FOMC
Italy delivers serious investor angst which has spread fast to most major markets. The brutal selloff and flight to safety brings sharply lower bond yields
30th May 18, 7:51am
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Italy delivers serious investor angst which has spread fast to most major markets. The brutal selloff and flight to safety brings sharply lower bond yields
Italian yields have skyrocketed again and the EUR weakened, as the market prepares for new elections in Italy; US 10 year Treasury futures yield down 7bps; NZD is around 0.3% higher; NZ 10 year swap rate fell 2.25bps
29th May 18, 7:47am
Italian yields have skyrocketed again and the EUR weakened, as the market prepares for new elections in Italy; US 10 year Treasury futures yield down 7bps; NZD is around 0.3% higher; NZ 10 year swap rate fell 2.25bps
Saudi Arabia said it was “likely” OPEC and Russia would boost production; decline in oil prices in turn pushed down core bond yields and energy stocks; against a backdrop of broad USD strength on Friday, the NZD has outperformed
28th May 18, 8:19am
Saudi Arabia said it was “likely” OPEC and Russia would boost production; decline in oil prices in turn pushed down core bond yields and energy stocks; against a backdrop of broad USD strength on Friday, the NZD has outperformed
JPY and CHF have been the best performers overnight; Germany 10-year bunds have reached a fresh low for the year; NZD has remained stuck in a trading range this week of less than 1-cent and currently sits at 0.6930; NZ’s yield curve flattened yesterday
25th May 18, 7:56am
JPY and CHF have been the best performers overnight; Germany 10-year bunds have reached a fresh low for the year; NZD has remained stuck in a trading range this week of less than 1-cent and currently sits at 0.6930; NZ’s yield curve flattened yesterday
Safe-haven currencies like JPY outperform, with softer global equity markets and lower global bond rates; UST10s dipped below 3%; NZD is currently around 0.6920, only down slightly from this time yesterday
24th May 18, 8:15am
Safe-haven currencies like JPY outperform, with softer global equity markets and lower global bond rates; UST10s dipped below 3%; NZD is currently around 0.6920, only down slightly from this time yesterday
NZD climbed up to a high of 0.6975 USD in early London trading but there has been a steady decline since, retreating to 0.6930; 10-year Treasury rate tightly range-bound between 3.05-3.08%; EUR was stronger after the China car tariff news
23rd May 18, 8:03am
NZD climbed up to a high of 0.6975 USD in early London trading but there has been a steady decline since, retreating to 0.6930; 10-year Treasury rate tightly range-bound between 3.05-3.08%; EUR was stronger after the China car tariff news
Despite disappointing retail sales, the NZD may not weaken further as it is bolstered by strong terms of trade. Italy toys with issuing parallel currency, worrying its EU partners
22nd May 18, 8:12am
Despite disappointing retail sales, the NZD may not weaken further as it is bolstered by strong terms of trade. Italy toys with issuing parallel currency, worrying its EU partners
Political risk on Italy weighs on the euro. Japan inflation weighs on the yen. NAFTA talks weigh on the CAD. Through all this the NZD comes through well
21st May 18, 8:04am
Political risk on Italy weighs on the euro. Japan inflation weighs on the yen. NAFTA talks weigh on the CAD. Through all this the NZD comes through well
US bond yields continue to track higher, with the 10-year rate currently trading at 3.11%; NZD is down 0.3% for the day to 0.6875; GBP has been a bit choppy
18th May 18, 8:10am
US bond yields continue to track higher, with the 10-year rate currently trading at 3.11%; NZD is down 0.3% for the day to 0.6875; GBP has been a bit choppy
NZD is having a much better day after its recent rout; NZ rates across the curve and some steepening; UST yields sustained yesterday’s upward move; EUR has been under a bit of pressure
17th May 18, 8:06am
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NZD is having a much better day after its recent rout; NZ rates across the curve and some steepening; UST yields sustained yesterday’s upward move; EUR has been under a bit of pressure
Renewed inflation signals push UST yields up strongly; further rises anticipated. Chances of an extra rate hike in 2018 increase
16th May 18, 8:16am
Renewed inflation signals push UST yields up strongly; further rises anticipated. Chances of an extra rate hike in 2018 increase
The move higher in US yields has boosted the USD across the board; GBP has been one of the outperformers in the FX market overnight; NZD is once again one of the underperformers
16th May 18, 8:13am
The move higher in US yields has boosted the USD across the board; GBP has been one of the outperformers in the FX market overnight; NZD is once again one of the underperformers
NZD has been the underperformer in FX markets overnight, now trading at 0.6920 USD; NZ swap rates continued to move lower yesterday; European bond yields rose after news that the ECB was planning on raising rates at some point in 2019
15th May 18, 8:08am
NZD has been the underperformer in FX markets overnight, now trading at 0.6920 USD; NZ swap rates continued to move lower yesterday; European bond yields rose after news that the ECB was planning on raising rates at some point in 2019
USD closed the week slightly lower against most of the G10, although the movements were very modest; NZD traded a narrow range on Friday night, ending the week just below 0.6970 USD; Budget on Thursday is the key event for the local rates
14th May 18, 8:07am
USD closed the week slightly lower against most of the G10, although the movements were very modest; NZD traded a narrow range on Friday night, ending the week just below 0.6970 USD; Budget on Thursday is the key event for the local rates
NZD is the worst performing currency the past 24 hours; local rates lower; GBP was the second worst performing currency; USD fell after a slightly lower than expected US core CPI release; UST yields declined slightly
11th May 18, 7:58am
NZD is the worst performing currency the past 24 hours; local rates lower; GBP was the second worst performing currency; USD fell after a slightly lower than expected US core CPI release; UST yields declined slightly
UST 10yr up over 3% again despite weaker US PPI. Eyes on US CPI data. Eyes also on the new RBNZ Governor and the MPS
10th May 18, 8:11am
UST 10yr up over 3% again despite weaker US PPI. Eyes on US CPI data. Eyes also on the new RBNZ Governor and the MPS
USD has extended its recent gains overnight, with the Bloomberg DXY moving up to a new high for 2018; NZD broke below 0.70 to a low of 0.6954, before bouncing back slightly to 0.6965; US 10 year Treasury is up 2bps to 2.97%
9th May 18, 7:59am
USD has extended its recent gains overnight, with the Bloomberg DXY moving up to a new high for 2018; NZD broke below 0.70 to a low of 0.6954, before bouncing back slightly to 0.6965; US 10 year Treasury is up 2bps to 2.97%
Oil prices pushed on to a new post-2014 high; USD is generally stronger, with the Bloomberg DXY and the (euro-centric) DXY both making new highs for 2018; GBP is the strongest currency in the G10
8th May 18, 8:29am
Oil prices pushed on to a new post-2014 high; USD is generally stronger, with the Bloomberg DXY and the (euro-centric) DXY both making new highs for 2018; GBP is the strongest currency in the G10
USD moved higher after payrolls, in tandem with the increase in Treasury yields off the intraday lows, Bloomberg DXY was up 0.2%; NZD hit a low of 0.6994 after payrolls, before recovering to end the week at 0.7020
7th May 18, 8:23am
USD moved higher after payrolls, in tandem with the increase in Treasury yields off the intraday lows, Bloomberg DXY was up 0.2%; NZD hit a low of 0.6994 after payrolls, before recovering to end the week at 0.7020
Mixed US payrolls data, deadlocked China talks, EMs doing it tough, but UST 10yr yields little changed at 2.95%. Eyes on commodity risks
7th May 18, 7:46am
Mixed US payrolls data, deadlocked China talks, EMs doing it tough, but UST 10yr yields little changed at 2.95%. Eyes on commodity risks
UST yields have nudged a little lower; USD is mainly softer; NZD is modestly higher across the board; NZ rates curve barely showed any movement yesterday
4th May 18, 7:56am
UST yields have nudged a little lower; USD is mainly softer; NZD is modestly higher across the board; NZ rates curve barely showed any movement yesterday
USD index (BBDXY) has lost about 0.25% since the FOMC announcement; NZD sits this morning at 0.7020, up from the overnight low of 0.6996 immediately before the FOMC; local market saw a slight steepening of the yield curve
3rd May 18, 8:03am
USD index (BBDXY) has lost about 0.25% since the FOMC announcement; NZD sits this morning at 0.7020, up from the overnight low of 0.6996 immediately before the FOMC; local market saw a slight steepening of the yield curve
NZD temporarily broke down through 0.70 although it has managed to hold just above 0.70 over the past few hours; USD indices up 0.5-0.7%; UST rates are about 1bp higher across the curve; weakest of the majors has been the GBP
2nd May 18, 8:07am
NZD temporarily broke down through 0.70 although it has managed to hold just above 0.70 over the past few hours; USD indices up 0.5-0.7%; UST rates are about 1bp higher across the curve; weakest of the majors has been the GBP
Key US inflation data overnight were in line with expectations; USD has weakened slightly since the inflation data release; AUD has underperformed alongside the NZD which sees the NZDAUD cross flat around 0.9345
1st May 18, 8:06am
Key US inflation data overnight were in line with expectations; USD has weakened slightly since the inflation data release; AUD has underperformed alongside the NZD which sees the NZDAUD cross flat around 0.9345
Korean detente ignored. US and UK growth subdued, although US inflation firms. BofJ gives up on 2% inflation target. Eyes on NZ business confidence
30th Apr 18, 8:04am
Korean detente ignored. US and UK growth subdued, although US inflation firms. BofJ gives up on 2% inflation target. Eyes on NZ business confidence