Asian equity markets are mixed, even with investment sentiment soured by extremely underwhelming 6-year-low non-farm payrolls out of the US on Friday. Recall that while ADP payrolls and weekly claims data maintained the altitude of recovery in the labor market, other indicators such as Conference Board Online job ads data have been turning from bad to worse. Numbers were also likely impacted by the ongoing Verizon strike as was forecast in recent US press. Report from Fed watcher Hilsenrath over the weekend suggested that June is now "almost surely off the table" and July is still possible though less likely. Futures markets for Fed Funds see less than 5% chance of a rate increase in June, 31% on a move in July and 48% on a move by September. USD was hit hard by the soft jobs data, particularly USD/JPY which extended its declines below 106.40 at the open before recovering to 107 handle. GBP/USD was also under severe strain with a number of Brexit polls all showing the camp in favor of Brexit picking up support ahead of June 24th referendum.
Nikkei -0.67% Hang Seng -0.26% CSI -0.44% Shanghai -0.36%
Eur$ 1.1346 CNH 6.5667 CNY 6.5647 JPY 106.98 GBP 1.4384 CHF 0.9769 RUB 65.7669 WTI $ 49.11 (+1.01%)
S&P -0.01% EuroStoxx +0.23% Dax +0.32% SMI +0.26%
Macro :
- Fed’s Mester Sees Gradual Rate Increases Despite Weak Jobs Data
- U.K. Poll on EU Shows 43% Remain, 41% Leave: Opinium Poll
- Bill Gross Says Chance of Fed Raising Rates 25%: Nikkei
- SNB Vice President Zurbruegg: SNB could cut rates further and could intervene in FX market at any time it deems necessary
- U.S., China Make Great Progress in Currency Talks, Lew Says, Lew: U.S., China Will Discuss Ways to Promote Balanced Growth
- French Deficit Will Be 2.7% of GDP in 2017, Sapin Tells Echos
Keep an eye on :
- AC FP : Accor in talks with Chinese group HNA to counter Jin Jiang -JDD
- ACKB BB : Belgium to Extend Concessions of Offshore Wind Projects: De Tijd
- ALPH SW : Alpiq Is Struggling to Find Buyers for Hydropower Plants: SZ
- BMPS IM : Profumo Says Worst Over for Italy’s Banking Crisis: La Stampa
- BP IM : ECB Urges Banco Popolare to Reduce NPL Stock: Offering Documents
- BAYN GY : Bayer Chairman Indicated Willingness to Raise Bid Somewhat: FBN
- BAYN GY : Bayer Chairman Said to Hold ‘Secret’ Meeting With Investors: Fox
- BAYN GY : Bayer May Have to Sell Units After Monsanto Deal, FAZ Says
- CSGN VX : U.K.’s FCA Probes Credit Suisse, VTB Over Mozambique: WSJ
- CDA FP : Fosun in Talks to Buy 10% of Compagnie Des Alpes: Figaro
- CNX US : Greenlight Capital’s Einhorn Confirmed Selling 7m Consol Shares
- CFEB BB : Belgium to Extend Concessions of Offshore Wind Projects: De Tijd
- DL NA : Delta Lloyd Attracts Buyers for Stake in Van Lanschot: Telegraaf
- EDF FP : EDF, RTE, CDC Choose Banks to Prepare RTE Sale, Figaro Reports
- EDF FP : CEZ submits indicative offer to buy French EDF's Polish assets
- EDF FP : EDF Energies, EREN Renewable May Exit Acme Solar Venture: ET
- ENI IM : Eni to Compete for Central Role in Libya, CEO Tells La Stampa
- FRA GY : Frankfurt Hahn Regional Airport Sold to Chinese Investor: DPA
- KER FP : In the Land of the Rising Sun, Luxury Sales are Fading: Chart
- KU2 GY : Kuka will not see bid arranged by German Economy Minister - Boersen-Zeitung
- KU2 GY : Kuka CEO Would Evaluate Potential Counterbid to Midea Plan: FAS
- LISN SW : Lindt’s Tanner Eyes Expansion Into Chocolate Bar Segment: SZ
- EMG LN : Man Group Promotes CFO Sorrell to Co-President, FT Says
- MC FP : In the Land of the Rising Sun, Luxury Sales are Fading: Chart
- MFRM US : Mattress Firm Holder Berkshire Partners Boosts Stake to 14.1%
- MRK US : Merck & Co. Starts Two Phase 3 Studies in First-Line Lung Cancer
- NESN VX : Nestle Temporarily Halted Venezuela Production Lines: SZ
- RCS IM : RCS public offer by Investindustrial consortium likely to get regulatory clearance on 10 June
- ROTH FP : Rothschild & Co., Martin Maurel to Merge, Les Echos Says
- RDSA NA : Shell Confirms Leak on Nigeria Farcados Pipeline After Attack
- SAB LN : Asahi Explores $7.3b Bid for SABMiller Beers, Sunday Times Says
- SGO FP : Saint-Gobain in acquisition talks in Spain - Expansion
- SHA GY : Schaeffler to Replace Wincor Nixdorf in MDAX
- SoftBank (9984 JP) : Softbank plans to sell 248M shares back to Gungho Online (3765 JP) at ¥294/shr - press - Softbank said to be selling most of its stake in Gungho to help raise money to shore up its balance sheet, and comes on the heels of its announced sale of $10B of its Alibaba stake.
- SAZ GY : Stada Says CEO Retzlaff to Take Leave for Medical Reasons
- UHR VX : Swatch Group Signs Battery Deal With Geely, Hayek Tells NZZamS
- SREN VX : Swiss Life’s Signer: Aim at Property Buys of ~CHF1B/Year: FuW
- TEF SM : Telefonica to Offer Mobile Banking Service, Expansion Reports
- TSLA US : Tesla May Purchase Batteries From Samsung SDI, Nikkei Says
- TKA GY : Thyssenkrupp to Restructure Wharfs as Submarine Deal Fails: Welt
- LANS NA : Delta Lloyd Attracts Buyers for Stake in Van Lanschot: Telegraaf
- VBLT US : VBL Therapeutics Rises 76% Post-Mkt; Study Met Primary Endpoint
- VIV FP : Canal+, BeIN Accord Under Threat From Regulator, Echos Says
- VOW3 GY : VW to Recall 190,000 Cars in India to Fix Emissions Issue: PTI
- VOW3 GY : VW’s Skoda Considering Return to North America: Handelsblatt
- WIN GY : Schaeffler to Replace Wincor Nixdorf in MDAX
- WPP LN : WPP Holders Set to Protest CEO Sorrell’s Pay Package: Telegraph