Nick Smyth
Subdued international market moves on Friday. NZD underperforms again - NZD/AUD cross falls to fresh 22-month low. PM Ardern to announce whether election delayed or not at 10am
17th Aug 20, 7:40am
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Subdued international market moves on Friday. NZD underperforms again - NZD/AUD cross falls to fresh 22-month low. PM Ardern to announce whether election delayed or not at 10am
S&P500 makes a new all-time high, before slipping back. Global rates head higher again but not in NZ with time lows in the NZ 10-yr swap rate as market digests the RBNZ MPS
14th Aug 20, 7:49am
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S&P500 makes a new all-time high, before slipping back. Global rates head higher again but not in NZ with time lows in the NZ 10-yr swap rate as market digests the RBNZ MPS
NZD underperforms modestly after news of COVID-19 community transmission in Auckland. US rates move sharply higher. S&P500 continues to edge towards record highs
12th Aug 20, 8:00am
NZD underperforms modestly after news of COVID-19 community transmission in Auckland. US rates move sharply higher. S&P500 continues to edge towards record highs
Tech stocks fall after Trump announces planned restrictions on Tencent-owned WeChat. USD and US rates higher after stronger-than-expected nonfarm payrolls. NZD falls back below 0.66 amidst US-China tensions, USD strength
10th Aug 20, 7:48am
Tech stocks fall after Trump announces planned restrictions on Tencent-owned WeChat. USD and US rates higher after stronger-than-expected nonfarm payrolls. NZD falls back below 0.66 amidst US-China tensions, USD strength
Little movement in equities or currencies overnight. But global rates continue to grind lower. No US fiscal deal yet. Eyes on NZ employment data
5th Aug 20, 7:50am
Little movement in equities or currencies overnight. But global rates continue to grind lower. No US fiscal deal yet. Eyes on NZ employment data
The USD rebounds on Friday, but July was still its weakest month for years. Big tech earnings support US equities. NZ long-term rates approach record lows. Still no breakthrough on US unemployment benefits - risk assets may open lower this morning
3rd Aug 20, 7:38am
The USD rebounds on Friday, but July was still its weakest month for years. Big tech earnings support US equities. NZ long-term rates approach record lows. Still no breakthrough on US unemployment benefits - risk assets may open lower this morning
Trump suggests delaying election - equities fall but then mostly recover. Global rates continue to drift lower - US 10-year real yield close to a record low. USD remains under pressure - EUR makes fresh 2-year high
31st Jul 20, 7:54am
Trump suggests delaying election - equities fall but then mostly recover. Global rates continue to drift lower - US 10-year real yield close to a record low. USD remains under pressure - EUR makes fresh 2-year high
EUR reaches highest level since Sep-2018 as positivity around the EU recovery Fund continues. USD weakens again, although NZD and AUD underperform. Equity markets fall, especially in China after closure of US consulate in Chengdu
27th Jul 20, 7:58am
EUR reaches highest level since Sep-2018 as positivity around the EU recovery Fund continues. USD weakens again, although NZD and AUD underperform. Equity markets fall, especially in China after closure of US consulate in Chengdu
EUR surges to its highest level in 18 months after EU leaders agree €750 bln Recovery Fund. Broad-based USD weakness takes AUD to new YTD highs, NZD above 0.66. Risk appetite still strong - S&P500 pushes higher again
22nd Jul 20, 7:43am
EUR surges to its highest level in 18 months after EU leaders agree €750 bln Recovery Fund. Broad-based USD weakness takes AUD to new YTD highs, NZD above 0.66. Risk appetite still strong - S&P500 pushes higher again
Risk appetite firmer, equity markets higher on positive results from COVID-19 vaccine trials, EU Recovery Fund hopes. EUR reaches highest level since March, NZD nudges up to 0.6570
21st Jul 20, 7:52am
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Risk appetite firmer, equity markets higher on positive results from COVID-19 vaccine trials, EU Recovery Fund hopes. EUR reaches highest level since March, NZD nudges up to 0.6570
No breakthrough yet in EU summit. Small gains in equities on Friday night; corporate earnings will remain a focus this week. NZ 10-year swap rate falls to range lows
20th Jul 20, 7:38am
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No breakthrough yet in EU summit. Small gains in equities on Friday night; corporate earnings will remain a focus this week. NZ 10-year swap rate falls to range lows
Equity markets push higher on encouraging vaccine news. USD falls, with commodity currencies outperforming. NZD pushes back up towards the top-end of its range
16th Jul 20, 7:52am
Equity markets push higher on encouraging vaccine news. USD falls, with commodity currencies outperforming. NZD pushes back up towards the top-end of its range
S&P500 recovers from yesterday's sharp intraday fall. USD weakens to a one-month low. NZD underperforms. New 20-year NZ government bond syndicated
15th Jul 20, 7:43am
S&P500 recovers from yesterday's sharp intraday fall. USD weakens to a one-month low. NZD underperforms. New 20-year NZ government bond syndicated
Equities, rates and commodity prices increase after positive results on Remdesivir. Currency moves surprisingly muted. US corporate earnings season starts this week
13th Jul 20, 7:50am
Equities, rates and commodity prices increase after positive results on Remdesivir. Currency moves surprisingly muted. US corporate earnings season starts this week
Strong US non-farm payrolls, +4.8m jobs. Equities higher (NASDAQ new record high) but bond yields unmoved. NZD outperforms, breaks above 0.65
3rd Jul 20, 8:01am
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Strong US non-farm payrolls, +4.8m jobs. Equities higher (NASDAQ new record high) but bond yields unmoved. NZD outperforms, breaks above 0.65
Equities fall sharply on growing COVID-19 concern in the US. Global rates fall, curves flatten. NZD and AUD surprisingly resilient to equity market falls
29th Jun 20, 7:48am
Equities fall sharply on growing COVID-19 concern in the US. Global rates fall, curves flatten. NZD and AUD surprisingly resilient to equity market falls
Choppy trading but little net change in equities, rates or FX. Fed releases US banks stress tests this morning. NZD outperforms overnight (+0.2%) as it continues to track the S&P500
26th Jun 20, 8:00am
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Choppy trading but little net change in equities, rates or FX. Fed releases US banks stress tests this morning. NZD outperforms overnight (+0.2%) as it continues to track the S&P500
US equities push higher again. USD lower, NZD and AUD rise sharply. Little change in global rates
23rd Jun 20, 7:43am
US equities push higher again. USD lower, NZD and AUD rise sharply. Little change in global rates
Equity markets extend gains from yesterday as markets focus on better US data, reports of a big US infrastructure stimulus, and positive news on a COVID-19 treatment. NZDM issues a record $7 bln via its May-2024 syndication
17th Jun 20, 8:07am
Equity markets extend gains from yesterday as markets focus on better US data, reports of a big US infrastructure stimulus, and positive news on a COVID-19 treatment. NZDM issues a record $7 bln via its May-2024 syndication
Whopper NZ Government bond of $7 billion issued after $14 billion worth of bids, annual Government Bond Programme size increased by $4 billion to $29 billion
16th Jun 20, 2:16pm
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Whopper NZ Government bond of $7 billion issued after $14 billion worth of bids, annual Government Bond Programme size increased by $4 billion to $29 billion
Global recovery theme continues - equities, rates, commodity FX all higher again. USD weakness continues. NZD up more than 1% from yesterday to above 0.64
4th Jun 20, 7:45am
Global recovery theme continues - equities, rates, commodity FX all higher again. USD weakness continues. NZD up more than 1% from yesterday to above 0.64
Equity markets continue to rise on growing optimism for a global growth rebound. USD falls further amidst declining risk aversion. AUD reaches its highest level since January, NZD close to 0.63
2nd Jun 20, 8:00am
Equity markets continue to rise on growing optimism for a global growth rebound. USD falls further amidst declining risk aversion. AUD reaches its highest level since January, NZD close to 0.63
Equities move higher again as market optimism over an economic recovery grows. Risk-on backdrops sees USD weaken, NZD rise above 0.62. Little move in NZ or global rates over the past 24 hours
29th May 20, 7:56am
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Equities move higher again as market optimism over an economic recovery grows. Risk-on backdrops sees USD weaken, NZD rise above 0.62. Little move in NZ or global rates over the past 24 hours
US, European equities make small gains despite worries about Hong Kong, US-China tensions. NZD falls modestly, ends the week below 0.61. RBNZ tapers bond buying slightly, but little reaction in NZ rates
25th May 20, 7:41am
US, European equities make small gains despite worries about Hong Kong, US-China tensions. NZD falls modestly, ends the week below 0.61. RBNZ tapers bond buying slightly, but little reaction in NZ rates
Equity markets fall modestly on more US-China tensions. Little change in global rates. NZD and AUD decline due to more cautious risk sentiment
22nd May 20, 7:52am
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Equity markets fall modestly on more US-China tensions. Little change in global rates. NZD and AUD decline due to more cautious risk sentiment