� The US made new highs. A benign CPI print and jobless claims jumping to the highest in almost 4 years supported the argument for more aggressive rate cuts � 75 for the year now baked in.
� There is an argument to be made that the jobless data was the more significant datapoint in terms of Fed thinking.
� A risk on feel with beta being bought and notably strong breadth.
� Growth > Value > Momentum.
� Materials, Consumer Discretionary and Healthcare outperforming, while Energy, Utilities and Tech lagged.
� It�s green across the board over in AsiaPac but Mainland China is the laggard.
� Chipmakers are among the biggest contributors to gains.
� Tencent +2.9% vs ADR +1.8%.
� Japan�s July industrial production was revised up to a 1.2% fall.
� The greenback remained on the backfoot � ZAR c17.36.
� Treasuries edged lower in early trade: US2y 3.54/US10y 4.03.
� JGB futures are extending losses in the afternoon session with investors struggling to digest the extra bonds sold today.
� Oil extended its move lower while gold is heading for its 4th weekly gain.
� The star in the space is plat so exp some action across the PGM miners.
� It�ll be a quieter session no major macro or earnings releases.
� We�ll be higher at the open.
� The rand is stronger this morning, at R17.36/$, after closing stronger yesterday (R17.38/$*).
Key events and data:
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� 16h00: US University of Michigan sentiment index, 1 yr and 5-10 yr inflation expectations (September)
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