Stuart Ritson
US announces trade deal with Vietnam. S&P500 underpinned and trades to fresh record high. ADP private payrolls significantly undershoot expectations
3rd Jul 25, 7:39am
US announces trade deal with Vietnam. S&P500 underpinned and trades to fresh record high. ADP private payrolls significantly undershoot expectations
Front end treasury yields higher after stronger than expected US job openings. Trump’s US$3.3 tln tax and spending bill has passed the Senate. Currency markets stable
2nd Jul 25, 8:00am
Front end treasury yields higher after stronger than expected US job openings. Trump’s US$3.3 tln tax and spending bill has passed the Senate. Currency markets stable
S&P500 hits a fresh record intra-day high and has registered near 10% gains in the quarter outstripping other indices. US Treasury Secretary wants to avoid longer end treasury supply. US Treasury yields decline and the curve flattens
1st Jul 25, 7:52am
S&P500 hits a fresh record intra-day high and has registered near 10% gains in the quarter outstripping other indices. US Treasury Secretary wants to avoid longer end treasury supply. US Treasury yields decline and the curve flattens
After recovering from a dip on tariff concerns, the S&P500 closed at a record high. US core PCE deflator benign but above expectations. Real consumption soft. OPEC+ is considering a further increase in supply
30th Jun 25, 7:43am
After recovering from a dip on tariff concerns, the S&P500 closed at a record high. US core PCE deflator benign but above expectations. Real consumption soft. OPEC+ is considering a further increase in supply
Middle East ceasefire supports risk sensitive assets. Oil prices plunge. Fed Chair Powell reiterates FOMC messaging. US treasuries rally on weak confidence data and lower oil prices
25th Jun 25, 7:51am
Middle East ceasefire supports risk sensitive assets. Oil prices plunge. Fed Chair Powell reiterates FOMC messaging. US treasuries rally on weak confidence data and lower oil prices
Further escalation in Middle East conflict to weigh on investor risk appetite and underpin oil prices. Fed Governor Waller said the central bank could cut rates as soon as July highlighting the split amongst the FOMC
23rd Jun 25, 7:24am
Further escalation in Middle East conflict to weigh on investor risk appetite and underpin oil prices. Fed Governor Waller said the central bank could cut rates as soon as July highlighting the split amongst the FOMC
US Federal Reserve leaves rates on hold as expected. FOMC median forecast still shows 50bp of rate cuts this year. Limited market reaction. Treasury yields remain modestly lower and currency markets stable
19th Jun 25, 7:49am
US Federal Reserve leaves rates on hold as expected. FOMC median forecast still shows 50bp of rate cuts this year. Limited market reaction. Treasury yields remain modestly lower and currency markets stable
Rise in investor risk aversion amid a significant escalation in Middle East tensions. Oil prices surge. Brent crude futures close near US$75 per barrel. Global equities declined. US treasuries reversed an earlier rally and closed higher in yield
16th Jun 25, 7:24am
Rise in investor risk aversion amid a significant escalation in Middle East tensions. Oil prices surge. Brent crude futures close near US$75 per barrel. Global equities declined. US treasuries reversed an earlier rally and closed higher in yield
Benign US inflation data and a solid 30-year auction supported a rally in US treasuries. The US dollar remained under pressure with the dollar index falling below the April low
13th Jun 25, 7:50am
Benign US inflation data and a solid 30-year auction supported a rally in US treasuries. The US dollar remained under pressure with the dollar index falling below the April low
US labour market data shows resilience despite the elevated policy uncertainty. Treasury yields sharply higher as Fed easing expectations are trimmed. Further signs of an easing in US-China trade tensions supports risk sentiment
9th Jun 25, 7:41am
US labour market data shows resilience despite the elevated policy uncertainty. Treasury yields sharply higher as Fed easing expectations are trimmed. Further signs of an easing in US-China trade tensions supports risk sentiment
Weaker than expected data supports rally in US treasuries. US Services ISM contracts. Equity markets less impacted with the S&P500 modestly higher and global stocks reaching a record high
5th Jun 25, 7:48am
Weaker than expected data supports rally in US treasuries. US Services ISM contracts. Equity markets less impacted with the S&P500 modestly higher and global stocks reaching a record high
US manufacturing ISM softer than expected reflecting the uncertain economic backdrop. Crude oil prices climbed more than 2% despite news that OPEC+ had agreed to increase oil output
3rd Jun 25, 7:28am
US manufacturing ISM softer than expected reflecting the uncertain economic backdrop. Crude oil prices climbed more than 2% despite news that OPEC+ had agreed to increase oil output
Further macro uncertainty after a US court invalidated Trump’s ‘liberation day’ tariffs. An initial S&P500 rally following the decision faded. Soft US economic data brought lower US Treasury yields and a weaker US dollar
30th May 25, 7:43am
Further macro uncertainty after a US court invalidated Trump’s ‘liberation day’ tariffs. An initial S&P500 rally following the decision faded. Soft US economic data brought lower US Treasury yields and a weaker US dollar
Trump threatened aggressive tariffs on the EU contributing to volatility in risk sensitive assets. S&P500 partially recovers from initial losses. Euro Stoxx down close to 2% and German bunds rally. US dollar broadly weaker
26th May 25, 7:20am
Trump threatened aggressive tariffs on the EU contributing to volatility in risk sensitive assets. S&P500 partially recovers from initial losses. Euro Stoxx down close to 2% and German bunds rally. US dollar broadly weaker
US PMIs resilient despite economic uncertainty. Euro-area PMIs soft. US dollar makes broad based gains. Modest increase in the NZGB borrowing programme forecast at the Budget
23rd May 25, 7:50am
US PMIs resilient despite economic uncertainty. Euro-area PMIs soft. US dollar makes broad based gains. Modest increase in the NZGB borrowing programme forecast at the Budget