NEWS STORIES OF NOTE FROM OVER THE WEEKEND: US stocks finished negative with the DJIA finally snapping a 9-day win streak, while the Nasdaq 100 underperformed on tech weakness

ASIA-PAC

S&P cut China to A+ from AA-; outlook stable. (Newswires)

 

UK

British PM May will say in Friday's speech that she wants 2-year Brexit transition deal, according to a BBC political editor who further added that the speech is likely to have a reference to 'Paying our Dues'. (Newswires)

 

EU

EU Consumer Confidence Flash (Sep) -1.2 vs. Exp. -1.5 (Prev. -1.5). (Newswires)

 

GEOPOLITICAL

US President Trump announced new executive order to target individuals & companies that trade with North Korea, while there were also reports that EU agrees on new sanctions against North Korea. (Newswires/AFP)

 

MARKET RECAP

US stocks edged lower at the open, but managed to regain over half of their losses before dipping into the close. The S&P 500 closed down 0.30% at 2,500.61, the NASDAQ 100 closed down 0.65% at 5,934.91 and the Dow closed down 0.24% at 22,359.23.

Treasury trade was fairly lacklustre despite some early morning New York buyside flow. The Treasury curve continued to flatten, with the 5s30s spread narrowing by circa 1.5bps as CME Fed Fund futures price around a 75% chance of a Fed hike by year end. US Dec’17 10y T-note futures settled at 125.20, unchanged on the day.

21 Sep 2017 - 22:10- ForexResearch Sheet- Source: Newswires

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