CEEMEA OPEN: Summer drought continues

• The Dollar has opened softer at the start if this week, falling to an over 7mth low of 102.081.

• The Fed's Daly has told the FT that her confidence inflation is under control is growing. This heading into the end of week Jackson Hole get together, where the market is looking for a firm sign that the FOMC will begin easing rates in September.

• Meanwhile, a mixed session on Asia-Pac equity markets. The Nikkei is off over 1%, although this still above Friday's low. KOSPI is -0.85%.

• In contrast, Hang Seng is up around 1%, Shanghai +0.4%. The ASX is flat.

• European equity futures are also mixed with EStoxx50 higher, but Dax and FTSE lower.

• Brent is under USD79.50/brl.

Fresh in the CEEMEA Pipeline

• No new deals in the pipeline.

On the Radar

• The pipeline remains empty, as it has done over the last two weeks, as we enter what is traditionally one of the slowest months of the year.

• Going forward into August, we can expect to see the odd deal, but ultimately primary prospects are set to remain limited during the summer holiday.

• It’s worth noting that, late on Friday, Fitch Ratings has affirmed the Czech Republic's long-term foreign currency debt rating at AA-, outlook stable.

Priced Deals

• No new priced deals.

What to watch on Monday

• A quiet session scheduled ahead in CEEMEA, with no macro-data scheduled for release.

• In the US, just the Leading Index (14GMT).

• Central bankers scheduled to speak today include the Fed’s Waller and the ECB’s Rehn.

Wider market Sentiment

• USD Index at 102.036
• UST 2yr/10yr at 4.037%/3.865%
• Bund 2yr/10yr at 2.426%/2.244%
• Brent at $79.42/brl

---- Subscribe to read more ----

To receive this analysis plus much more, subscribe to IGM. Request your free trial of the service today.