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$8B Debt Issuance to Price, $3B Egypt 3Pt Leads


Sharp Retracement


NY Fed Weekly Economic Index (WEI)

MNI: *** Risk appetite took a hit in late U.S. trade as a BBG sources piece
noted that U.S. President Trump is preparing to release a list of an additional
$200bn in Chinese products to be hit with tariffs, according to two people
familiar with the matter. The report went on to note that that the list could be
released as soon as Tuesday, and likely this week.
- The report hit 10 minutes before futures closed. Dow futures lost ~190 points
at one point, before closing ~50 points off of the reaction low. Mini S&P
futures lost around 17 points on the report, before closing 6 points off the
reaction low.
- The JPY garnered a safe haven bid, USD/JPY shed around 40 pips before
recovering to around Y111.00. AUD & NZD took a hit, with USD/CNH adding around
200 pips at the latest count.
- Focus is now on the re-open of U.S. futures at the top of the hour.
MNI London Bureau | +44 0203-865-3809 |