handover from Wall Street
- WHO trial indicates Gilead's remdesivir appeared to have little or no effect on 28-day mortality or in-hospital course of COVID-19 patients
- In FX, DXY was uneventful, holding onto the prior day’s gains, EUR/USD hovers above 1.17 and GBP/USD trades sub 1.29
- Mills in China are reportedly being told to stop buying Australian cotton. Government sources said the cotton industry could face tariffs as high as...
15 Oct 2020, 11:57 by Newsquawk Desk
- European bourses are suppressed as risk-off reigns amid rising COVID-19 cases and renewed lockdown restrictions in major European cities; Dax Dec’20 -3.0%, ES -1.1%
- US Treasury Secretary Mnuchin said the Trump administration will keep trying to get a deal on COVID-19 relief, stating that President Trump told him to keep at it to secure a deal
- Brexit language has reportedly been toughened in the latest EU summit draft document; EU leaders are set to authorise a continuation of negotiations
- FX...
15 Oct 2020, 06:54 by Newsquawk Desk
- APAC equity markets traded mostly lower; ASX 200 bucked the trend whilst Hang Seng lagged
- US sanctions have been imposed on Hong Kong Chief Executive Carrie Lam, according to a statement on the US Treasury's website
- A US battleship crossed the Taiwan Strait on Wednesday, the US Navy said; China said it will resolutely defend territorial integrity
- Treasury Secretary Mnuchin, after speaking with House Speaker Pelosi, said stimulus talks are still far apart and it is difficult to get anything done...
14 Oct 2020, 12:02 by Newsquawk Desk
- European bourses are modestly softer this morning with downside emanating as we approach US hours; ES -0.2%, below 3500
- GBP took fleeting impetus from reports the UK will not immediately walk away from Brexit talks with the PM said to decide the path on Friday
- IEA monthly oil market report left 2020 & 2021 demand forecasts broadly unchanged; a release which seemingly sparked modest crude support, albeit short-lived
- Looking ahead, highlights include ECB's Lane & Mersch, Fed's Clarida &...
14 Oct 2020, 06:54 by Newsquawk Desk
- APAC stocks traded with little in the way of conviction and within tight ranges following a downbeat Wall Street handover
- Eli Lilly's (LLY) trial of its coronavirus antibody treatment has been paused over safety concerns
- Senate Majority Leader McConnell said he will table a stimulus proposal for USD 500bln next week; House Speaker Pelosi reportedly said she has no intention to meet McConnell in the middle
- BoK and MAS left policy settings unchanged as expected
- Looking ahead, highlights...
13 Oct 2020, 11:49 by Newsquawk Desk
- European bourses are subdued in a scaling back of yesterday’s gains with similar performance in ES & Dow but Nasdaq outperforms +0.7%
- Johnson & Johnson (JNJ) COVID-19 study paused due to unexplained illness in a participant
- White House has reportedly asked Congress to approve three separate arms packages to Taiwan; sparking pushback from China
- Chinese Customs spokesman said they are paying attention to the impact of the USD/CNY fluctuations
- FX features a firmer but rangebound USD to...
13 Oct 2020, 06:54 by Newsquawk Desk
- APAC markets traded mixed; Australia outperformed, Hong Kong trade was cancelled
- Johnson & Johnson confirmed they have paused all dosing in Janssen COVID-19 vaccine candidate trials due to an unexplained illness
- Chinese Customs spokesman said they are paying attention to the impact of USD/CNY fluctuations
- White House has reportedly asked Congress to approve three separate arms packages to Taiwan
- In FX, DXY was firmer, EUR/USD dipped below 1.1800, AUD underperformed, USD/CNH rose above...
12 Oct 2020, 11:39 by Newsquawk Desk
- European bourses/US futures have been choppy but ultimately exhibit modest gains this morning; ES +0.3%
- US House Speaker Pelosi said we remain at an impasse in COVID-19 aid talks; Mnuchin and Meadows have called for immediate use of remaining PPP funds
- President Trump states he no longer has COVID-19 and has requested his campaign places him on the road every day from now while the 15th Oct debate has been cancelled
- EU leaders are to insist on tough enforcement for any UK trade deal; UK PM Johnson...
12 Oct 2020, 09:00 by Newsquawk Desk
- MON: --
- TUE: Bank of Indonesia Monetary Policy Decision; UK Labour Market Report (Aug); German ZEW Survey (Oct); US CPI (Sep); OPEC Monthly Oil Market Report
- WED: BoK Monetary Policy Decision; Singapore MAS, IEA Oil Market Report
- THU: UK's de-facto deadline for UK-EU deal; European Council Summit (Day 1); US Second Presidential Debate; Australian Labour Force Report (Sep); Chinese Inflation (Sep); OPEC+ JTC...
12 Oct 2020, 06:54 by Newsquawk Desk
- APAC equity markets kicked the week off mixed; Chinese markets outperformed, Nikkei lagged
- PBoC lowered its RRR on FX forwards for financial institutions to 0% from 20% starting today
- US House Speaker Pelosi said we remain at an impasse in COVID-19 aid talks; Trump admin has called on Congress to pass a stripped-down version of the relief bill
- EU leaders are said to be drawing up a “hit list” of up to 20 large-cap tech companies; EU has asked US to withdraw punitive tariffs or prepare for additional...
09 Oct 2020, 11:43 by Newsquawk Desk
- US futures are firmer given overnight stimulus comments and deriving further strength as US participants approach
- Speaker Pelosi & Treasury Secretary Mnuchin spoke again while Trump is reportedly open to more than a skinny bill
- President was concerned by the market reaction to him walking away from stimulus discussions
- UK Chancellor Sunak to announce a new job-support scheme; separately, EU diplomats believe Brexit talks are yet to make enough progress
- FX features a downbeat DXY at fresh...
09 Oct 2020, 06:54 by Newsquawk Desk
- Asian equity markets traded mixed but with a mildly positive bias as US equity futures extended on the prior day’s gains
- President Trump noted optimism that stimulus talks are beginning to work and was said to be open to something larger than a skinny bill
- President Trump was said to be worried about the stock market reaction from the decision to walk away from stimulus
- In FX, the DXY was lacklustre below 93.50, EUR/USD trades firmer and GBP/USD sits above 1.2950
- RBI maintained the...
08 Oct 2020, 11:47 by Newsquawk Desk
- European bourses & US futures are firmer in choppy trade amidst limited new fundamental catalysts
- US Vice Presidential debate saw Harris & Pence exchange blows in an attempt to discredit the records of both Presidential candidates; CNN poll shows Harris winning the debate
- FX is relatively rangebound with a choppy DXY meandering the U/C mark at present as antipodeans outperform
- In terms of fixed income, USTs are exhibiting mild flattening in contrast to the steepening action seen throughout...
08 Oct 2020, 06:54 by Newsquawk Desk
- Asian equity markets traded mostly positive as the region took its cue from the rebound in the US
- FOMC minutes provided little in the way of fresh information with no greater clarity on how far the Fed would permit inflation to overshoot its target
- In FX markets, the DXY is modestly softer, but above 93.50, EUR/USD is little changed and GBP/USD extended gains above 1.2900
- The US Vice Presidential debate saw Harris and Pence exchange blows in...
07 Oct 2020, 11:48 by Newsquawk Desk
- European bourses are modestly softer while US futures recuperate after Trump’s stimulus update yesterday
- Trump says he is ready to immediately sign a standalone stimulus check bill
- US House Democrats stated that Facebook (FB), Amazon (AMZN), Alphabet (GOOG), Apple (AAPL) enjoy ‘monopoly power’ and recommended big changes
- FX features a downbeat DXY to the modest benefit of peers (ex-safe havens)
- Treasuries have reverted back to the week’s steepening narrative ahead of 10-year issuance and...
07 Oct 2020, 06:54 by Newsquawk Desk
- Asian equities traded mixed as the region partially shrugged off the negative mood which initially rolled over from Wall St
- US stocks slumped after US President Trump announced that he is to walk away from COVID relief talks until after the election
- US President Trump instructed Senate Majority Leader McConnell not to delay and focus full-time on approving Amy Coney Barrett to the Supreme Court
- In FX markets, the DXY remained elevated...
06 Oct 2020, 11:45 by Newsquawk Desk
- European bourses & US futures are modestly softer in a rangebound session featuring little fundamental updates
- US President Trump has returned to the White House stating he feels great and vaccines are coming momentarily; reportedly planning to partake in the next debate
- Biontech (BNTX) and Pfizer (PFE) have initiated a rolling submission to the EMA for their COVID-19 vaccine candidate
- FX features a contained USD with peers little changed aside from a softer AUD while the US yield curve is a...
06 Oct 2020, 06:54 by Newsquawk Desk
- Asian equity markets traded positively following the firm handover from global peers as markets track stimulus developments and US President Trump’s health
- US President Trump has left the Walter Reed Medical Centre and returned to the White House
- US President Trump is planning to participate in the next Presidential Debate scheduled for October 15th, according to CNN
- White House Chief of Staff Meadows noted there is potential for a stimulus...