Morning Call Script - 14 May 2024
Overnight asset drivers & the impending data calendar
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What’s Moved Overnight
Another quiet APAC session. Price action is like a stagnant puddle in the Old Trafford away dressing roof.
Nikkei 38200, CSI 3650, Crude $79.25, Brent $83.50, Gold $2340, XBT 62.4k, EUR 1.0785, GBP 1.2555, AUD 0.6600, JPY 156.40, CNH , 10s at 4.49%.
The Telegraph - Watch: Manchester United look at new Old Trafford roof after rain gushes into Arsenal dressing room
5year JGB auction printed at 57.2bps vs prior 40.4bps. Curve all sold off, including the 20yr hitting its highest level since 2013
Other stories in the news overnight
Looking ahead to this morning's session we've got UK labour data, German ZEW and then after lunch we'll get US PPI and Powell. Potentially some vol ahead of the key US CPI tomorrow (but let’s not be that optimistic).
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Have a great day, and keep smiling!
Podcast for the Commute
The Blind Squirrel Pod - Trending. The 🐿️ and the Turtle.
The Day Ahead
EUR (07:00): German Inflation Rate
GBP (07:00): UER, Avg Earnings incl Bonus
BoE's Pill (08:30)
EUR (10:00): ZEW Eco Sentiment Index
USD (13:30): PPI
Fed's Cook (14:10), Powell (15:00)
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