Morning Call Script - 12 Feb 2024

Overnight asset drivers & the impending data calendar

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What’s Moved Overnight

• Patrick Mahomes leads the Kansas City Chiefs to an overtime victory over San Fran 49ers. That’s 3 in 5 years for the future hall of famer. 

  • Sky Sports - Kansas City Chiefs win Super Bowl LVIII: Patrick Mahomes throws game-winning TD to beat San Francisco 49ers in overtime thriller

  • NFL - Chiefs TE Travis Kelce follows Taylor Swift's Grammy with Super Bowl win: 'On top of the world right now'

  • ESPN - Super Bowl overtime delivers big swing for betting public

• As expected, given the extended holidays in the APAC region, assets have had a slow start to the week (EUR 1.0790, JPY 149.20, AUD 0.6520, XAU 2025, Crude 76.50). With the US also nursing an overtime Super Bowl hangover as well of course tomorrow's CPI print... it should be a quiet session ahead of the next key Fed data point.  

• ECB Panetta's said the time for cuts is fast approaching whilst de Cos indicated the ECB's March staff forecasts projections will be key

  • Bloomberg - ECB’s March Projections Key for Rate Path, De Cos Says

  • Econostream - ECB’s Panetta: Reversal in Monetary Policy Stance Approaching Fast

• Trump / Russia and those NATO members that don't spend.. world leaders can expect more of this as Trump has an 11 pt lead in the polls over Biden. 

  • FT - Why Trump’s Nato rhetoric is already making Europe less safe

  • FT - Trump says Russia can do what it wants to Nato allies who pay too little

  • Politico - ‘Utterly crazy’: Trump’s NATO comments rattle Europe

  • Fortune - Trump says he'd encourage Russia to do 'whatever the hell they want' to delinquent NATO countries

For greater details on the overnight news stories, current macro themes, and a comprehensive look at the week ahead, look out for today’s edition of The Morning Hark. Landing in the inbox of PRO subscribers around 7.15GMT (2.15 EST).

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Have a great day, and keep smiling!

Podcast for the Commute

• Zollner explains her market moving call - ANZ Research changes RBNZ call

The Day Ahead

• USD (16:00): NY Fed Survey of Consumer Expectations

• ECB Speak: de Cos (09:45), Lane (09:45), Cipollone (15:50) and Buch (16:00)

• Fed's Bowman (14:20) and Kashkari (18:00)

• BoE Bailey (18:00)

• RBA's Kohler (21:55)

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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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.