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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
NZD and AUD performance held back overnight by weak yuan on speculation of further policy easing to support China's economy. US Treasury rates flat to slightly higher. NZ rates play catch-up after long weekend
7th Jun 23, 7:56am
NZD and AUD performance held back overnight by weak yuan on speculation of further policy easing to support China's economy. US Treasury rates flat to slightly higher. NZ rates play catch-up after long weekend
US payrolls data easily beat expectations which provided upward momentum for stocks and higher US Treasury yields. Services ISM unexpectedly fell to 50.3 from 51.9 in April with the prices, new orders and employment subcomponents all falling
6th Jun 23, 7:50am
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US payrolls data easily beat expectations which provided upward momentum for stocks and higher US Treasury yields. Services ISM unexpectedly fell to 50.3 from 51.9 in April with the prices, new orders and employment subcomponents all falling
Higher Caixin China PMI, lower Euro area inflation, soft ISM manufacturing report with lower prices paid, strong ADP employment with lower wage inflation, all deliver positive risk sentiment after US gets debt deal done
2nd Jun 23, 8:00am
Higher Caixin China PMI, lower Euro area inflation, soft ISM manufacturing report with lower prices paid, strong ADP employment with lower wage inflation, all deliver positive risk sentiment after US gets debt deal done
Mixed US JOLTS report, with more job openings but lower quits rate; Weak Chicago PMI. These forces drive US Treasury yields lower again. Softer than expected China PMI data weighs on the market
1st Jun 23, 8:08am
Mixed US JOLTS report, with more job openings but lower quits rate; Weak Chicago PMI. These forces drive US Treasury yields lower again. Softer than expected China PMI data weighs on the market
US Treasury yields down 9-11 bps following debt ceiling agreement. Weaker US consumer confidence and labour market data and soft Euro area CPI data support the move. Weaker commodity prices not helping NZD, oil down over 4%
31st May 23, 8:00am
US Treasury yields down 9-11 bps following debt ceiling agreement. Weaker US consumer confidence and labour market data and soft Euro area CPI data support the move. Weaker commodity prices not helping NZD, oil down over 4%
Small market movements following the weekend US debt ceiling agreement. US equity futures up 0.3%; Treasury futures little changed, AUD slightly higher
30th May 23, 8:06am
Small market movements following the weekend US debt ceiling agreement. US equity futures up 0.3%; Treasury futures little changed, AUD slightly higher
US agreement in principle to increase the US Debt ceiling and US personal consumption and PCE higher than expected sees USD higher. Asian policymakers scramble to support their currencies
29th May 23, 7:47am
US agreement in principle to increase the US Debt ceiling and US personal consumption and PCE higher than expected sees USD higher. Asian policymakers scramble to support their currencies
Global rates much higher as the market prices in additional tightening from the Fed, ECB and BoE. US 2-year rate up for the tenth day running. Mixed economic data; Germany officially in recession, US GDP revised slightly higher
26th May 23, 7:55am
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Global rates much higher as the market prices in additional tightening from the Fed, ECB and BoE. US 2-year rate up for the tenth day running. Mixed economic data; Germany officially in recession, US GDP revised slightly higher
Little progress on US debt ceiling negotiations. A number of China concerns in the spotlight, and a big upside miss for UK CPI inflation. AUD hits a fresh low for the year but NZD/AUD still down 1.3% to 93.3 AUc
25th May 23, 8:19am
Little progress on US debt ceiling negotiations. A number of China concerns in the spotlight, and a big upside miss for UK CPI inflation. AUD hits a fresh low for the year but NZD/AUD still down 1.3% to 93.3 AUc
Weaker risk appetite as unresolved debt ceiling negotiations hog the headlines. Equities lower, modest changes in Treasuries, USD broadly stronger; NZD and AUD underperform
24th May 23, 7:48am
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Weaker risk appetite as unresolved debt ceiling negotiations hog the headlines. Equities lower, modest changes in Treasuries, USD broadly stronger; NZD and AUD underperform
The two sides still far apart as the US debt X-date approaches. Modest market movements in a quiet start to the week; US Treasury yields push higher; US equities push higher. NZD tracks sideways
23rd May 23, 8:11am
The two sides still far apart as the US debt X-date approaches. Modest market movements in a quiet start to the week; US Treasury yields push higher; US equities push higher. NZD tracks sideways
Comments by Federal Reserve Chair Jerome Powell appeared to support a pause at the June FOMC. US treasury yields and US Dollar move lower following Powell’s comments
22nd May 23, 8:21am
Comments by Federal Reserve Chair Jerome Powell appeared to support a pause at the June FOMC. US treasury yields and US Dollar move lower following Powell’s comments
US Treasury yields higher after more positive vibes on US debt ceiling negotiations, a drop in initial jobless claims. NZ Budget conveys picture of loose fiscal policy, with large cash deficit, rising debt levels. S&P fires warning shot on credit rating
19th May 23, 8:03am
US Treasury yields higher after more positive vibes on US debt ceiling negotiations, a drop in initial jobless claims. NZ Budget conveys picture of loose fiscal policy, with large cash deficit, rising debt levels. S&P fires warning shot on credit rating