ECB
Global equities ended the week on a soft note with geopolitical risks and an underwhelming corporate earnings season undermining market sentiment. US core PCE deflator rose 3.7% annual rate in September
30th Oct 23, 7:32am
Global equities ended the week on a soft note with geopolitical risks and an underwhelming corporate earnings season undermining market sentiment. US core PCE deflator rose 3.7% annual rate in September
Investor risk sentiment remains fragile with global equities extending recent losses amid disappointing earnings from large US tech companies. The ECB held rates steady at 4% as expected. US GDP expanded at a healthy 4.9% annual rate in Q3
27th Oct 23, 7:48am
Investor risk sentiment remains fragile with global equities extending recent losses amid disappointing earnings from large US tech companies. The ECB held rates steady at 4% as expected. US GDP expanded at a healthy 4.9% annual rate in Q3
US equities lost ground as treasury yields moved sharply higher impacting risk sentiment. The Bank of Canada left rates steady at 5% as expected. Markets look ahead to the ECB meeting this evening and US Q3 GDP data
26th Oct 23, 7:49am
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US equities lost ground as treasury yields moved sharply higher impacting risk sentiment. The Bank of Canada left rates steady at 5% as expected. Markets look ahead to the ECB meeting this evening and US Q3 GDP data
Softer European PMIs, stronger US PMIs support stronger USD. NZD/AUD grinds down further. US 10-year rate sustains the fall to below 5%
25th Oct 23, 7:49am
Softer European PMIs, stronger US PMIs support stronger USD. NZD/AUD grinds down further. US 10-year rate sustains the fall to below 5%
Wild price action in the bond market; US 10-year rate trades as high as 5.02% before sharply plunging to 4.83%. US equities weak until sharp fall in rates drives strong recovery off the low
24th Oct 23, 7:48am
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Wild price action in the bond market; US 10-year rate trades as high as 5.02% before sharply plunging to 4.83%. US equities weak until sharp fall in rates drives strong recovery off the low
Whippy markets during Powell speech as US 10-year trades a fresh high for the cycle. NZ long-term rates follow global moves and close at fresh highs
20th Oct 23, 8:09am
Whippy markets during Powell speech as US 10-year trades a fresh high for the cycle. NZ long-term rates follow global moves and close at fresh highs
Global bonds markets under pressure with US treasuries making fresh multi-year highs ahead of a widely anticipated speech by Fed Chair Powell. Oil prices higher. The Chinese economy expanded 4.9% in Q3, faster than expected
19th Oct 23, 7:54am
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Global bonds markets under pressure with US treasuries making fresh multi-year highs ahead of a widely anticipated speech by Fed Chair Powell. Oil prices higher. The Chinese economy expanded 4.9% in Q3, faster than expected
Much stronger than expected US retail sales data and recovery in industrial production play to economic resilience narrative. US Treasury yields higher across the curve
18th Oct 23, 8:04am
Much stronger than expected US retail sales data and recovery in industrial production play to economic resilience narrative. US Treasury yields higher across the curve
New week kicks off with higher risk appetite. USD broadly weaker, US equities higher, US Treasury yields higher with 10-year rate up 10bps. Eyes on NZ CPI, expecting high inflation rate
17th Oct 23, 7:46am
New week kicks off with higher risk appetite. USD broadly weaker, US equities higher, US Treasury yields higher with 10-year rate up 10bps. Eyes on NZ CPI, expecting high inflation rate
Rising investor risk aversion hangs over global markets. Global equities fell and flows into safe haven assets picked up. Both oil and gold surged. US consumer sentiment fell to the lowest level since May
16th Oct 23, 7:23am
Rising investor risk aversion hangs over global markets. Global equities fell and flows into safe haven assets picked up. Both oil and gold surged. US consumer sentiment fell to the lowest level since May
Annual US core inflation falls to two-year low of 4.1%, but strong underbelly for September plays to higher for longer rates theme. US Treasury yields up strongly, with further kick higher for the long end after a poor 30-year auction
13th Oct 23, 7:57am
Annual US core inflation falls to two-year low of 4.1%, but strong underbelly for September plays to higher for longer rates theme. US Treasury yields up strongly, with further kick higher for the long end after a poor 30-year auction
US Fed in 'wait and see' mode with PPI slightly higher than expected and eyes on US CPI. China considers raising 2023 budget deficit to allow for more stimulus
12th Oct 23, 7:52am
US Fed in 'wait and see' mode with PPI slightly higher than expected and eyes on US CPI. China considers raising 2023 budget deficit to allow for more stimulus
Markets taking a sanguine view on Israel-Hamas conflict. Market more focused on the possible end of Fed tightening cycle after recent Fed speeches. Chance of additional Fed hike down to 30%; US Treasuries sustain yesterday's rally
11th Oct 23, 7:52am
Markets taking a sanguine view on Israel-Hamas conflict. Market more focused on the possible end of Fed tightening cycle after recent Fed speeches. Chance of additional Fed hike down to 30%; US Treasuries sustain yesterday's rally
Market focused on implications of renewed geopolitical risk. Muted reaction so far. Fed speakers say they are mindful of the recent tightening in financial conditions
10th Oct 23, 7:40am
Market focused on implications of renewed geopolitical risk. Muted reaction so far. Fed speakers say they are mindful of the recent tightening in financial conditions
US nonfarm payrolls easily beat expectations resulting in significant moves across asset markets. They rose double the consensus estimate, with sizable upward revisions to previous months. US treasuries sold off aggressively following the data
9th Oct 23, 7:35am
US nonfarm payrolls easily beat expectations resulting in significant moves across asset markets. They rose double the consensus estimate, with sizable upward revisions to previous months. US treasuries sold off aggressively following the data
Markets stable ahead of US labour data. Oil down -14% from September highs. US initial jobless claims steady. Global bond markets take pause from the aggressive recent sell-off
6th Oct 23, 7:31am
Markets stable ahead of US labour data. Oil down -14% from September highs. US initial jobless claims steady. Global bond markets take pause from the aggressive recent sell-off
Global bond yields pulled back from multi-year highs. The ADP estimate of US private non-farm payrolls lower than consensus estimates. Oil prices fell to the lowest level since early September
5th Oct 23, 7:50am
Global bond yields pulled back from multi-year highs. The ADP estimate of US private non-farm payrolls lower than consensus estimates. Oil prices fell to the lowest level since early September
Stronger than expected US JOLTS report sends US 10-year rate up to fresh highs and pushes USD DXY index up to fresh YTD high; yen jittery
4th Oct 23, 7:54am
Stronger than expected US JOLTS report sends US 10-year rate up to fresh highs and pushes USD DXY index up to fresh YTD high; yen jittery
Surprise weekend resolution to avoid US government shutdown and stronger than expected US ISM manufacturing survey add to upside pressure on rates. Fresh highs in yields and steeper curves; US 10-year rate cracks 4.7% before market finds support
3rd Oct 23, 7:48am
Surprise weekend resolution to avoid US government shutdown and stronger than expected US ISM manufacturing survey add to upside pressure on rates. Fresh highs in yields and steeper curves; US 10-year rate cracks 4.7% before market finds support
Global markets were generally subdued into month-end after large losses for bonds and equities during September. Further signs of easing price pressures in the US and Eurozone
2nd Oct 23, 7:43am
Global markets were generally subdued into month-end after large losses for bonds and equities during September. Further signs of easing price pressures in the US and Eurozone
UK gilts sell-off leads another bout of higher rates around the world and fresh cycle highs; US 10-year rate up to 4.69% before reversing course. Progress in UAW and carmaker wage negotiations, and improving US/China talks support risk appetite
29th Sep 23, 7:53am
UK gilts sell-off leads another bout of higher rates around the world and fresh cycle highs; US 10-year rate up to 4.69% before reversing course. Progress in UAW and carmaker wage negotiations, and improving US/China talks support risk appetite
Global long-term rates up to fresh cycle highs; US 10-year reaches 4.63%, curve steepens further; US equities continue to fall. Oil prices up 3% to fresh highs for the year as US crude inventories running low
28th Sep 23, 8:00am
Global long-term rates up to fresh cycle highs; US 10-year reaches 4.63%, curve steepens further; US equities continue to fall. Oil prices up 3% to fresh highs for the year as US crude inventories running low
US Treasury yields trade near cycle highs with little net movement overnight; Global forces send NZ rates up to fresh highs yesterday. USD broadly stronger, but only small moves overall
27th Sep 23, 7:53am
US Treasury yields trade near cycle highs with little net movement overnight; Global forces send NZ rates up to fresh highs yesterday. USD broadly stronger, but only small moves overall
Global bond market sell-off returns - US and German 10-year rates up to fresh highs; steeper curves evident, with US2s10s at four-month high. China's Evergrande woes return. China property stocks lower, yuan softer; global metal prices weaker
26th Sep 23, 7:45am
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Global bond market sell-off returns - US and German 10-year rates up to fresh highs; steeper curves evident, with US2s10s at four-month high. China's Evergrande woes return. China property stocks lower, yuan softer; global metal prices weaker
US equities fall for four consecutive days, third consecutive week. UST yields reverse course. BoJ maintains ultra-easy policy with Governor Ueda dovish; yen weakens back to near 10-month low
25th Sep 23, 8:34am
US equities fall for four consecutive days, third consecutive week. UST yields reverse course. BoJ maintains ultra-easy policy with Governor Ueda dovish; yen weakens back to near 10-month low