Observations + Charts
• Europe and US futures in green after softer-than-expected German inflation.
Asia stocks trading mixed Monday. Mainland and HSTECH shares outperforming.
Shenzhen and HSTECH have posted gains of 4.5%+ over past five days while the rest of Asia has treaded water.
Key data due this evening/early tomorrow include China PMIs and BoJ policy rate.
Asian energy names tracking oil lower overnight.
RTRS reported more than 20 Chinese companies announced share buyback plans over the weekend.
• European benchmarks in green helped by lower inflation readings in the German state NRW and Spain.
• North Rhine-Westphalia posted first negative monthly inflation print since May ’23 and lowest annual pace since June ’21.
• German Long-dated bond yields -5bps after inflation data.
• In early trading all sectors are in green with Media and Tech at the top.
• DXY is -10bp. Brent is FLAT. US nat gas is -370bp. Bitcoin -10bp while gold +33bp & Silver +180bp.
• US futures are green w/ESZ3 +28.50, HIWU3 +171.00, and NQU3 +122.50.