Overnight news

Good morning

- US equities higher yesterday, Asian markets follow suit

- US appear to have agreed an infrastructure spending deal

- Deal agreed with Senators is $579bio, quite a bit lower thasn original plan

- EU leaders do not agree on summit with Russia

- ECBs Schanbel says must not monetary end support too early

- UKs Frost says should not expect EU equivalence in all areas of finance

- GBP struggled after BoE rate announcement

- Haldane did vote to reduce asset purchases as expected

- GBP lower perhaps as Haldane was sole dissenter

- Haldane now leaves BoE leaving more dovish

- BoE forecasts were raised, Q2 2022 GDP raised to 5.5% from 4.25% in May

- BoE still expect impact of commodity price rises on inflation to be transitory

- Nikkei up 0.66% to 29,066

- Shanghai Comp up 1.12% to 3,606

- USDCNY fixes 6.4744 from 6.4824

- 13.00 BoE quarterly bulletin

- 13.30 US PCE, personal income, spending

- 15.00 US Michigan sentiment survey

- 15.00 Feds Kashkari speaks

- 16.35 Feds Mester speaks

- 18.00 Feds Rosengren speaks

- 20.00 Feds Williams speaks

- 20.30 CFTC position data