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Big U.S. Bank Earnings Help Equities to Base

CROSS ASSET

Large U.S. bank earnings released thus far have seemingly helped equities find a bit of a base (pre-market sees Wells Fargo +2.1%, J.P.Morgan +0.7%) as NY participants filter in. That has subsequently capped the bid in core global FI markets and the USD after worry re: escalation in the Israeli-Palestinian conflict dominated through the London morning.

  • Crude oil futures remain comfortably higher on the day, as that worry has not subsided.
  • Also note news that Kaiser Permanente and its union have reached a tentative agreement re: contracts, removing notable industrial action risk from the U.S.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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