Yuan
Risk appetite recovered on Friday, seeing US banking stocks bounce higher and strong gains in US equities. US employment report mixed although still consistent with a tight labour market
8th May 23, 7:52am
Risk appetite recovered on Friday, seeing US banking stocks bounce higher and strong gains in US equities. US employment report mixed although still consistent with a tight labour market
More US bank casualties in the spotlight driving Banks down and weaker US equities overall, adds to the case of Fed being done with the hiking cycle. Market has increased conviction that the Fed will be forced into easing in second half. Curve steepens
5th May 23, 8:11am
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More US bank casualties in the spotlight driving Banks down and weaker US equities overall, adds to the case of Fed being done with the hiking cycle. Market has increased conviction that the Fed will be forced into easing in second half. Curve steepens
Fed hikes 25bps as expected; softens forward guidance on future tightening. Modest market reaction; market sees Fed done after 500bps of hikes. USD broadly weaker and US Treasury yields slightly lower
4th May 23, 7:46am
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Fed hikes 25bps as expected; softens forward guidance on future tightening. Modest market reaction; market sees Fed done after 500bps of hikes. USD broadly weaker and US Treasury yields slightly lower
US regional banking worries return, US labour market cooling. Oil prices slump circa 5% on global growth concerns, softer data. Eyes on NZ FSR, Q1 labour market today, ahead of Fed tomorrow morning
3rd May 23, 8:08am
US regional banking worries return, US labour market cooling. Oil prices slump circa 5% on global growth concerns, softer data. Eyes on NZ FSR, Q1 labour market today, ahead of Fed tomorrow morning
Little fallout by another US major bank failure. US Treasury rates up 12-15bps; reverses Friday's move; ISM report slightly stronger than expected. Indigestion from significant corporate debt issuance ahead of Fed this week
2nd May 23, 7:57am
Little fallout by another US major bank failure. US Treasury rates up 12-15bps; reverses Friday's move; ISM report slightly stronger than expected. Indigestion from significant corporate debt issuance ahead of Fed this week
Softer than expected German CPI, GDP and Euro area GDP data drive German Bunds down 14-15bps. This supported US Treasuries, with US 10-year rate down 10bps to 3.42%. JGBs rally
1st May 23, 7:25am
Softer than expected German CPI, GDP and Euro area GDP data drive German Bunds down 14-15bps. This supported US Treasuries, with US 10-year rate down 10bps to 3.42%. JGBs rally
Global rates lower after their recent rise; Treasury yields down 5-7bps, German 10-year rate falls for first time in over two weeks. Second-tier US economic data paint softer economic picture and lower oil prices support the move
21st Apr 23, 7:47am
Global rates lower after their recent rise; Treasury yields down 5-7bps, German 10-year rate falls for first time in over two weeks. Second-tier US economic data paint softer economic picture and lower oil prices support the move
Currency markets well-contained; NZD continues to hover around 62 USc, ahead of important Q1 CPI data today. US equities flat again; VIX down to fresh lows. UK CPI inflation remains in double-digits
20th Apr 23, 7:52am
Currency markets well-contained; NZD continues to hover around 62 USc, ahead of important Q1 CPI data today. US equities flat again; VIX down to fresh lows. UK CPI inflation remains in double-digits
US equities flat and little change in US Treasuries, despite plethora of data and earnings. USD broadly weaker, reversing some of prior day's strength; NZD back just over 62 USc and little change on the crosses
19th Apr 23, 7:51am
US equities flat and little change in US Treasuries, despite plethora of data and earnings. USD broadly weaker, reversing some of prior day's strength; NZD back just over 62 USc and little change on the crosses
US Treasury yields continue to push higher on less concern about banking sector and stronger data - Empire manufacturing survey much stronger than expected. NZGBs outperform
18th Apr 23, 7:52am
US Treasury yields continue to push higher on less concern about banking sector and stronger data - Empire manufacturing survey much stronger than expected. NZGBs outperform
US core retail sales not as weak as expected; 1 yr-ahead inflation expectations surge to 4.6%; Fed's Waller urges more tightening. USD rebounds on all that; US Treasury yields higher led by the front end
17th Apr 23, 7:40am
US core retail sales not as weak as expected; 1 yr-ahead inflation expectations surge to 4.6%; Fed's Waller urges more tightening. USD rebounds on all that; US Treasury yields higher led by the front end
Weaker US PPI inflation, higher jobless claims play to theme of weaker US economy and moderating inflation pressures, adding in expectations of just one more Fed rate hike, USD remains under pressure; US Treasury yields slightly higher
14th Apr 23, 7:47am
Weaker US PPI inflation, higher jobless claims play to theme of weaker US economy and moderating inflation pressures, adding in expectations of just one more Fed rate hike, USD remains under pressure; US Treasury yields slightly higher
US CPI rises just 0.1% m/m; core up 0.4% - strong enough to maintain expectations for another likely Fed hike next month. US Treasury yields fall post CPI but then reverses much of that price action
13th Apr 23, 7:50am
US CPI rises just 0.1% m/m; core up 0.4% - strong enough to maintain expectations for another likely Fed hike next month. US Treasury yields fall post CPI but then reverses much of that price action
US Treasury yields push higher, ahead of key CPI data tonight. IMF downgrades forecasts. China credit growth strong
12th Apr 23, 7:49am
US Treasury yields push higher, ahead of key CPI data tonight. IMF downgrades forecasts. China credit growth strong
US Treasury yields higher after solid non-farm payrolls report; other labour market data show clearer weaker trends. USD broadly stronger. NZD re-tests sub-0.62 level
11th Apr 23, 7:56am
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US Treasury yields higher after solid non-farm payrolls report; other labour market data show clearer weaker trends. USD broadly stronger. NZD re-tests sub-0.62 level
Weaker US ADP employment and services ISM data push US Treasury yields lower. RBNZ shocks with a 50bps hike. NZ curve flattens; market sees a good chance of easier policy in the second half, when the economy is likely to be deeper in recession
6th Apr 23, 7:58am
Weaker US ADP employment and services ISM data push US Treasury yields lower. RBNZ shocks with a 50bps hike. NZ curve flattens; market sees a good chance of easier policy in the second half, when the economy is likely to be deeper in recession
US JOLTS labour market report shows much weaker demand for labour - US Treasury yields down 6-12bps, equities weaker, USD weaker. RBA opts for a pause
5th Apr 23, 8:04am
US JOLTS labour market report shows much weaker demand for labour - US Treasury yields down 6-12bps, equities weaker, USD weaker. RBA opts for a pause
Higher oil prices drive global rates higher but reversal follows after weak US ISM manufacturing report; net change in yields is lower. NZ QSBO today; RBA meeting with consensus tilted towards a pause, market more convicted in that call than economists
4th Apr 23, 7:51am
Higher oil prices drive global rates higher but reversal follows after weak US ISM manufacturing report; net change in yields is lower. NZ QSBO today; RBA meeting with consensus tilted towards a pause, market more convicted in that call than economists
Weaker than expected US core PCE deflator drives US Treasuries down 8-11bps. Spillover to European yields. Banks borrow less in aggregate from the Fed, further sign that the most acute phase of liquidity crisis is over
3rd Apr 23, 7:46am
Weaker than expected US core PCE deflator drives US Treasuries down 8-11bps. Spillover to European yields. Banks borrow less in aggregate from the Fed, further sign that the most acute phase of liquidity crisis is over
Market conditions calm (again); equities push higher, US Treasuries well contained. German inflation falls but core inflation in Euro area too strong for comfort
31st Mar 23, 7:53am
Market conditions calm (again); equities push higher, US Treasuries well contained. German inflation falls but core inflation in Euro area too strong for comfort
Risk sentiment improves on much calmer markets and some positive indicators. Global rates movements contained
30th Mar 23, 8:05am
Risk sentiment improves on much calmer markets and some positive indicators. Global rates movements contained
Markets calm compared to recent weeks. Global rates push higher. US equities push lower. 'No news' is not bad news
29th Mar 23, 7:51am
Markets calm compared to recent weeks. Global rates push higher. US equities push lower. 'No news' is not bad news
Improved confidence drives global rates significantly higher; US 2-year rate back at 4%; front-end led curve flattening. And there were some modest gains in equities despite big lift in rates
28th Mar 23, 7:54am
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Improved confidence drives global rates significantly higher; US 2-year rate back at 4%; front-end led curve flattening. And there were some modest gains in equities despite big lift in rates
Deutsche Bank comes under speculative selling pressure on Friday; weighs down European equities and euro. Authorities continue to convey confidence in the resilience of the US banking system; US equities show modest gains
27th Mar 23, 7:44am
Deutsche Bank comes under speculative selling pressure on Friday; weighs down European equities and euro. Authorities continue to convey confidence in the resilience of the US banking system; US equities show modest gains
Risk recovers a touch; US equities higher after yesterday's late dip. BoE hikes 25bps; SNB hikes 50bps. US rates settle lower post Fed; US10s around 3.44%
24th Mar 23, 8:11am
Risk recovers a touch; US equities higher after yesterday's late dip. BoE hikes 25bps; SNB hikes 50bps. US rates settle lower post Fed; US10s around 3.44%