Newsqawks US Market Open: Sentiment across markets sullied with the ES Dec'22 dipping under 3,600; DXY tested 113.50 to the upside
Summary -
European bourses are once again underwater; US futures are also on the backfoot with the ES Dec'22 contract dipping below 3600
DXY is firmer on the day with a current intraday high of 113.50, G10s are mixed vs the USD with the CAD and AUD the laggards
Schatz and Bund futures both retreated to new intraday lows, 10yr UK debt future also recoiled to a deeper Liffe low, and US Treasuries are narrowly mixed
BoE said it intends to purchase index-linked Gilts effective from Oct 11-14, and announced a temporary pause to corporate bond sales
Taiwan said that two US Congressional delegations are to visit this week, according to a statement
Looking ahead, highlights include US IBD/TIPP, speeches from ECB's Lane, Fed's Harker & Mester, BoE's Bailey & Cunliffe, SNB's Jordan, RBA's Ellis, Astana Summit, auction from the US
- GS "Midterms outcome will rank low on list of macro drivers of equity market returns"
- German government still expects recession in 2023, sees GDP at -0.4% - govt sources
- PBoC: will further enhance depth and breadth of the currency market
- US NFIB Business Optimism Idx (Sep): 92.1 (Prev. 91.8)
- China CDS hit highest in more than five years - S&P Global Market Intelligence
- BoE should extend bond buying to Oct 31 or "possibly beyond"- Pensions trade body
- Germany expects inflation at 7% in 2023: handelsblatt
- Italian Industrial Production MoM: 2.3% (Forecast -0.1%, Previous 0.4%)
- Scholz: if Germany continues to adapt, we will make it through winter
- Bank of England wades into UK's inflation-linked bond market
- The @Newsquawk European Market Open Preview - incl Podcast
- China's auto sales in September rose 25.7% from a year earlier to 2.61 million units.
- UK Unemployment Rate: 3.5% (Forecast 3.6%, Previous 3.6%)
