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Jason Wong

About

Jason Wong is BNZ’s currency strategist, producing analysis that informs the NZD view. He is also a part of National Australia Bank’s (NAB) Global FX Strategy team, which covers currency markets more broadly, with a focus on the G10 currencies.

Member for

6 years 5 months

Latest articles

Weaker US consumer confidence rocks US equities. US Treasury yields little changed. European rates higher on tough talking ECB
29th Jun 22, 7:57am
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Weaker US consumer confidence rocks US equities. US Treasury yields little changed. European rates higher on tough talking ECB
Global rates reverse course and head higher again; UST yields up 6-8bps. NZ rates fall playing catch-up to global moves at the end of last week
28th Jun 22, 7:56am
Global rates reverse course and head higher again; UST yields up 6-8bps. NZ rates fall playing catch-up to global moves at the end of last week
Risk sentiment improves with less policy tightening priced into curves; S&P500 up over 3% on Friday. Data on PMIs and US inflation expectations drive global rates lower; NZ rates market to play catch-up after Friday holiday
27th Jun 22, 7:50am
Risk sentiment improves with less policy tightening priced into curves; S&P500 up over 3% on Friday. Data on PMIs and US inflation expectations drive global rates lower; NZ rates market to play catch-up after Friday holiday
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
Strong bounce-back in US equities after the US public holiday, with S&P 500 up 2.5%; global rates push higher
22nd Jun 22, 7:59am
Strong bounce-back in US equities after the US public holiday, with S&P 500 up 2.5%; global rates push higher
Risk appetite slightly higher, with global equities and rates higher. Bullard sees inflation fight winnable without recession. Quiet trading in financial markets with the US public holiday
21st Jun 22, 7:50am
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Risk appetite slightly higher, with global equities and rates higher. Bullard sees inflation fight winnable without recession. Quiet trading in financial markets with the US public holiday
Modest changes in US equities and USTs on Friday, but caps off a wild week in markets. Oil prices tumble 5-7%, commodities market generally weaker in the face of rising global recession risk. AUD under pressure
20th Jun 22, 7:52am
Modest changes in US equities and USTs on Friday, but caps off a wild week in markets. Oil prices tumble 5-7%, commodities market generally weaker in the face of rising global recession risk. AUD under pressure
Surprise 50bps hike by the Swiss National Bank. US economic dataflow much weaker than expected. USD tumbles as recession fears trump safe-haven bid, amid chunky falls in equity markets
17th Jun 22, 7:57am
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Surprise 50bps hike by the Swiss National Bank. US economic dataflow much weaker than expected. USD tumbles as recession fears trump safe-haven bid, amid chunky falls in equity markets
Market prices in more aggressive Fed tightening, 75bps this week and a likely follow-up move next month. US Treasury yields continue rise across the curve; 10-year rate approaching 3.5%
15th Jun 22, 7:59am
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Market prices in more aggressive Fed tightening, 75bps this week and a likely follow-up move next month. US Treasury yields continue rise across the curve; 10-year rate approaching 3.5%
Markets in turmoil; US equities down 3%; USTs up about 20bps across the curve. As inflation fears increase and market prices in much more aggressive tightening. UK has recession on its doorstep and possible trade war with EU
14th Jun 22, 8:07am
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Markets in turmoil; US equities down 3%; USTs up about 20bps across the curve. As inflation fears increase and market prices in much more aggressive tightening. UK has recession on its doorstep and possible trade war with EU
Strong US CPI inflation data destroys the inflation-has-peaked narrative. Stagflation in focus as US consumer sentiment falls to a record low as well and long-term inflation expectations rise
13th Jun 22, 7:31am
Strong US CPI inflation data destroys the inflation-has-peaked narrative. Stagflation in focus as US consumer sentiment falls to a record low as well and long-term inflation expectations rise
ECB offers a hawkish policy update; guides a 25bps hike in July and 50bps in September. Commodity currencies whacked on weaker risk sentiment. NZ 10 year NZGB closes at a 7-year high
10th Jun 22, 7:57am
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ECB offers a hawkish policy update; guides a 25bps hike in July and 50bps in September. Commodity currencies whacked on weaker risk sentiment. NZ 10 year NZGB closes at a 7-year high
USD shows meaningful broad-based weakness; NZD and AUD outperform. Oil prices rise despite OPEC+ agreeing to ramp up production schedule; Copper up over 5%. Soft US ADP payrolls; Fed's Brainard hawkish, hoses down talk of a September pause
3rd Jun 22, 7:46am
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USD shows meaningful broad-based weakness; NZD and AUD outperform. Oil prices rise despite OPEC+ agreeing to ramp up production schedule; Copper up over 5%. Soft US ADP payrolls; Fed's Brainard hawkish, hoses down talk of a September pause
Euro area inflation hits record high; European rates continue to push higher. Higher rates backdrop leads to cautious tone in equity markets. NZ business survey highlights stagflationary fears
1st Jun 22, 7:56am
Euro area inflation hits record high; European rates continue to push higher. Higher rates backdrop leads to cautious tone in equity markets. NZ business survey highlights stagflationary fears
Strength of Germany CPI shocks the market. European rates higher; EUR higher; US on holiday, but futures point to 5bps lift in 10-year rate
31st May 22, 7:58am
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Strength of Germany CPI shocks the market. European rates higher; EUR higher; US on holiday, but futures point to 5bps lift in 10-year rate
US equities up over 2% on positive retailers' earnings reports, but no risk-on vibe though for bonds and currencies. NZ 2s10s swap curve goes negative, a leading indicator of economic recession
27th May 22, 7:57am
US equities up over 2% on positive retailers' earnings reports, but no risk-on vibe though for bonds and currencies. NZ 2s10s swap curve goes negative, a leading indicator of economic recession
Weaker earnings backdrop and growth outlook concerns weigh on markets. Equity markets weaker; global rates lower. RBNZ MPS today, another "dovish" 50bps hike likely
25th May 22, 7:51am
Weaker earnings backdrop and growth outlook concerns weigh on markets. Equity markets weaker; global rates lower. RBNZ MPS today, another "dovish" 50bps hike likely
Risk sentiment improves with no obvious triggers. Strong gains in equity markets; global rates higher. Mixed news from China. ECB provides clear rate hike guidance for Q3
24th May 22, 8:01am
Risk sentiment improves with no obvious triggers. Strong gains in equity markets; global rates higher. Mixed news from China. ECB provides clear rate hike guidance for Q3
USD significantly weaker as US economic growth concerns supersede safe-haven status. Risk appetite remains weak. NZ Budget doesn't perturb financial markets
20th May 22, 7:51am
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USD significantly weaker as US economic growth concerns supersede safe-haven status. Risk appetite remains weak. NZ Budget doesn't perturb financial markets
US equities plunge on weak retailer earning reports; S&P500 down 4%. Market waking up to the damage that high inflation can inflict. NZ Budget today; expecting looser fiscal policy and increased bond tender program
19th May 22, 7:57am
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US equities plunge on weak retailer earning reports; S&P500 down 4%. Market waking up to the damage that high inflation can inflict. NZ Budget today; expecting looser fiscal policy and increased bond tender program
Risk sentiment recovers on positive US economic data and easing of Shanghai restrictions. Global rates up across the board, with come chunky gains across Europe
18th May 22, 7:46am
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Risk sentiment recovers on positive US economic data and easing of Shanghai restrictions. Global rates up across the board, with come chunky gains across Europe
Risk appetite weaker on poor China economic data but a recovery has ensued. US equities now modestly higher after earlier weakness in futures markets. Global food price inflation rising
17th May 22, 7:52am
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Risk appetite weaker on poor China economic data but a recovery has ensued. US equities now modestly higher after earlier weakness in futures markets. Global food price inflation rising
US CPI inflation stronger than expected, generating some market volatility resulting in lower US equity markets, flatter US yield curve. Brexit risks re-emerge
12th May 22, 7:56am
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US CPI inflation stronger than expected, generating some market volatility resulting in lower US equity markets, flatter US yield curve. Brexit risks re-emerge
Thursday breakfast briefing: US Fed hikes, eyes quantitative tightening from June, EU to ban Russian crude oil
5th May 22, 7:30am
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Thursday breakfast briefing: US Fed hikes, eyes quantitative tightening from June, EU to ban Russian crude oil
Wednesday breakfast briefing: Reserve Bank of Australia rate hike sees NZ dollar drop, dairy prices tumble, equity markets remain choppy
4th May 22, 7:25am
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Wednesday breakfast briefing: Reserve Bank of Australia rate hike sees NZ dollar drop, dairy prices tumble, equity markets remain choppy