Morning Call Script - 11 Dec 2023
Overnight asset drivers & the impending data calendar
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What’s Moved Overnight
Weekend data - Deflation in China -0.5% YoY vs exp -0.1%, PPI -3% vs exp -2.8%
Stronger USD to start the week, led by USDJPY +50bps to 145.60 and USDCNH back towards 7.20.
US Fi also weaker, 2s +2bps to 4.75% and 10s wider to 4.25%
Asian stocks have had a better session - Nikkei +74bps to 32805 and CSI 300 +55bps.
Commodities - oil "stable" after last week's slide - Crude $71.60, Brent $76.60
Will Boris be back in No10 for Xmas?
[Paid Subscribers] For greater detail on the overnight news stories as well as a focus on the day ahead, see The Morning Hark in your inbox around 7.15GMT (2.15 EST) whilst also watch out for Read on the Trading Floor around 17.30GMT (12.30EST), which captures the macro themes trending on Harkster.com over the past 24hrs.
Have a great day, and keep smiling!
Podcast for the Commute
The Day Ahead
Quiet start to a big week...
USD (16:00): NY Fed 1yr inflation expectations
USD (18:00): 10yr auction
ECB Speak - McCaul (20:10)
RBA Speak - Bullock (22:20)
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.
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