Jason Wong

Global equities higher, although US 10-year rate also higher; USD broadly weaker. Lower European gas prices. Hopes that US CPI tonight is another soft print

Global equities higher, although US 10-year rate also higher; USD broadly weaker. Lower European gas prices. Hopes that US CPI tonight is another soft print

USD flat Friday night after a notable lurch down during Asian trading. Risk appetite improves. Hawkish Fed-speak all but seals 75bps hike at next FOMC meeting, drives 2-year rate to fresh 15-year high

USD flat Friday night after a notable lurch down during Asian trading. Risk appetite improves. Hawkish Fed-speak all but seals 75bps hike at next FOMC meeting, drives 2-year rate to fresh 15-year high

ECB hikes 75bps, indicates further hikes "over the next several meetings". Fed Chair Powell says we need to act as "strongly as we have been doing". Another 75bps hike later this month looks a done deal. Global rates continue to rise

ECB hikes 75bps, indicates further hikes "over the next several meetings". Fed Chair Powell says we need to act as "strongly as we have been doing". Another 75bps hike later this month looks a done deal. Global rates continue to rise

USD strength yesterday sees many new FX milestones but a reversal overnight on higher risk appetite also notable. Oil down over 5% to 7-month low

USD strength yesterday sees many new FX milestones but a reversal overnight on higher risk appetite also notable. Oil down over 5% to 7-month low

No fireworks at month-end, just more of the same. Equity markets push lower, global rates push higher, ending horror month for bond investors

No fireworks at month-end, just more of the same. Equity markets push lower, global rates push higher, ending horror month for bond investors

Good news on US labour market and consumer confidence means bad news for US Treasuries and equities. EUR supported by hawkish ECB rhetoric and another decent fall in gas prices. PBoC tries to stem depreciation of the yuan

Good news on US labour market and consumer confidence means bad news for US Treasuries and equities. EUR supported by hawkish ECB rhetoric and another decent fall in gas prices. PBoC tries to stem depreciation of the yuan

A nervous start to the week, but risk sentiment improves overnight. EU looking to regulate gas market; prices plunge nearly 20%

A nervous start to the week, but risk sentiment improves overnight. EU looking to regulate gas market; prices plunge nearly 20%

Global rates continue to push higher. European gas prices continue to surge. Higher inflation backdrop sees market pricing in more aggressive rate hikes from ECB, BoE

Global rates continue to push higher. European gas prices continue to surge. Higher inflation backdrop sees market pricing in more aggressive rate hikes from ECB, BoE

Another round of weaker US data - services PMI shows another steep drop; new home sales plunge further. Brent crude hits USD100 per barrel in further upside on fear of Saudi Arabia production cut

Another round of weaker US data - services PMI shows another steep drop; new home sales plunge further. Brent crude hits USD100 per barrel in further upside on fear of Saudi Arabia production cut

Week begins with a hit to risk appetite. But no safety from bonds as global rates rise. UK inflation projected by Citigroup to hit 18.6% on surging energy costs

Week begins with a hit to risk appetite. But no safety from bonds as global rates rise. UK inflation projected by Citigroup to hit 18.6% on surging energy costs

Mixed US economic data. Fed speakers out in force running the same lines on policy rates and inflation. Oil prices recover some lost ground; EU gas prices up to fresh record high

Mixed US economic data. Fed speakers out in force running the same lines on policy rates and inflation. Oil prices recover some lost ground; EU gas prices up to fresh record high

Walmart and Home Depot earnings reports help support risk sentiment. But mixed US data, with a plunge in housing starts and stronger industrial production. Global rates higher, reversing previous day's fall

Walmart and Home Depot earnings reports help support risk sentiment. But mixed US data, with a plunge in housing starts and stronger industrial production. Global rates higher, reversing previous day's fall

Weaker Chinese economic data and surprise PBoC rate cut drive a weaker yuan. NZD and AUD are collateral damage. Much weaker US second-tier data. Global rates fall; oil prices down

Weaker Chinese economic data and surprise PBoC rate cut drive a weaker yuan. NZD and AUD are collateral damage. Much weaker US second-tier data. Global rates fall; oil prices down

US CPI for July much lower than expected; headline inflation past the peak. Modest net reaction in rates market, after earlier plunge in yields, but equities and currencies sustain strong reactions

US CPI for July much lower than expected; headline inflation past the peak. Modest net reaction in rates market, after earlier plunge in yields, but equities and currencies sustain strong reactions

Higher US Treasury rates and further curve flattening, driving the 2s10s spread deeper into negative territory. Market nerves ahead of key US CPI data tonight

Higher US Treasury rates and further curve flattening, driving the 2s10s spread deeper into negative territory. Market nerves ahead of key US CPI data tonight

Some reversal of Friday's price action, with US Treasury yields lower and USD lower. Further inversion of US 2s10s curve signaling recession ahead, but US equities unfazed

Some reversal of Friday's price action, with US Treasury yields lower and USD lower. Further inversion of US 2s10s curve signaling recession ahead, but US equities unfazed

Risk appetite higher - Pelosi leaves Taiwan, good US earnings reports and US ISM services index shows a surprising lift. US Treasuries curve inverts further, supported by more hawkish Fed-speak

Risk appetite higher - Pelosi leaves Taiwan, good US earnings reports and US ISM services index shows a surprising lift. US Treasuries curve inverts further, supported by more hawkish Fed-speak

Fed speakers stick to the party line on much more policy work to do to reduce inflation. Market wakes up and drives US rates a lot higher, up 17-23bps across much of the curve. Higher rates drive USD higher

Fed speakers stick to the party line on much more policy work to do to reduce inflation. Market wakes up and drives US rates a lot higher, up 17-23bps across much of the curve. Higher rates drive USD higher

US ISM manufacturing weaker, but not as weak as feared; Still, components are consistent with a developing economic recession. As a further indicator of recession, US 2s10s fall deeper into negative territory, now minus 30bps

US ISM manufacturing weaker, but not as weak as feared; Still, components are consistent with a developing economic recession. As a further indicator of recession, US 2s10s fall deeper into negative territory, now minus 30bps

Fed hikes by 75bps but Chair Powell not as hawkish as feared. Dotplot showing 100bps over remaining 3 meetings this year. US equities extend rally, US Treasury rates fall, USD weakens as Powell speaks

Fed hikes by 75bps but Chair Powell not as hawkish as feared. Dotplot showing 100bps over remaining 3 meetings this year. US equities extend rally, US Treasury rates fall, USD weakens as Powell speaks

Negative economic news flow continues with weaker US data and IMF global growth outlook downgrade. EU agrees to cut gas consumption by 15%; gas prices surge again

Negative economic news flow continues with weaker US data and IMF global growth outlook downgrade. EU agrees to cut gas consumption by 15%; gas prices surge again

Gasprom to cut Nordstream gas supply to 20% of capacity from Wednesday. EUR unperturbed and weak Germany business confidence data has little impact as well. US Treasury yields higher, reversing some of Friday's fall

Gasprom to cut Nordstream gas supply to 20% of capacity from Wednesday. EUR unperturbed and weak Germany business confidence data has little impact as well. US Treasury yields higher, reversing some of Friday's fall

US market pares back rate hike expectations after Fed-speak on preference for "only" a 75bps hike later this month; curve unwinds some of yesterday's flattening

US market pares back rate hike expectations after Fed-speak on preference for "only" a 75bps hike later this month; curve unwinds some of yesterday's flattening

Oh dear, another US CPI inflation shocker. Market brings a 100bps hike into play for late July. BoC doesn't mess about and surprises with a 100bps hike. Significant US Treasuries curve flattening, signaling recession

Oh dear, another US CPI inflation shocker. Market brings a 100bps hike into play for late July. BoC doesn't mess about and surprises with a 100bps hike. Significant US Treasuries curve flattening, signaling recession

Oil down -7% on global recession fears. German rates tumble on recession fears. USD strength reverses course overnight; EUR comes within a whisker of parity before recovering

Oil down -7% on global recession fears. German rates tumble on recession fears. USD strength reverses course overnight; EUR comes within a whisker of parity before recovering