Euro
Softer than expected US inflation data contributed to large moves across global markets. US equities reach 15 month highs. US treasury yields are lower and the US dollar is sharply weaker
13th Jul 23, 7:53am
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Softer than expected US inflation data contributed to large moves across global markets. US equities reach 15 month highs. US treasury yields are lower and the US dollar is sharply weaker
US treasury yields moved lower led by the front end. Curve maintains recent steepening move. Soft consumer and producer price data in China raise concerns
11th Jul 23, 7:22am
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US treasury yields moved lower led by the front end. Curve maintains recent steepening move. Soft consumer and producer price data in China raise concerns
Weaker US payrolls data contributes to lower front end US Treasury yields. 10-year yields marginally higher, up 20bps for the week. Canada payrolls data surprises with strength
10th Jul 23, 7:47am
Weaker US payrolls data contributes to lower front end US Treasury yields. 10-year yields marginally higher, up 20bps for the week. Canada payrolls data surprises with strength
Very strong US ADP payrolls and stronger ISM services report keep alive the probability of further Fed hikes; bond market selloff extends. NZ rates up to fresh multi-year highs as well, with more upside pressure likely today
7th Jul 23, 7:49am
Very strong US ADP payrolls and stronger ISM services report keep alive the probability of further Fed hikes; bond market selloff extends. NZ rates up to fresh multi-year highs as well, with more upside pressure likely today
US Treasuries curve steepens, led by the long end; US 10-year rate up 8bps to a fresh three-month high. NZ rates higher as investors make way for new bond supply; demand solid for syndicated tap of 2033s, despite deteriorating fiscal accounts
6th Jul 23, 7:52am
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US Treasuries curve steepens, led by the long end; US 10-year rate up 8bps to a fresh three-month high. NZ rates higher as investors make way for new bond supply; demand solid for syndicated tap of 2033s, despite deteriorating fiscal accounts
NZD/AUD pushes higher as RBA opts for a pause in the tightening cycle. Market ignored NZ QSBO which was a very monetary policy-friendly report, with significant easing in capacity pressures
5th Jul 23, 7:50am
NZD/AUD pushes higher as RBA opts for a pause in the tightening cycle. Market ignored NZ QSBO which was a very monetary policy-friendly report, with significant easing in capacity pressures
US ISM manufacturing survey soft, consistent with recession in the sector. But US equities and US Treasury yields push higher in a holiday-shortened session. NZ QSBO today and a finely balanced RBA policy decision
4th Jul 23, 7:59am
US ISM manufacturing survey soft, consistent with recession in the sector. But US equities and US Treasury yields push higher in a holiday-shortened session. NZ QSBO today and a finely balanced RBA policy decision
PBoC and BoJ step up verbal intervention to control their depreciating currencies. Softer US consumer spending and PCE deflators support US Treasuries and US equities but drive the USD lower
3rd Jul 23, 7:43am
PBoC and BoJ step up verbal intervention to control their depreciating currencies. Softer US consumer spending and PCE deflators support US Treasuries and US equities but drive the USD lower
US initial jobless claims fall, Q1 GDP revised up, so run of positive US economic surprises continues. US rates much higher across the board. Projected Fed hikes seen more likely. US equities unperturbed. NZ business confidence improves further
30th Jun 23, 8:20am
US initial jobless claims fall, Q1 GDP revised up, so run of positive US economic surprises continues. US rates much higher across the board. Projected Fed hikes seen more likely. US equities unperturbed. NZ business confidence improves further
Fed, ECB, BoE heads reiterate hawkish views. BoJ reiterates dovish stance. US Treasury yields down 4-5bps regardless. NZ swap rates dragged down by Australian rates
29th Jun 23, 8:09am
Fed, ECB, BoE heads reiterate hawkish views. BoJ reiterates dovish stance. US Treasury yields down 4-5bps regardless. NZ swap rates dragged down by Australian rates
US economic data beats expectations across durable goods, consumer confidence and new home sales. US equities and Treasury yields higher post-data. PBoC shows increasing discomfort about recent weakness in the Yuan
28th Jun 23, 8:02am
US economic data beats expectations across durable goods, consumer confidence and new home sales. US equities and Treasury yields higher post-data. PBoC shows increasing discomfort about recent weakness in the Yuan
Yuan weaker despite PBoC signaling discomfort with rate of depreciation. AUD falls with it. No market fallout from the weekend Russian rebellion. Global equities modestly weaker, global rates slightly lower
27th Jun 23, 8:05am
Yuan weaker despite PBoC signaling discomfort with rate of depreciation. AUD falls with it. No market fallout from the weekend Russian rebellion. Global equities modestly weaker, global rates slightly lower
Global equity markets fell on Friday contributing to the largest weekly pullback since the US regional banking crisis began in March amid concerns about the growth outlook. Advance PMIs for June suggest that the Eurozone economy has slowed sharply
26th Jun 23, 7:32am
Global equity markets fell on Friday contributing to the largest weekly pullback since the US regional banking crisis began in March amid concerns about the growth outlook. Advance PMIs for June suggest that the Eurozone economy has slowed sharply
US initial jobless claims sustain recent move higher. US equities unperturbed by higher rates, with small to modest increases. Both BoE and Norges Bank upscale hikes to 50bps
23rd Jun 23, 8:05am
US initial jobless claims sustain recent move higher. US equities unperturbed by higher rates, with small to modest increases. Both BoE and Norges Bank upscale hikes to 50bps
Federal Chair Powell said policymakers expect interest rates will need to move higher to slow down growth and contain price pressures. Markets are pricing about a 75% chance of a 25bps rate hike at the July meeting. UK inflation continues to run hot
22nd Jun 23, 7:57am
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Federal Chair Powell said policymakers expect interest rates will need to move higher to slow down growth and contain price pressures. Markets are pricing about a 75% chance of a 25bps rate hike at the July meeting. UK inflation continues to run hot
Risk sentiment soft again. Rates much lower across the UK, Europe, supporting lower US Treasury yields despite US housing starts unexpectedly surging 21.7% in May
21st Jun 23, 8:01am
Risk sentiment soft again. Rates much lower across the UK, Europe, supporting lower US Treasury yields despite US housing starts unexpectedly surging 21.7% in May
Negative market sentiment prevails over China; weaker yuan drags NZD and AUD lower; NZD goes sub-62 USc. European rates higher, more so for UK than Euro area; NZ-UK 10 year rate spread goes negative
20th Jun 23, 7:45am
Negative market sentiment prevails over China; weaker yuan drags NZD and AUD lower; NZD goes sub-62 USc. European rates higher, more so for UK than Euro area; NZ-UK 10 year rate spread goes negative
The Yen fell on the Bank of Japan decision to leave monetary policy settings unchanged. EUR/JPY and NZD/JPY make multi-year highs. US consumer sentiment rose more than expected. Five-to-10-year inflation expectations dipped to 3.0%
19th Jun 23, 7:25am
The Yen fell on the Bank of Japan decision to leave monetary policy settings unchanged. EUR/JPY and NZD/JPY make multi-year highs. US consumer sentiment rose more than expected. Five-to-10-year inflation expectations dipped to 3.0%
Soft US data support lower Treasury yields; plays to market disbelief of Fed's projection for more rate hikes. But US equities power on up. ECB hikes 25bps, revises up inflation forecasts, gives hawkish guidance; another hike in July "very likely"
16th Jun 23, 7:50am
Soft US data support lower Treasury yields; plays to market disbelief of Fed's projection for more rate hikes. But US equities power on up. ECB hikes 25bps, revises up inflation forecasts, gives hawkish guidance; another hike in July "very likely"
Fed pauses rate hike cycle as expected but projections show, surprisingly, two more hikes this year. US PPI data points to moderating inflation data. Treasuries curve flattens
15th Jun 23, 7:56am
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Fed pauses rate hike cycle as expected but projections show, surprisingly, two more hikes this year. US PPI data points to moderating inflation data. Treasuries curve flattens
US CPI figures broadly as expected; annual headline and core figures both clearly heading lower. Paves the way for Fed to skip hike tomorrow, but core not weak enough to quash chance of a future hike. Treasury yields higher across the curve
14th Jun 23, 7:55am
US CPI figures broadly as expected; annual headline and core figures both clearly heading lower. Paves the way for Fed to skip hike tomorrow, but core not weak enough to quash chance of a future hike. Treasury yields higher across the curve
US equities push higher, US Treasuries curve steepens a little. NZD down slightly, AUD up slightly, GBP underperforms
13th Jun 23, 7:52am
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US equities push higher, US Treasuries curve steepens a little. NZD down slightly, AUD up slightly, GBP underperforms
US equities edge higher in quiet markets. Traded volumes were the lowest since October last year. US Treasury yields higher with yield curve continuing recent flattening trend
12th Jun 23, 7:22am
US equities edge higher in quiet markets. Traded volumes were the lowest since October last year. US Treasury yields higher with yield curve continuing recent flattening trend
US initial jobless claims show a solid increase to 261,000, further confirmation of an easing in labour market pressures. This drove US Treasury yields and USD lower. Support for bonds also came from lower oil prices on reports of US-Iran nuclear talks
9th Jun 23, 7:58am
US initial jobless claims show a solid increase to 261,000, further confirmation of an easing in labour market pressures. This drove US Treasury yields and USD lower. Support for bonds also came from lower oil prices on reports of US-Iran nuclear talks
Bank of Canada surprises market with a 25bps hike, a move that spilled over into global rates and equity markets. US 10-year rate up 12bps for the day. Global forces lift NZ rates with more significant price action expected today
8th Jun 23, 8:08am
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Bank of Canada surprises market with a 25bps hike, a move that spilled over into global rates and equity markets. US 10-year rate up 12bps for the day. Global forces lift NZ rates with more significant price action expected today