Jason Wong
Global equity markets probing fresh record highs. US Treasury yields slightly higher. High risk sentiment supports commodity currencies
11th Jul 25, 7:43am
Global equity markets probing fresh record highs. US Treasury yields slightly higher. High risk sentiment supports commodity currencies
More tariff letters but for US trading partners well down the pecking order; more to come. Optimism around a US-EU trade deal in coming days. Global equities higher. US Treasuries well supported
10th Jul 25, 7:46am
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More tariff letters but for US trading partners well down the pecking order; more to come. Optimism around a US-EU trade deal in coming days. Global equities higher. US Treasuries well supported
US equities trading flat, complacent about threat of higher tariffs; US Treasury yields higher and curve steeper. Net currency movements have been modest, with the AUD a clear outperformer after the RBA shock
9th Jul 25, 7:52am
US equities trading flat, complacent about threat of higher tariffs; US Treasury yields higher and curve steeper. Net currency movements have been modest, with the AUD a clear outperformer after the RBA shock
Trump starts notifying countries of new import tariff rates, effective 1-August. These currently range between 25-40%, notably Japan and South Korea at 25%. More letters coming today and coming days. Markets not happy
8th Jul 25, 7:46am
Trump starts notifying countries of new import tariff rates, effective 1-August. These currently range between 25-40%, notably Japan and South Korea at 25%. More letters coming today and coming days. Markets not happy
A whiff of negative risk sentiment ahead of the July 9 end-of-pause day regarding reciprocal tariffs. US equity futures fall. Commodity currencies edge lower
7th Jul 25, 7:31am
A whiff of negative risk sentiment ahead of the July 9 end-of-pause day regarding reciprocal tariffs. US equity futures fall. Commodity currencies edge lower
US nonfarm payrolls up in June, unemployment rate fall. Stronger headline figures send US rates higher across the curve. US equities close at another fresh record high. US Budget bill passes after the early market close
4th Jul 25, 7:52am
US nonfarm payrolls up in June, unemployment rate fall. Stronger headline figures send US rates higher across the curve. US equities close at another fresh record high. US Budget bill passes after the early market close
US rates lower, with the possible appointment of a "low-rates" guy to the US Fed just another reason to sell the USD. USD indices fall to fresh multi-year lows. But equity markets probe record highs
27th Jun 25, 7:46am
US rates lower, with the possible appointment of a "low-rates" guy to the US Fed just another reason to sell the USD. USD indices fall to fresh multi-year lows. But equity markets probe record highs
Calm market conditions overnight. EUR and GBP push up to fresh 2025 highs; NZD solidifies recovery above 60 USc. A full 25bps rate cut now priced for the US Fed by September
26th Jun 25, 7:43am
Calm market conditions overnight. EUR and GBP push up to fresh 2025 highs; NZD solidifies recovery above 60 USc. A full 25bps rate cut now priced for the US Fed by September
Iran orchestrates a missile strike on a US base in Qatar; but well-telegraphed and seen more as symbolic than an escalation in the conflict. Market relieved that oil infrastructure not targeted. Risk assets recover strongly
24th Jun 25, 7:42am
Iran orchestrates a missile strike on a US base in Qatar; but well-telegraphed and seen more as symbolic than an escalation in the conflict. Market relieved that oil infrastructure not targeted. Risk assets recover strongly
Investors adopt a cautious stance as the US becomes more involved in the Iran-Israel conflict. US data weaker than expected. Global equities weaker, US Treasuries lower and USD broadly stronger
18th Jun 25, 7:55am
Investors adopt a cautious stance as the US becomes more involved in the Iran-Israel conflict. US data weaker than expected. Global equities weaker, US Treasuries lower and USD broadly stronger
Risk assets recover as Israel dominates battle against Iran; no sign of conflict spreading to elsewhere in the Middle East and Iran seeks end to hostilities. Global equities stronger, US Treasury yields higher and oil prices lower
17th Jun 25, 7:52am
Risk assets recover as Israel dominates battle against Iran; no sign of conflict spreading to elsewhere in the Middle East and Iran seeks end to hostilities. Global equities stronger, US Treasury yields higher and oil prices lower
Weaker US inflation data drive down US rates. USD also weaker, but NZD and AUD see no net benefit after US-China trade talks end with parties just agreeing to keep the previous agreement, with no further progress
12th Jun 25, 7:57am
Weaker US inflation data drive down US rates. USD also weaker, but NZD and AUD see no net benefit after US-China trade talks end with parties just agreeing to keep the previous agreement, with no further progress
US-China trade talks continue for a second day in London. US treasuries range trade and only small moves in currencies
11th Jun 25, 7:48am
US-China trade talks continue for a second day in London. US treasuries range trade and only small moves in currencies
Lower US inflation expectations support US Treasuries and rates nudge down. USD broadly weaker; NZD pushes up. Markets await China/US trade negotiation news
10th Jun 25, 8:22am
Lower US inflation expectations support US Treasuries and rates nudge down. USD broadly weaker; NZD pushes up. Markets await China/US trade negotiation news
Trump and Xi speak. Trump says the call "a very positive conclusion"; China readout not as positive. ECB cuts as expected but signals being close to the end of the easing cycle. US initial jobless claims rise to highest level since October
6th Jun 25, 7:57am
Trump and Xi speak. Trump says the call "a very positive conclusion"; China readout not as positive. ECB cuts as expected but signals being close to the end of the easing cycle. US initial jobless claims rise to highest level since October