July 22, 2022 11:58 GMT
Focus on PMIs this morning - Tsys surged after France and Germany mfg PMIs both missed expectations overnight, contractionary sub-50 reads at 49.6 and 49.2 respectively (UK mfg PMI bucked trend, coming out at 52.2 vs. 52.0 est).
- Tsy futures extending highs last few minutes ahead US PMI data at 0830ET:
- S&P Global US Mfg PMI (52.7, 52.0)
- S&P Global US Services PMI (52.7, 52.7)
- S&P Global US Composite PMI (52.3, 52.4)
- Equities: Trading mildly weaker at the moment, ESU2 -7.5 at 3993.75. Earnings wrap-up this morning:
- American Express (AXP) beat $2.57 vs. $2.389 est while Verizon (VZ) missed $1.31 vs. $1.327 est. Waiting for Twitter (TWTR) to wrap up this morning's releases, $0.137 est.
- Cross asset: Spot Gold gains +10.19 at 1729.0, Crude weaker (WTI -1.49 at 94.86.
- Geopol: Russian Defense Minister Sergei Shoigu, as well as the Ukrainian Infrastructure Minister Oleksandr Kubrakov, have arrived in Istanbul, Turkey to sign a deal on facilitating grain exports from Ukrainian ports to ease global food supply shortages.