Europe & US futures not doing much so far.. trading flat-to-small up so far.
Asia traded mixed with Japan leading the way again while investors digesting the latest batch of eco report from China.
Greater China still weighted by several headwinds.. last manuf PMI in focus (mixed readings), and property space still under scrutiny.
Fitch downgraded this AM the China 2023 GDP to 4.8% from 5.6%.
Japan still the safest trade over the region.. NKY up 8/9 last sessions back testing the 50dma. Same move for Topix testing early Aug highs.
Europe a bit firmer this AM helped by better than feared CPI print and comments seen as dovish from Schnabel earlier.
EU 10yr yields are ticking -3/5bp as the EZ CPI for Aug didn’t run as hot as feared (core was inline w/cons) while some German growth figures fell short.
EU cyclicals up for the 4th session in a row while Quality baskets lagging by 80bps.
All EU sectors in green with Real Estate (German names leading) & Financials (boosted by UBS) are leading while F&B lagging a bit.
DXY is rallying 34bp, as the USD rallies 45bp vs. the EUR (after EZ CPI and soft German growth numbers). Brent +15bp while copper -65bp. Bitcoin flat (at $27.2K) while gold holds steady too.
US futures mixed so far w/ESU3 +2.00, HIWU3 +101.00, RTYU3 +0.10 and NQU3 -28.25.