US Fed
Canada hikes +50 bps and signals near end of tightening cycle. European data better than expected, supporting EUR. US dollar broadly weaker
8th Dec 22, 7:53am
Canada hikes +50 bps and signals near end of tightening cycle. European data better than expected, supporting EUR. US dollar broadly weaker
US rates higher ahead of Powell, equities slightly lower. Optimism around an eventual end to the China zero-Covid policy continues to grow
1st Dec 22, 7:31am
US rates higher ahead of Powell, equities slightly lower. Optimism around an eventual end to the China zero-Covid policy continues to grow
Market more sensitive to weaker than stronger data releases. Softer US PMIs and higher jobless claims push US rates and USD lower. NZ rates curve much higher and flatter on hawkish RBNZ signals
24th Nov 22, 7:41am
1
Market more sensitive to weaker than stronger data releases. Softer US PMIs and higher jobless claims push US rates and USD lower. NZ rates curve much higher and flatter on hawkish RBNZ signals
Currencies little changed, consolidating after their recent big moves. UST 10-year rate continues to grind lower and 2y10y yield curve reaches its most inverted level since early 1980s, warning of recession next year
17th Nov 22, 7:59am
Currencies little changed, consolidating after their recent big moves. UST 10-year rate continues to grind lower and 2y10y yield curve reaches its most inverted level since early 1980s, warning of recession next year
US Treasury yields slightly lower ahead of key US CPI report tonight. Cryptocurrency meltdown adds to negative risk sentiment. US election outcome won't be known for weeks
10th Nov 22, 7:34am
US Treasury yields slightly lower ahead of key US CPI report tonight. Cryptocurrency meltdown adds to negative risk sentiment. US election outcome won't be known for weeks
Fed hikes 75bps but statement consistent with a dovish pivot. NZ labour market very tight, encouraging market to think of a 75bps RBNZ hike later this month
3rd Nov 22, 8:03am
2
Fed hikes 75bps but statement consistent with a dovish pivot. NZ labour market very tight, encouraging market to think of a 75bps RBNZ hike later this month
Global rates continue to fall away as monetary policy tightening expectations fade. But higher Australian CPI sees economists scrambling to revise rate projections up but market already there
27th Oct 22, 8:01am
Global rates continue to fall away as monetary policy tightening expectations fade. But higher Australian CPI sees economists scrambling to revise rate projections up but market already there
Relentless rise in global rates continues against a backdrop of higher inflation concerns. US 2 and 10-year rates up 11bps; NZ rates much higher as market prices in a much more aggressive tightening cycle
20th Oct 22, 7:55am
2
Relentless rise in global rates continues against a backdrop of higher inflation concerns. US 2 and 10-year rates up 11bps; NZ rates much higher as market prices in a much more aggressive tightening cycle
Market focus remains on the UK. BoE's Bailey talks tough publicly, not so much privately, causing some market volatility. Media reports that the UK government will U-turn on its fiscal proposals
13th Oct 22, 7:55am
3
Market focus remains on the UK. BoE's Bailey talks tough publicly, not so much privately, causing some market volatility. Media reports that the UK government will U-turn on its fiscal proposals
Stronger ISM Services index drives a big lift in global rates and the USD. US 10-year back above 3.75%, EUR back below 0.99. OPEC+ announced 2m barrels per day reduction to oil supply quotas
6th Oct 22, 7:56am
3
Stronger ISM Services index drives a big lift in global rates and the USD. US 10-year back above 3.75%, EUR back below 0.99. OPEC+ announced 2m barrels per day reduction to oil supply quotas
Bank of England intervenes in the UK Gilts market to restore market order. This triggers a significant massive reaction and risk appetite recovers
29th Sep 22, 8:06am
3
Bank of England intervenes in the UK Gilts market to restore market order. This triggers a significant massive reaction and risk appetite recovers
Fed hikes cash rate by 75bps, as widely expected. Updated 'dot plot' show +125bps of hikes over remaining two meetings this year. USD stronger on the day, although off its intraday highs as risk appetite rebounds
22nd Sep 22, 7:50am
5
Fed hikes cash rate by 75bps, as widely expected. Updated 'dot plot' show +125bps of hikes over remaining two meetings this year. USD stronger on the day, although off its intraday highs as risk appetite rebounds
Markets consolidate following their big moves after the US CPI surprise. JPY the big mover in currency markets, up around 1% as Japan steps up its warnings of FX intervention
15th Sep 22, 7:49am
1
Markets consolidate following their big moves after the US CPI surprise. JPY the big mover in currency markets, up around 1% as Japan steps up its warnings of FX intervention
USD strength yesterday sees many new FX milestones but a reversal overnight on higher risk appetite also notable. Oil down over 5% to 7-month low
8th Sep 22, 7:51am
4
USD strength yesterday sees many new FX milestones but a reversal overnight on higher risk appetite also notable. Oil down over 5% to 7-month low
No fireworks at month-end, just more of the same. Equity markets push lower, global rates push higher, ending horror month for bond investors
1st Sep 22, 7:53am
1
No fireworks at month-end, just more of the same. Equity markets push lower, global rates push higher, ending horror month for bond investors
Global rates continue to push higher. European gas prices continue to surge. Higher inflation backdrop sees market pricing in more aggressive rate hikes from ECB, BoE
25th Aug 22, 7:57am
4
Global rates continue to push higher. European gas prices continue to surge. Higher inflation backdrop sees market pricing in more aggressive rate hikes from ECB, BoE
UK CPI inflation cracks 10% - sparking a big sell-off in global bonds. Higher rates weigh on equities and boost the USD. FOMC minutes highlight some concern around the risk of the Fed overtightening
18th Aug 22, 7:49am
UK CPI inflation cracks 10% - sparking a big sell-off in global bonds. Higher rates weigh on equities and boost the USD. FOMC minutes highlight some concern around the risk of the Fed overtightening
US CPI for July much lower than expected; headline inflation past the peak. Modest net reaction in rates market, after earlier plunge in yields, but equities and currencies sustain strong reactions
11th Aug 22, 7:52am
2
US CPI for July much lower than expected; headline inflation past the peak. Modest net reaction in rates market, after earlier plunge in yields, but equities and currencies sustain strong reactions
Risk appetite higher - Pelosi leaves Taiwan, good US earnings reports and US ISM services index shows a surprising lift. US Treasuries curve inverts further, supported by more hawkish Fed-speak
4th Aug 22, 7:57am
2
Risk appetite higher - Pelosi leaves Taiwan, good US earnings reports and US ISM services index shows a surprising lift. US Treasuries curve inverts further, supported by more hawkish Fed-speak
Fed hikes by 75bps but Chair Powell not as hawkish as feared. Dotplot showing 100bps over remaining 3 meetings this year. US equities extend rally, US Treasury rates fall, USD weakens as Powell speaks
28th Jul 22, 7:46am
10
Fed hikes by 75bps but Chair Powell not as hawkish as feared. Dotplot showing 100bps over remaining 3 meetings this year. US equities extend rally, US Treasury rates fall, USD weakens as Powell speaks
US equities push higher again while US 10-year pushes up above 3%. Putin says EU gas flows will restart at 20% capacity
21st Jul 22, 7:57am
US equities push higher again while US 10-year pushes up above 3%. Putin says EU gas flows will restart at 20% capacity
Oh dear, another US CPI inflation shocker. Market brings a 100bps hike into play for late July. BoC doesn't mess about and surprises with a 100bps hike. Significant US Treasuries curve flattening, signaling recession
14th Jul 22, 8:07am
3
Oh dear, another US CPI inflation shocker. Market brings a 100bps hike into play for late July. BoC doesn't mess about and surprises with a 100bps hike. Significant US Treasuries curve flattening, signaling recession
Market sentiment stabilises on better-than-expected US Services survey. US Treasury yields rebounds. FOMC minutes raise possibility of an "even more restrictive stance" of policy if inflation remains high
7th Jul 22, 7:53am
Market sentiment stabilises on better-than-expected US Services survey. US Treasury yields rebounds. FOMC minutes raise possibility of an "even more restrictive stance" of policy if inflation remains high
Global yields decline, led by Europe, post ECB forum. German annual inflation eases, Spain hits 10%. US dollar firmer; EUR, commodity currencies underperform
30th Jun 22, 7:55am
Global yields decline, led by Europe, post ECB forum. German annual inflation eases, Spain hits 10%. US dollar firmer; EUR, commodity currencies underperform
Risk appetite appears weaker on increasing global recession fears. Chunky falls in global rates, commodities broadly weaker and NZD and AUD underperform
23rd Jun 22, 7:52am
Risk appetite appears weaker on increasing global recession fears. Chunky falls in global rates, commodities broadly weaker and NZD and AUD underperform