Morning Update – 29/06/2017 – by Arjun Lakhanpal

Morning all.. Wall St recovered all the losses of the session yesterday with the S&P up 0.88% and NASDAQ up 1.43% even as US yields rallied and the US curve steepened. Asia saw similar gains with the Nikkei up 0.4% and HK up 0.86%, as investors bet the global economy can withstand tighter financial conditions as growth picks up. The euro rose to the highest level in a year while oil continued to climb. Japan May Retail Sls: +2.0% y/y vs +2.6% cons. The EUR made a high of 1.1420 and is on session highs as Europe walks in. Banks and technology shares led gains in the MSCI Asia Pacific Index, after the S&P 500 Index rebounded from the biggest sell-off in six weeks. The dollar slid against most major currencies, with the pound building on recent gains as Bank of England chief Mark Carney said rates may need to rise soon. Global equities are poised to close out their best start to a year since 1998, up 11 percent and trading at an all-time high. After nine years of central bank stimulus, the debate intensified this week around the impact of tighter policies as officials from Europe to the U.S. dished out hawkish messages to investors. Gold rose 0.2 percent to $1,252.17 an ounce, increasing for a third day. The yield on 10-year Treasuries was flat at 2.23 percent after gaining two basis points on Wednesday and jumping seven basis points in the previous session. This morning we get a look at Spanish CPI, Swedish Retail sales, German regional and national CPI, EU Consumer confidence and UK Mortgage approvals and Consumer credit data.. good luck..