News Headline Summary

Risk off sentiment is observed across the asset classes, US equity futures trade near their lows of the day and DAX cash market has dropped into negative territory seeing downside pressure after a negative BMW story....

Update details:

....Spanish 10y yield rises above 5.00%, this lack of risk appetite is evident as we head into Obama's press conference regarding the debt ceiling at 1615GMT. A report from Politico at the weekend stated that House Republicans are considering dramatic steps including default or shutting down the government to force President Obama to cut spending, citing House Republican Conference Chairwoman Cathy McMorris Rodgers; this report is also weighing on sentiment heading into the Obama press conference.

Print 15:02, 14 Jan 2013 - Update - Source: RANsquawk