Morning Call Script - 20 June 2024
Overnight asset drivers & the impending data calendar
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What’s Moved Overnight
The US holiday rolled into the APAC time zone, with interest at subpar levels and the mkt remaining in a low vol positive mood.
Nikkei 38600, CSI 3510, Crude $80.50, Brent $85.10, Gold $2340, XBT 65.3k, ETH 3580, EUR 1.0750, GBP 1.2710, AUD 0.6670, JPY 158.15, CNH 7.2850, US2s at 4.75% and US10s at 4.25%.
China left the 1y and 5y Loan Prime Rates unchanged at 3.45% and 3.95% respectfully
Elsewhere, 3 DM CB meetings today... SNB (might ease), Norges (nowhere near ready to ease) and BoE (unchanged).
Finally, France will sell €10.5bln of bonds (10:00), it's first auction since Macron announced the snap election.
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Have a great day, and keep smiling!
Podcast for the Commute
The Market Huddle - Bullish on a soft Landing
The Day Ahead
EUR (07:00): German PPI
CHF (08:30): SNB
NOK (09:00): Norges
EUR (10:00): French Auction
GBP (12:00): BoE
USD (13:30): Housing Starts and Initial Claims
USD (18:00): 5yr TIPS Auction
USD (21:00): Fed's Barkin
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