Yen
Treasury yields fell led by the front end. The US dollar index extended its recent decline reaching new lows for the year. US payroll growth in the year to March was revised down. FOMC minutes pointed to a September rate cut
22nd Aug 24, 7:47am
Treasury yields fell led by the front end. The US dollar index extended its recent decline reaching new lows for the year. US payroll growth in the year to March was revised down. FOMC minutes pointed to a September rate cut
US Treasury yields are down 5-6bps, supported by benign Canadian CPI data. The USD is again broadly weaker, taking the DXY index down to fresh lows for the year; the yen is the strongest of the majors
21st Aug 24, 7:46am
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US Treasury yields are down 5-6bps, supported by benign Canadian CPI data. The USD is again broadly weaker, taking the DXY index down to fresh lows for the year; the yen is the strongest of the majors
Fed speakers give the green light to a rate cut next month. Global equity markets rise. Eyes turn to Jackson Hole speakers
20th Aug 24, 7:35am
Fed speakers give the green light to a rate cut next month. Global equity markets rise. Eyes turn to Jackson Hole speakers
Roger J Kerr says the RBNZ claim of victory over inflation may be premature
Global asset markets subdued, but S&P500 rose for a seventh straight day, up +4% for the week. Gold rises to frest all-time high
19th Aug 24, 7:18am
Global asset markets subdued, but S&P500 rose for a seventh straight day, up +4% for the week. Gold rises to frest all-time high
Stronger than expected US retail sales and jobless claims data helped dispel concerns about the US economic slowdown and sent equities and bond yields higher
16th Aug 24, 7:43am
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Stronger than expected US retail sales and jobless claims data helped dispel concerns about the US economic slowdown and sent equities and bond yields higher
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
Roger J Kerr believes the likely outcome of this week's Official Cash Rate review is that Reserve Bank Governor Adrian Orr 'will keep the markets guessing for a while longer'
12th Aug 24, 8:33am
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Roger J Kerr believes the likely outcome of this week's Official Cash Rate review is that Reserve Bank Governor Adrian Orr 'will keep the markets guessing for a while longer'
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
Roger J Kerr says the full extent of the USD depreciation has not (yet) been reflected in the NZD/USD exchange rate
5th Aug 24, 8:44am
Roger J Kerr says the full extent of the USD depreciation has not (yet) been reflected in the NZD/USD exchange rate
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
Roger J Kerr says the Yen carry-trade unwinding may have run its course, meaning expectation is the Kiwi and Australian dollars should stabilise and reverse back upwards over coming weeks
29th Jul 24, 8:46am
Roger J Kerr says the Yen carry-trade unwinding may have run its course, meaning expectation is the Kiwi and Australian dollars should stabilise and reverse back upwards over coming weeks
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
