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The leg higher in U.S. stocks Tues,.........>

US TSYS
US TSYS: The leg higher in U.S. stocks Tues, followed by a buoyant session for
Asia-Pacific equities (excluding China), kept a lid on Tsys in early dealing,
before China's indices legged lower, led by the Chinext, which provided some
support for Tsys in the EU crossover.
- Volume has been limited by a Hong Kong holiday.
- Speaking at a FSOC event late Tuesday Fed Chair Powell said he is worried
about the "spill-over" effect on the U.S. economy in the event of a hard Brexit.
- Late in U.S. hours the new San Francisco Fed President ('18 voter) Daly made
her 1st major public address since assuming the role. BBG covered the speech,
with Daly noting that "inflation is effectively at the Fed's 2% target," while
she believes that the "labour market is beyond a state of full employment,"
describing econ growth as "robust". Daly suggested that the recent move in the
stock market wasn't "worrisome," in her view. Daly also pointed to the need for
gradual rate hikes.
- Sep FOMC mins headline Weds, with housing starts & building permits also due.
- T-Notes last 118.04+, U.S. 10-Year yields last at 3.163%.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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