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EU MORNING BULLETS : 27TH-JUNE-2018 June 27, 2018 at 07:35AM

EU MORNING BULLETS : 27TH-JUNE-2018

 

* US Stocks slight gains as energy shares rebounded from steep losses in the previous session, but mixed messages from the Trump regarding trade kept a lid on gains.

* Asian stocks trade lower with Nikkei -0.4% and Hang seng -1.1% and ASX unch.

* US Treasuries in a tight range overnight

* S&P affirmed the US rating at AA+/ stable, sees 3% GDP growth in 2018, 2.5% in 2019.

* Oil Extends Rally with WTI crude surging past $70 a barrel on Iran sanction concerns.

* US Pres Trump endorsed Treasury Sec Mnuchin’s measured approach to restrict Chinese investments in U.S. technology companies.

* Fed Kaplan (non-voting dove) says flat yield curve is consistent with sluggish medium-to long-term growth and said he believes the U.S monetary policy is still accommodative and
suggested the Fed could raise rates at least two more times.

* Fed Bostic (voting hawk) said intensifying trade tensions could shift the risks to the downside for the economy and may rule out a fourth rate increase for the year if the trade
war gets worse.

* UK Nationwide house prices +0.5% mm +2%yy better than expected.

* French cons conf at 7.45am, Spanish housing data at 8am, Italian mfg and consumer conf at 9am and the UK CBI retail report at 11am.

* BoE Carney talks at 9.30am.

* US MBA mortgage applications at 12.00 then wholesale inventories at 1.30pm along with Durable goods. Then at 3pm sees pending home sales.

* Fed Rosengren talks at 5.15pm.

 

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