Morning Call Script - 11 Apr 2024

Overnight asset drivers & the impending data calendar

You can manage your preferences here if you would like to receive only certain newsletters.

What’s Moved Overnight

• 3bps tail on the US 10 year auction, the 3^rd biggest on record

  • The Boock Report - 10 yr auction was bad

  • ZeroHedge - Yields Soar After Catastrophic 10Y Auction Shocks With 3rd Biggest Tail On Record

• Softer inflation in China with YoY rate printing 0.1% and below the previous 0.7% as well as the expected 0.4%. MoM was down 1% vs exp -0.5% and prior +1%. 

  • Bloomberg - China Consumer Price Gains Fade With Industry Stuck in Deflation

• Biden warns of an imminent attack on Israel from Iran proxies, oil 1% higher

  • WSJ - U.S. Warns of Imminent Attack on Israeli Assets by Iran or Proxies

• BoJ vs US fixed income = 152.95... Kanda says recent Yen moves are rapid, Suzuki won't rule out steps to respond to excessive moves

• TSMC beat on earnings 

  • Nikkei Asia - TSMC's Q1 revenue rise beats market expectations on AI boom

  • FT - Taiwan’s chip industry heads overseas amid supply chain shift

• Market's overnight sees the USD consolidate its post CPI gains - Nikkei 39445, CSI 3515, Crude $86.40, Brent $90.60, Gold $2340, XBT 70.5k, EUR 1.0745, JPY 152.95, GBP 1.2545, AUD 0.6520, CNH 7.2530, 10s at 4.53%

Stream your favourite financial content into your own custom research inbox, including bank publications, independent research, podcasts, financial press and more. - "It's like Tweetdeck for financial research".

HarksterPRO includes complimentary access to our full-featured research inbox, which the team uses daily. Try the basic version out for FREE here.

ㅤㅤㅤ

Have a great day, and keep smiling!

Podcast for the Commute

• WSJ - What Arizona's Abortion Ban Means for the 2024 Election

The Day Ahead

• NOK (07:00): Mainland GDP

• EUR (13:15): ECB

• USD (13:30): PPI

• USD (13:30): Initial Claims

• EUR (13:45): ECB Press Conf

• Fed's Williams (13:45), Collins (17:00) and Bostic (18:30)

• USD (18:00): 30year auction

Stay informed throughout the day with our new commentary channel (‘Intraday Market Colour’) highlighting key notes, topics du jour, and HarksterHQ’s market updates around key data points and headlines. 

Available on the HarksterPRO Research Platform.

ㅤㅤㅤ

 

 

The information provided in this post is for general information purposes only. No information, materials, services, and other content provided in this post constitute solicitation, recommendation, endorsement or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.