Texas markets

Stock markets rise amid a quiet session

General trend

– Australian bond yields continue to fall as concerns over growth and RBA expectations take center stage.

– RBA Gov Lowe to speak later today [11:30 AM GMT].

– NY Copper FUTs Rise After Recent Losses; Metals traded in Shanghai remain under pressure.

– China’s legislature approved revised antitrust bill, changes to come into effect Aug. 1 – Xinhua.

– SoftBank Group held a shareholders’ meeting.

– US equity FUTs rebounded.

– BOJ’s Amamiya will speak later today.

Securities/Economic data

Australia/New Zealand

– ASX 200 open flat.

– (AU) Australian Prime Minister Albanese calls on China to lift trade sanctions; China reportedly trade sanctions linked to A$20bn of Australian exports – Australian Press.

– (AU) AEMO: Official end of the suspension of the national energy market at 00:30 ET.

Japan

The Nikkei 225 opened +0.2%.

– (JP) Japan May National CPI Y/Y: 2.5% V 2.5%E; IPC Ex-fresh food (CORE) Y/Y: 2.1% V 2.1%E.

Software bank [9984.JP] Exec Son: Over the long term, the stock price increases; The Vision fund has 475 companies in its portfolio at the start of May; Maybe 1 or 2 portfolio companies could overtake Alibaba.

– (JP) Japan May PPI Services Y/Y: 1.8% vs. 1.7%e.

– (JP) Expects ruling parties in Japan to maintain a majority in upcoming elections [Sun, Jul 10th] – Hurry.

– (JP) The Bank of Japan (BOJ) offers to buy 5 to 10 year JGBs at a fixed rate of 25 basis points; Opens a window to buy unlimited 10-year JGBs at 0.25% [as expected].

– (JP) Japan Dep Chief Cabinet Sec Kihara: Needs to be cautious due to economic risk of higher prices.

– JP) Said that the Japanese government has revised a document to show that support for hybrid vehicles is “on par” with support for electric vehicles – Press.

Korea

Kospi opened +0.6%.

– (KR) South Korea Vice Fin Min: expects trade deficit to widen in June compared to May; exports slowed in June due to temporary factors; the tax on petroleum products will be lowered from 1 July.

China/Hong Kong

Hang Seng opened +0.8%; Shanghai Composite opened +0.1%.

– (CN) The Chinese PBOC sets the reference rate for the yuan: 6.7000 against 6.7079 previously.

– (CN) China PBOC Open Market Operation (OMO): sells CNY 60 billion in 7-day reverse repos against CNY 10 billion previously; Net injection CNY50B v Net CNY0B before.

North America

– (United States) Texas Power Grid Operator: electricity consumption reached a record level; supply is sufficient to meet demand.

– (United States) Secretary of State Blinken will meet with German Vice Chancellor Habeck and French Foreign Minister Colonna on Friday, June 24.

– (MX) Central Bank of Mexico (Banxico) Gov Rodriguez: Recession is not in the Central Bank’s main scenario.

Europe

– (UK) Jun GfK Consumer Confidence: -41v -40th (lowest since 1974 when records started).

Levels starting at 1:20 a.m. ET

– Nikkei 225, +1.3%, ASX 200 +0.5%, Hang Seng +1.7%; Shanghai Composite +0.6%; Kospi +2.1%.

– S&P500 equity futures: +0.7%; Nasdaq100 +0.9%, Dax +0.8%; FTSE100 +0.7%.

– €1.0543-1.0512; JPY135.22-134.55; AU$0.6916-0.6885; 0.6304-0.6270NZD.

– Gold -0.2% at $1,826/oz; Crude Oil +0.5% to $104.78/bl; Copper +1.3% to $3.7885/lb.