The markets were mixed in the region, with the USD weaker as the US/Russia investigation related to President Trump’s election continues to widen and Jared Kushner will face a closed door hearing with the US Senate Intelligence Committee today. This combined with the lack of progress on the healthcare bill and tax reform puts US growth into question. The IMF confirmed doubts with its updated GDP forecasts. US was cut for both 2017 and 2018. Canada was raised and given the strongest outlook for 2017. UK was also cut, while France, Germany and Italy were raised. China increased cash injections through its daily reverse repurchase operations by injecting CNY350B in 7-day and 14-day (the most funds in five weeks), this followed money rates rising last week. According to regional analysts CNY540B of reverse repos are coming due this week and such liquidity is likely to remain tight. Bank of Japan (BOJ) cut its 5-10 year JGB purchases to ¥470B from ¥500B. Markets reacted little as the markets have been expecting a reduction in purchases, though considered a bit earlier than expected.
Macro :
- China’s Steel Body Wants Beijing to Be Tougher With Trump: SCMP
- Ireland to Hire Custodian to Manage Cash From Apple Tax Case
- Schaeuble Says Portugal Has Made Impressive Progress: Expresso
- VIX Options Volume Spikes on 3-Way Trade
- U.K. Urges Saudi-Led Bloc to Lift Qatar Blockade After Pledges
- Qatar, U.S. Said to Sign Deal to Combat Terror Financing: Rtrs
Keep an eye on :
- ABE SM : ACS Is Said to Hold Talks With Investors for Abertis Counterbid
- ABI BB : AB InBev Plans $250 Million Nigeria Expansion: City Press
- ACS SM : ACS Is Said to Hold Talks With Investors for Abertis Counterbid
- AZA IM : Four Possible Buyers Seek to Keep Alitalia Together: Messaggero
- AN FP : Icade in Talks to Buy ANF Immobilier for EU22.15 A Share
- ASSAB SS : Assa Abloy CEO May Be Potential Ericsson CEO Candidate: DI
- AV/ LN :
- BALTA BB : Balta Group New Hold at Deutsche Bank, PT EU11.50
- BAYN GY : Bayer Mesothelioma Treatment Misses Main Goal in Phase 2 Study
- BG/ LN : Bunge Takeout Price Likely in $91-$98/Share Range, UFP Says
- WIN GY : Diebold Nixdorf Dragged Down by Peer’s Disappointing 3Q Forecast
- DB1 GY : Deutsche Boerse Must Pay Kengeter Case Fine by End of Aug.:FAS
- FCA IM : Fiat Chrysler Offers Wage Rise to Serb Workers After Strike: RTS
- GTO NA : Gemalto First Half Operating Profit EU93 Mln
- GIVN VX : Givaudan CEO Expects to Stick With Dividend Policy: FuW
- ICAD FP : Icade Lifts Targets for 2017; in Talks to Buy ANF Immobilier
- IIA AV : Immofinanz Takes Negative EU10 Mln Hit From Gerling Sale
- IMG LN : Canyon Bridge Is Said to Be in Talks for Imagination: Telegraph
- ITX SM : Inditex Founder’s Property Co. Posts 2016 Profit Drop: Expansion
- CHOO LN : Jimmy Choo receives bids from Inter Parfums, Hony Capital and CVC
- MKTX US : MarketAxess Picks Amsterdam as EU Base Post-Brexit, CEO Tells FT
- NESN VX : Ferrara Is Said to Eye Nestle’s Candy Business: Reuters
- ONC US : Berkshire Will Quit Oncor Deal if Approval Delayed, Lawyer Says
- PAH3 GY : Porsche Works Council Head Says Feels ’Cheated’ by Audi: Bild
- RB/ LN : Reckitt Benckiser 1H Results Mixed, Buy on Weakness: MS
- RYA LN : Ryanair Cautious on Revenue Outlook, Earnings Beat: Analysts
- SAP GY : SAP Director Cautions Against Split on Industrial Internet: HB
- SEBA SS : SEB CEO Wants Higher Interest Rates to Curb Household Debt: DI
- SIE GY : Siemens Healthineers to Buy Epocal From Alere to Complete Blood
- WAF GY : Semiconductor Pricing Power Returns, Siltronic CEO Tells Welt
- GLE FP : SocGen Fined in France Over Laundering, Terror-Funding Controls
- TIT IM : Telecom Italia Says Directors to Meet Monday on CEO Termination
- TIT IM : Telecom Italia eyed by couple of private equity firms
- TFI FP : TF1 Confirms Targets; 2Q Net Jumps, Sales Miss Estimate
- TSCO LN : Tesco Supplier Bakkavor Is Said to Mull GBP1B Listing: Telegraph
- TransferWise : TransferWise Said to Be Near Raising $100M in New Capital: Sky
- TKA GY : ThyssenKrupp Could Get EU3.1 Bln Book Gain From Steel Merger: BZ
- VOW3 GY : Volkswagen’s Mueller Calls on Govt to Reject Diesel Ban: RP
- WPG LN : Worldpay Is Said to Mull Keeping Listing in London: S. Times