Currencies
Roger J Kerr traces the US Government shifts from intervening to supporting the yen to intervening to support their own bond market
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Roger J Kerr traces the US Government shifts from intervening to supporting the yen to intervening to support their own bond market
PMIs pointed to resilient activity, with stronger US services and an improved Eurozone manufacturing signal supporting risk sentiment. Precious metals extended recent gains, while Brent crude reached a one-month high
PMIs pointed to resilient activity, with stronger US services and an improved Eurozone manufacturing signal supporting risk sentiment. Precious metals extended recent gains, while Brent crude reached a one-month high
Harold James explains what is really driving the Trump Administration's currency and bond-market interventions
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Harold James explains what is really driving the Trump Administration's currency and bond-market interventions
US Treasury yields rebounded, led by the long end, as investors looked through Treasury buyback plans. Oil rose to its highest level in almost a month
US Treasury yields rebounded, led by the long end, as investors looked through Treasury buyback plans. Oil rose to its highest level in almost a month
Reports that the US Treasury plans to increase longer-dated buybacks contributed to a sharp fall in 30-year yields. The US dollar fell to its lowest level since May
Reports that the US Treasury plans to increase longer-dated buybacks contributed to a sharp fall in 30-year yields. The US dollar fell to its lowest level since May
Global long-term rates reach fresh multi-decade highs; US 30-year rate reaches 5.34% but then retraces. Global equity markets weighed by rates backdrop. Brent crude steady around USD91 per barrel. Trump admits there are no talks to resolve the stalemate
Global long-term rates reach fresh multi-decade highs; US 30-year rate reaches 5.34% but then retraces. Global equity markets weighed by rates backdrop. Brent crude steady around USD91 per barrel. Trump admits there are no talks to resolve the stalemate
Oil prices are higher after Iranian TV confirmed the seizure of an oil tanker in the Strait of Hormuz. Global bond markets continue to trade heavily, with long-end rates in the US, Germany and Japan reaching fresh multi-decade highs
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Oil prices are higher after Iranian TV confirmed the seizure of an oil tanker in the Strait of Hormuz. Global bond markets continue to trade heavily, with long-end rates in the US, Germany and Japan reaching fresh multi-decade highs
Roger J Kerr does a stocktake of New Zealand’s current economic fundamentals. He also sees US economic results consistently below forecasts that were overly optimistic
Roger J Kerr does a stocktake of New Zealand’s current economic fundamentals. He also sees US economic results consistently below forecasts that were overly optimistic
US retail sales and consumer sentiment were weaker than expected. The post-data US Treasury rally reversed, with 10-year yields ending near 4.70%. Long ends of European curves come under pressure
US retail sales and consumer sentiment were weaker than expected. The post-data US Treasury rally reversed, with 10-year yields ending near 4.70%. Long ends of European curves come under pressure
Jeffrey Frankel advises the US not to squander what remains of its influence by demanding foreign-exchange interventions
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Jeffrey Frankel advises the US not to squander what remains of its influence by demanding foreign-exchange interventions
Benign US PPI data supported lower US rates and helped US equities reach a fresh record high; market now pricing just 23 bps of Fed hikes this year. No breaking news on the Middle East, but oil prices lower
Benign US PPI data supported lower US rates and helped US equities reach a fresh record high; market now pricing just 23 bps of Fed hikes this year. No breaking news on the Middle East, but oil prices lower
US CPI figures for July bang in line with consensus, no smoking gun for Fed September rate hike. Currencies well contained, although some NZD underperformance evident following failed leadership coup
US CPI figures for July bang in line with consensus, no smoking gun for Fed September rate hike. Currencies well contained, although some NZD underperformance evident following failed leadership coup
Mixed headlines on the Middle East; oil up over 1%. US Treasuries little changed just under 4.7% ahead of key US CPI data tonight. RBA on hold with tightening bias as expected; net market reaction not material
Mixed headlines on the Middle East; oil up over 1%. US Treasuries little changed just under 4.7% ahead of key US CPI data tonight. RBA on hold with tightening bias as expected; net market reaction not material
Regarding a deal to reopen the Strait of Hormuz, no news is bad news; oil prices up for a fourth consecutive day, driving up global rates. Yen weakening further as the effect of US intervention continues to fade
Regarding a deal to reopen the Strait of Hormuz, no news is bad news; oil prices up for a fourth consecutive day, driving up global rates. Yen weakening further as the effect of US intervention continues to fade
Roger J Kerr sees an inevitable reset in US interest rates, a NZD that is turning positive, and he reviews the prospects for the Aussie dollar
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Roger J Kerr sees an inevitable reset in US interest rates, a NZD that is turning positive, and he reviews the prospects for the Aussie dollar