Morning Juice – US Session Prep

Morning, Traders!
It is Tuesday the 8th of April, here are some things to look out for today.

Sentiment
Global equities recovered, and some early indications of calm returned to Wall Street after the largest three-day drop since 2020, with investors focussing on the possibility of US trade talks.

US equities futures advanced, with Nvidia leading the Magnificent Seven tech mega-caps higher in premarket trade.
Apple gained after the iPhone maker’s shares fell 19% in the previous three trading days, its worst three-day drop since July 2001.
Treasuries and the Dollar remained stable.

Trump made a series of comments yesterday about his anticipated tariffs, but he provided little clarification about what he wants in exchange for lower taxes – or whether he is willing to grant relief at all.
He rejected a proposal from the EU to eliminate tariffs on all bilateral trade in industrial goods with the US and threatened China with an additional 50% import tax.

Treasuries recovered from yesterday’s severe losses, with longer-dated rates rising to their highest level since March 2020.
Investors will watch bond offerings on Tuesday to see if there is a crack in demand, with the US expected to issue three- and 10-year notes, as well as 30-year bonds.
Oil prices remained stable after a three-day drop. Gold climbed higher.

Docket
13:00 ET
US sells $58 bln 3-Year Notes

Speakers
09:00 ET
ECB’s Holzmann speaks at Austrian Central Bank press conference following Article 4 review by International Monetary Fund.

09:30 ET
ECB’s Cipollone gives introductory statement at hearing on the digital euro before the Committee on Economic and Monetary Affairs (ECON) of the European Parliament in Brussels, Belgium.
The text will be made available on the ECB’s website.

UK’s PM Starmer speaks before the Liaison Committee

09:50 ET
USTR’s Greer testifies on Trade Policy in Congress

12:00 ET
BoE’s Lombardelli speaks on a panel about what the UK can learn from the US’s post-pandemic productivity acceleration.

14:00 ET
Fed’s Daly speaks in a moderated discussion on the economic outlook and work of the Federal Reserve in Provo, Utah.
No text is expected, but there will be a Q&A.

15:00 ET
Trump participates in an executive order signing event
“Unleashing America’s Energy”

Good luck!