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Nick Smyth

Risk on session overnight - equities, commodities, NZD and AUD all higher. US 10-year rate slips further despite yesterday's strong CPI release
15th Oct 21, 7:49am
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Risk on session overnight - equities, commodities, NZD and AUD all higher. US 10-year rate slips further despite yesterday's strong CPI release
US CPI close to expectations but underlying inflationary pressures continue to build. Yield curves flatten. Equities higher, with the NASDAQ outperforming
14th Oct 21, 7:51am
US CPI close to expectations but underlying inflationary pressures continue to build. Yield curves flatten. Equities higher, with the NASDAQ outperforming
Fed officials seem to confirm a November tapering announcement is coming, with markets raising Fed rate hike expectations. Commodity currencies outperform
13th Oct 21, 7:48am
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Fed officials seem to confirm a November tapering announcement is coming, with markets raising Fed rate hike expectations. Commodity currencies outperform
Energy prices and bond yields continue to head higher. AUD outperforms as NSW starts reopening, NZD/AUD hits a fresh 2-month low
12th Oct 21, 7:47am
Energy prices and bond yields continue to head higher. AUD outperforms as NSW starts reopening, NZD/AUD hits a fresh 2-month low
A mixed US payrolls report seen as unlikely to stop the Fed announcing tapering in November. Bond yields continue to head higher as inflation concerns start to mount
11th Oct 21, 7:42am
A mixed US payrolls report seen as unlikely to stop the Fed announcing tapering in November. Bond yields continue to head higher as inflation concerns start to mount
Market sentiment improves with equities rebounding strongly, US 10-year rising to 1.57%, commodity currencies outperforming
8th Oct 21, 7:43am
Market sentiment improves with equities rebounding strongly, US 10-year rising to 1.57%, commodity currencies outperforming
US equities finish last week strongly. Positive trial results from Merck's Covid treatment drug helping sentiment. USD weaker as risk appetite improves.
4th Oct 21, 7:48am
US equities finish last week strongly. Positive trial results from Merck's Covid treatment drug helping sentiment. USD weaker as risk appetite improves.
S&P500 remains under pressure, set for worst month since last March. US 10-year rate unchanged, USD gives back some of this week's sharp appreciation
1st Oct 21, 7:53am
S&P500 remains under pressure, set for worst month since last March. US 10-year rate unchanged, USD gives back some of this week's sharp appreciation
Market moves more restrained on Friday after a volatile week. Evergrande still in the headlines. Global rates push higher again, with US 10-year up to 1.45%, NZ 10-year swap rate to 2.20%
27th Sep 21, 7:57am
Market moves more restrained on Friday after a volatile week. Evergrande still in the headlines. Global rates push higher again, with US 10-year up to 1.45%, NZ 10-year swap rate to 2.20%
Global rates jump higher - US 10-year rate above 1.40% for first time since July. Equity markets rebound further. USD falls amidst improving risk appetite
24th Sep 21, 7:52am
Global rates jump higher - US 10-year rate above 1.40% for first time since July. Equity markets rebound further. USD falls amidst improving risk appetite
S&P500 lower, USD stronger on Friday as risk appetite remains cautious ahead of Fed meeting this week. NZ 2-year swap rate hits 1.50%, its highest level since mid-2019
20th Sep 21, 8:03am
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S&P500 lower, USD stronger on Friday as risk appetite remains cautious ahead of Fed meeting this week. NZ 2-year swap rate hits 1.50%, its highest level since mid-2019
US CPI slightly lower than expected. Equity markets down again, safe havens outperform in the FX market. RBA pushes back against rate hike pricing
15th Sep 21, 7:44am
US CPI slightly lower than expected. Equity markets down again, safe havens outperform in the FX market. RBA pushes back against rate hike pricing
Reports Biden considering a new investigation of Chinese state subsides will set the equity market tone this week. Global rates rebound, helped by higher commodity prices
13th Sep 21, 7:25am
Reports Biden considering a new investigation of Chinese state subsides will set the equity market tone this week. Global rates rebound, helped by higher commodity prices
ECB confirms reduced QE bond buying pace in Q4, a "recalibration", not a "tapering". Equity markets flat-to-slightly lower. Market pricing a small chance of a 50bp OCR hike at the RBNZ's October meeting
10th Sep 21, 7:48am
ECB confirms reduced QE bond buying pace in Q4, a "recalibration", not a "tapering". Equity markets flat-to-slightly lower. Market pricing a small chance of a 50bp OCR hike at the RBNZ's October meeting
Big downside miss on US payrolls but wage growth stronger than expected. No tapering signal until at least November. US curve steepens, USD falls, equities little changed
6th Sep 21, 8:20am
Big downside miss on US payrolls but wage growth stronger than expected. No tapering signal until at least November. US curve steepens, USD falls, equities little changed
USD falls to a one-month low, now down 1% since Powell's Jackson Hole speech. NZ 10-year bond spread to Australia reaches fresh 5½ year high
3rd Sep 21, 7:47am
USD falls to a one-month low, now down 1% since Powell's Jackson Hole speech. NZ 10-year bond spread to Australia reaches fresh 5½ year high
Powell's Jackson Hole speech confirms tapering soon. Equities higher, bond yields and USD lower. Eyes now on US non-farm payrolls
30th Aug 21, 7:50am
Powell's Jackson Hole speech confirms tapering soon. Equities higher, bond yields and USD lower. Eyes now on US non-farm payrolls
Suicide bombings outside Kabul airport see risk appetite turn more cautious. Equity markets fall, albeit off the intraday lows. USD stronger with commodity currencies underperforming
27th Aug 21, 7:45am
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Suicide bombings outside Kabul airport see risk appetite turn more cautious. Equity markets fall, albeit off the intraday lows. USD stronger with commodity currencies underperforming
Equity markets, industrial commodities rebound as Dallas Fed President Kaplan (a 'hawk') hints he is open to delaying tapering. NZD stabilises on Friday but still down heavily (~3%) on the week
23rd Aug 21, 7:51am
Equity markets, industrial commodities rebound as Dallas Fed President Kaplan (a 'hawk') hints he is open to delaying tapering. NZD stabilises on Friday but still down heavily (~3%) on the week
Commodities sharply lower over the past 24 hours on global growth concerns. NZD and AUD print fresh YTD lows, USD makes a 9-month high. NZ rates market pares back OCR rate hike expectations yesterday with Covid case numbers in focus
20th Aug 21, 8:01am
Commodities sharply lower over the past 24 hours on global growth concerns. NZD and AUD print fresh YTD lows, USD makes a 9-month high. NZ rates market pares back OCR rate hike expectations yesterday with Covid case numbers in focus
Big falls in US 10-year and USD after shockingly low US consumer confidence. Thin markets likely exacerbating the moves. NZD back above 0.70 amidst weaker USD backdrop
16th Aug 21, 7:38am
Big falls in US 10-year and USD after shockingly low US consumer confidence. Thin markets likely exacerbating the moves. NZD back above 0.70 amidst weaker USD backdrop
US 10-year rate higher, reversing its post US-CPI fall. NZD underperforms, alongside AUD, to be back under 0.70. Second-tier NZ data yesterday reinforces case for RBNZ OCR hikes
13th Aug 21, 7:49am
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US 10-year rate higher, reversing its post US-CPI fall. NZD underperforms, alongside AUD, to be back under 0.70. Second-tier NZ data yesterday reinforces case for RBNZ OCR hikes
US nonfarm payrolls stronger than expected on all fronts. US 10-year jumps to 1.30%, USD higher on potential for earlier Fed tapering. S&P500 edges to fresh record high, with reflation trade favourites making a comeback
9th Aug 21, 7:30am
US nonfarm payrolls stronger than expected on all fronts. US 10-year jumps to 1.30%, USD higher on potential for earlier Fed tapering. S&P500 edges to fresh record high, with reflation trade favourites making a comeback
Limited market moves as investors wait on payrolls tonight. Equities, bond yields and NZD all higher overnight. Bank of England suggests some "modest" tightening likely. NZ rates consolidate yesterday after their sharp increases post-HLFS
6th Aug 21, 7:49am
Limited market moves as investors wait on payrolls tonight. Equities, bond yields and NZD all higher overnight. Bank of England suggests some "modest" tightening likely. NZ rates consolidate yesterday after their sharp increases post-HLFS
Equities and bond yields lower, USD higher on Friday. Plenty of economic data but little impact on markets. AUD and NZD underperform last week with RBA expected to reverse tapering decision
2nd Aug 21, 7:36am
Equities and bond yields lower, USD higher on Friday. Plenty of economic data but little impact on markets. AUD and NZD underperform last week with RBA expected to reverse tapering decision