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UST yields rise on improved risk appetite. Data and Jackson Hole take focus. Local swap rates little changed

Bonds
UST yields rise on improved risk appetite. Data and Jackson Hole take focus. Local swap rates little changed

By Jason Wong

US Treasury yields are higher given the improved risk appetite, seeing yields up 2-3 bps across the curve for the session.

The 10-year rate currently trades at its high for the day at 2.215%.

The global economic calendar picks up a gear tonight, with a number of PMI releases and US new home sales.  ECB President Draghi speaks in Germany tonight before heading off to the Jackson Hole symposium, which the market seems more fixated on.

There’s little to say about NZ rates trading yesterday, with the swap and government curve little changed, with movements of 1 bp or less.

The government’s pre-election economic and fiscal update will be released at noon today and will show a healthy set of accounts.

The election campaign has already seen pork-barrel politics in action and projections of rising surpluses can only encourage more of the same.

Daily swap rates

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Opening daily rate
Source: NZFMA
Opening daily rate
Source: NZFMA
Opening daily rate
Source: NZFMA
Opening daily rate
Source: NZFMA
Opening daily rate
Source: NZFMA
Opening daily rate
Source: NZFMA
Opening daily rate
Source: NZFMA


Jason Wong is on the BNZ Research team. All its research is available here.

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