Jason Wong

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Articles by Jason Wong

26 May 17, 8:17am
NZGB bond markets will get new issuance to maintain a sustainable market, not because the Government needs the funding. NZGB 10yr yield near its 2017 low
26 May 17, 8:12am
Commodity currencies lower as oil drops almost 5% on smaller than expected production cuts; NZ budget has little impact on markets; USD recovers some ground, lost due to slightly dovish FOMC minutes released yesterday
23 May 17, 8:01am
NZD trended 1% higher overnight, meeting some resistance just under the 0.70 USD mark; USD remains out of favour; NZ 2 yr swap at 2.25%, 10 yr at 3.26%, steepening bias expected
22 May 17, 8:44am
UST and local rates traded in a tight range with little movement in the yield curve; USD was under pressure on Friday, USD majors index down 0.7%; NZD up to 0.6925 on USD weakness
19 May 17, 8:20am
Pricing for Fed hikes nudge up. Long end declines flatten yield curves. NZ 10yr at fresh low for year. US politics garner more attention than deserved
19 May 17, 7:57am
USD recovered after being supported by strong data; NZDUSD below the 0.6900 level as USD strengthened and NZDAUD is also lower, now trading at the 0.9300 mark; Brazilian real down 6% on the President's corruption allegations
18 May 17, 8:15am
NZD up 0.8% against the USD as the risk off mood sees the USD index 0.6% lower; UST yields down 6 bps and 11 bps for the 2 yr and 10 yr rates respectively; local yields were down across the curve yesterday and further downward pressure is expected today
15 May 17, 8:11am
Under-shooting US data weighs on greenback even as markets still expect Fed rate hike. RBNZ's 'purposeful easing' still being absorbed by traders
12 May 17, 8:16am
While markets don't buy RBNZ projections, they do accept that rate changes won't happen til inflation well over 2%. NZD's fall only takes it back to last week's level
11 May 17, 8:05am
NOK, NZD, CAD and AUD are all up between 0.3-0.7% of the USD as oil prices rebound 3.5%; Trump's surprise sacking of FBI director Comey has little impact on the market; EUR loses afterglow from French election result
11 May 17, 8:03am
Markets likely to discount the expected RBNZ dovish views, as global markets settle into a period with few surprises
10 May 17, 8:01am
USD continues to rise as Fed speakers state that economic outlook unchanged despite recent data; AUDUSD probed fresh lows since January, down 0.7%, and has found support at 0.7340; NZD now below 0.6900 USD and just under 0.9400 AUD
10 May 17, 7:47am
Local rates rise in tandem with global yields, led by UK gilts. Markets pricing in official rate hikes in the US and NZ, although timelines are still long
9 May 17, 8:22am
Increased risk appetite has seen higher global bond yields, UST up 2-3 bps across the board, which, if sustained, should follow through to NZ rates; USD boosted by softer EUR; NZD has kept up with the USD, now trading at 0.6915
8 May 17, 8:10am
NZD outperforms all majors to trade at 0.6920 USD and 0.9320 AUD; USD fell after release of employment report, UST yields largely unaffected; local short end rates look to RBNZ announcement for direction
5 May 17, 8:19am
NZ 2yr swap rate remained anchored at 2.31% and 10yr swap rate is up to 3.40%; UST rates also showed mild steepening, 10 yr at 2.35%, strong employment report tonight would provide an upside bias
5 May 17, 8:10am
NZD has suffered from a recent drop in commodity prices even though NZ commodity prices have held up, currently trading at 0.6855 USD; USD reversed gains from FOMC announcement as EUR strengthened
4 May 17, 8:19am
AUD was the weakest performer of the day, down 1.4% to 0.7430 USD; spillover effects have seen NZDUSD drop back below the 0.6900 level and it is trading around the session lows of 0.6880; FOMC statement pushed USD slightly higher
4 May 17, 8:08am
Probability of June rate hike moved from 63% to 75% after the FOMC announcement, with 36 bps increase priced in for rest of the year; NZ 2yr swap rate was unchanged but the 10yr was down 2 bps, driven by global forces
3 May 17, 8:05am
NZD up 0.4% to 0.6935 USD and back above the 0.9200 AUD level; VIX index continues to hover around a historically low level of 10; China growth slows; WTI Crude Oil down 2% to below US$48/brl
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