Morning Call Script - 27 Feb 2024
Overnight asset drivers & the impending data calendar
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What’s Moved Overnight
Japan Core CPI remained at 2%, below the previous 2.3% but hotter than the mkt forecasty of 1.8%. This weighed on USDJPY, dipping lower to 150.50 as 2yr japanese bond yields climbed to their highest levels since 2011
5y US auction tailed by 0.8bps putting pressure on US fixed income into the NY close but this has not extended into the Asia session (10s settling back at 4.28%).
Elsewhere, little headline news from APAC to spur much movement... EUR 1.0850, AUD 0.6545, CSI 300 @ 3475, Nikkei 39245, Gold 2033, Crude $77.80.
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Have a great day, and keep smiling!
Podcast for the Commute
The Day Ahead
USD (13:30): Durable Goods
BoE's Ramsden (13:40)
Fed's Barr (14:05)
USD (18:00): 7yr US Auction
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