Euro
Key US inflation data was in line with consensus estimates and had limited lasting market impact. NZD/USD was stable in offshore trade, following its 1% fall yesterday
15th Aug 24, 7:49am
Key US inflation data was in line with consensus estimates and had limited lasting market impact. NZD/USD was stable in offshore trade, following its 1% fall yesterday
A benign US PPI got the market’s attention and helped drive lower US rates, a lower USD and higher US equities. Against broad-based weakness in the USD, the NZD has outperformed
14th Aug 24, 7:45am
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A benign US PPI got the market’s attention and helped drive lower US rates, a lower USD and higher US equities. Against broad-based weakness in the USD, the NZD has outperformed
A quiet start to a busy week, with US equities flat, US Treasury yields slightly lower and modest changes in major currencies. The economic calendar picks up, with Australian wages data, UK labour market data and US PPI ahead
13th Aug 24, 7:46am
A quiet start to a busy week, with US equities flat, US Treasury yields slightly lower and modest changes in major currencies. The economic calendar picks up, with Australian wages data, UK labour market data and US PPI ahead
Big week ahead, with RBNZ MPS and key global data, including the US CPI. US equity markets recovered on Friday with a modest gain while the US Treasuries curve flattened
12th Aug 24, 7:18am
Big week ahead, with RBNZ MPS and key global data, including the US CPI. US equity markets recovered on Friday with a modest gain while the US Treasuries curve flattened
A larger than expected fall in US initial jobless claims allayed fears of a pending US recession, sending US equities much higher and US Treasury yields higher, with the 10-year rate returning to a 4% handle
9th Aug 24, 7:41am
A larger than expected fall in US initial jobless claims allayed fears of a pending US recession, sending US equities much higher and US Treasury yields higher, with the 10-year rate returning to a 4% handle
Risk appetite recover further, although risks remain and US equities gains have morphed into losses. US Treasury yields have pushed higher and the NZD has outperformed
8th Aug 24, 7:42am
Risk appetite recover further, although risks remain and US equities gains have morphed into losses. US Treasury yields have pushed higher and the NZD has outperformed
Risk appetite returned, with global equities rebounding, UST yields higher, the yen falling and commodity currencies outperforming. A more hawkish than expected update by the RBA. Key NZ labour market data out today to show further deterioration
7th Aug 24, 7:50am
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Risk appetite returned, with global equities rebounding, UST yields higher, the yen falling and commodity currencies outperforming. A more hawkish than expected update by the RBA. Key NZ labour market data out today to show further deterioration
Rising risk aversion dominates global markets. The VIX index reached a 4-year high. A recovery in the US services ISM helped assuage some concerns about the economic slowdown
6th Aug 24, 7:45am
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Rising risk aversion dominates global markets. The VIX index reached a 4-year high. A recovery in the US services ISM helped assuage some concerns about the economic slowdown
Risk off tone across global markets intensified following soft US labour market data. UST yields declined sharply as the market priced a more aggressive easing cycle by the Fed. Oil prices fell despite rising geopolitical risks
5th Aug 24, 7:38am
Risk off tone across global markets intensified following soft US labour market data. UST yields declined sharply as the market priced a more aggressive easing cycle by the Fed. Oil prices fell despite rising geopolitical risks
Risk appetite fell after weaker than expected US economic data on the labour market and manufacturing sector. US equities have fallen significantly, and the US 10-year Treasury yield has fallen below 4%
2nd Aug 24, 7:42am
Risk appetite fell after weaker than expected US economic data on the labour market and manufacturing sector. US equities have fallen significantly, and the US 10-year Treasury yield has fallen below 4%
The US Federal Reserve left rates unchanged as expected but softened its language on inflation and signaled it is getting closer to lowering rates. Global equity markets staged a strong rally while global bond yields are generally lower outside of Japan
1st Aug 24, 7:42am
The US Federal Reserve left rates unchanged as expected but softened its language on inflation and signaled it is getting closer to lowering rates. Global equity markets staged a strong rally while global bond yields are generally lower outside of Japan
Lower tech stocks have driven US equities down while UST yields are lower, ignoring slightly stronger than expected US JOLTs data and consumer confidence. JPY strengthened after report that the BoJ will consider a hike at today’s meeting
31st Jul 24, 7:56am
Lower tech stocks have driven US equities down while UST yields are lower, ignoring slightly stronger than expected US JOLTs data and consumer confidence. JPY strengthened after report that the BoJ will consider a hike at today’s meeting
US equities are flat, global rates are down slightly and the USD is slightly stronger. Oil prices continue to trend lower, with Brent crude down 2% to slip to a 7-week low below USD80
30th Jul 24, 7:40am
US equities are flat, global rates are down slightly and the USD is slightly stronger. Oil prices continue to trend lower, with Brent crude down 2% to slip to a 7-week low below USD80
US treasury yields fell across the curve supported by weakening consumption and benign inflation data. Currency markets were subdued. S&P500 makes partial recovery
29th Jul 24, 7:29am
US treasury yields fell across the curve supported by weakening consumption and benign inflation data. Currency markets were subdued. S&P500 makes partial recovery
Stronger than expected US GDP data supported the soft-landing narrative, and US equities have consolidated after yesterday's tumble. Currency markets have remained erratic
26th Jul 24, 7:54am
Stronger than expected US GDP data supported the soft-landing narrative, and US equities have consolidated after yesterday's tumble. Currency markets have remained erratic
US stocks tumble, led by the mega cap and IT stocks. However, it doesn’t seem like a classic risk-off event, with the UST 10yr rate up and the curve steepened significantly. The Bank of Canada cuts again, by 25bps. The yen continues to outperform
25th Jul 24, 7:43am
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US stocks tumble, led by the mega cap and IT stocks. However, it doesn’t seem like a classic risk-off event, with the UST 10yr rate up and the curve steepened significantly. The Bank of Canada cuts again, by 25bps. The yen continues to outperform
US equities are flat and US Treasury yields are slightly lower. Of note is that lower commodity prices continue to drag down the NZD and AUD, while the yen remains flavour of the week
24th Jul 24, 7:43am
US equities are flat and US Treasury yields are slightly lower. Of note is that lower commodity prices continue to drag down the NZD and AUD, while the yen remains flavour of the week
US equities have rebounded, recovering from last week’s hiccup, driven by the tech sector. Market reaction to Biden’s withdrawal from the Presidential race has been muted, with only small changes in the USD and Treasury yields
23rd Jul 24, 7:40am
US equities have rebounded, recovering from last week’s hiccup, driven by the tech sector. Market reaction to Biden’s withdrawal from the Presidential race has been muted, with only small changes in the USD and Treasury yields
Financial markets ended last week on a soft note, with weaker global equity markets, higher global rates and lower commodity prices. Volumes were light as trading activity was restricted by the global IT outage
22nd Jul 24, 7:33am
Financial markets ended last week on a soft note, with weaker global equity markets, higher global rates and lower commodity prices. Volumes were light as trading activity was restricted by the global IT outage
Global equity markets declined for the second consecutive session. Equities are beginning to price in more political risk. The US dollar gained against G10 currencies
19th Jul 24, 7:46am
Global equity markets declined for the second consecutive session. Equities are beginning to price in more political risk. The US dollar gained against G10 currencies
Key Fed officials suggest greater confidence in the disinflationary trend. Technology stocks led declines in global equities amid concerns about tighter restrictions from the US government on exports to China
18th Jul 24, 7:33am
Key Fed officials suggest greater confidence in the disinflationary trend. Technology stocks led declines in global equities amid concerns about tighter restrictions from the US government on exports to China
The US Treasury yield curve flattened and currency markets are little changed. Gold hit a record high of US$2465 an ounce. US equities advanced following unexpectedly strong retail sales data
17th Jul 24, 7:51am
The US Treasury yield curve flattened and currency markets are little changed. Gold hit a record high of US$2465 an ounce. US equities advanced following unexpectedly strong retail sales data
Powell looks to rate cuts, but without saying when. The US treasury curve has continued to steepen. 30-year yields are above 2-year yields for the first time since November. China’s Q2 GDP data was weaker than expected
16th Jul 24, 8:07am
Powell looks to rate cuts, but without saying when. The US treasury curve has continued to steepen. 30-year yields are above 2-year yields for the first time since November. China’s Q2 GDP data was weaker than expected
Markets looked past strong US PPI data. UST 10-yr yields dipped below 4.2% a level which has contained the downside in recent months. The yield curve continued to steepen. The US dollar remained under pressure particularly against the yen
15th Jul 24, 7:31am
Markets looked past strong US PPI data. UST 10-yr yields dipped below 4.2% a level which has contained the downside in recent months. The yield curve continued to steepen. The US dollar remained under pressure particularly against the yen
Another benign US CPI result drove a sharp rally in US Treasury yields. USD weakness wasn’t sustained however, except for a plunge in USD/JPY with official intervention suspected
12th Jul 24, 7:53am
Another benign US CPI result drove a sharp rally in US Treasury yields. USD weakness wasn’t sustained however, except for a plunge in USD/JPY with official intervention suspected