Money Monday

Market Data

Local

Global

*Data as of 6pm WAT

Market News

Local

Global

Weekly Investment Watchlist

Market Commentary

Asia and Australia

• Asian equities closed mostly lower Monday. Mainland China markets down the most as they mark-to-market from last week's falls in Hong Kong, reaching five-month lows.

• Japan: Vice finance minister Kanda told reporters Monday that yen depreciation vs dollar is "rapid and one-sided" while warning that "no options are ruled out" when asked about the possibility of FX intervention. The JPY gained some strength on that news.

• PBOC looks to support onshore yuan after last week's offshore weakening, setting the reference rate higher.

• GIC, HSBC, Blackstone bosses met China's sovereign fund as markets lose allure

Europe, Middle East, Africa

• European equity indexes lower Monday. STOXX 600 posted longest daily losing streak since mid-March last week

• Germany's Ifo institute said its Business Climate index fell to 88.4 in June vs consensus 90.7 and prior revised 91.5 from 91.7. Weaker-than-expected Chinese reopening, looming US recession and ongoing monetary policy tightening seen to be weighing on German sentiment.

• Greece's conservatives win election majority to secure second term

• German Bundesbank may need recapitalisation to cover bond-buying losses

• Russia instability brings geopolitical uncertainty back into focus

The Americas

• Market getting Fed's message as swaps traders have pushed out the expected cuts until next year.

• IBM nearing a deal to buy software company Apptio for ~$5B as part of push deeper into automation technology

• Goldman Sachs not likely to push CEO David Solomon out anytime soon; Goldman Sachs cutting ~125 managing directors globally amid deals slowdown

• Junk-rated companies still borrowing, but offering more protections for lenders via collateral, shorter maturities

The Week Ahead:

U.S Economic Events

• Tuesday

  • 9:00 am S&P Case-Shiller home price index (20 cities)

  • 10:00 am New home sales

  • 10:00 am Consumer confidence

• Wednesday

  • 8:30 am Advanced U.S. trade balance in goods

  • 9:30 am Fed Chair Powell speaks

• Thursday

  • 2:30 am Fed chair Powell speaks

  • 8:30 am Initial jobless claims

  • 10:00 am Pending home sales

• Friday

  • 8:30 am PCE index

  • 8:30 am Core PCE index

  • 8:30 am PCE (year-over-year)

  • 8:30 am Core PCE (year-over-year)

  • 9:45 am Chicago Business Barometer

  • 10:00 am Consumer sentiment (final)

Investment Tip of The Day

Meme of the Day

Disclaimer: The information contained in this report is intended for informational purposes only and should not be considered as investment advice. The information is obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed.