Jason Wong

Risk sentiment has weakened with only bad news from the Middle East conflict and the Strait of Hormuz remaining effectively closed. Oil prices higher, US equities weaker, US rates higher and the USD is broadly stronger

Risk sentiment has weakened with only bad news from the Middle East conflict and the Strait of Hormuz remaining effectively closed. Oil prices higher, US equities weaker, US rates higher and the USD is broadly stronger

Oil pushes higher as the markets await fresh developments in the Mid-East, after the lack of peace talks and an extension of the ceasefire. US equities stronger, ignoring the doomsday scenario of a prolonged disruption of oil supply

Oil pushes higher as the markets await fresh developments in the Mid-East, after the lack of peace talks and an extension of the ceasefire. US equities stronger, ignoring the doomsday scenario of a prolonged disruption of oil supply

Risk sentiment weaker with doubt over US-Iran peace talks. Brent crude close to USD100. US and European equities weaker. Global rates higher, with 'strong' US retail sales adding to upside pressure on US Treasury yields

Risk sentiment weaker with doubt over US-Iran peace talks. Brent crude close to USD100. US and European equities weaker. Global rates higher, with 'strong' US retail sales adding to upside pressure on US Treasury yields

Market reaction well-contained even with rising tensions in the US-Iran conflict. Strait of Hormuz to remain closed until a peace deal is signed. US equities show modest fall, little change in US Treasuries and currencies

Market reaction well-contained even with rising tensions in the US-Iran conflict. Strait of Hormuz to remain closed until a peace deal is signed. US equities show modest fall, little change in US Treasuries and currencies

Friday headlines drove investors into believing the US-Iran conflict is nearing an end (spoiler: the Strait of Hormuz is not open.) Currency market not sucked into the rhetoric. USD weakness reverses

Friday headlines drove investors into believing the US-Iran conflict is nearing an end (spoiler: the Strait of Hormuz is not open.) Currency market not sucked into the rhetoric. USD weakness reverses

US-Iran two-week ceasefire holding and Trump says no need to extend it as he predicts a resolution 'fairly soon'. Market trading more cautiously; Brent crude back up near US$100 per barrel; US rates push higher

US-Iran two-week ceasefire holding and Trump says no need to extend it as he predicts a resolution 'fairly soon'. Market trading more cautiously; Brent crude back up near US$100 per barrel; US rates push higher

Risk sentiment higher as investors see light at the end of the tunnel, even if uncertainty remains. NZ rates higher with further follow-through post the RBNZ hawkish-tinged update

Risk sentiment higher as investors see light at the end of the tunnel, even if uncertainty remains. NZ rates higher with further follow-through post the RBNZ hawkish-tinged update

Markets embrace US-Iran two-week ceasefire deal, even though it appears shaky. Bombing continues and Strait of Hormuz remains effectively closed. Additional support for NZD following more hawkish tone adopted by the RBNZ

Markets embrace US-Iran two-week ceasefire deal, even though it appears shaky. Bombing continues and Strait of Hormuz remains effectively closed. Additional support for NZD following more hawkish tone adopted by the RBNZ

After a horrid March, risk sentiment is ending the month on a more positive note, on hope that the war can end soon. But on the battleground nothing much has changed. US equities surge, global rates lower, oil lower

After a horrid March, risk sentiment is ending the month on a more positive note, on hope that the war can end soon. But on the battleground nothing much has changed. US equities surge, global rates lower, oil lower

Iran conflict developments haven't improved, with Trump repeating his threat to obliterate Iranian infrastructure unless the Strait of Hormuz is reopened. Market further unwinds Fed hike bets; Chair Powell reiterates policy on hold

Iran conflict developments haven't improved, with Trump repeating his threat to obliterate Iranian infrastructure unless the Strait of Hormuz is reopened. Market further unwinds Fed hike bets; Chair Powell reiterates policy on hold

Risk sentiment weaker, as investors lose hope of resolution to the Iran conflict which continues unabated as Brent crude probes US$109 level. Global equities weaker and global rates higher. Norway's central bank pivots

Risk sentiment weaker, as investors lose hope of resolution to the Iran conflict which continues unabated as Brent crude probes US$109 level. Global equities weaker and global rates higher. Norway's central bank pivots

News coming out of the Middle East still seems to be mostly bad. US equities are weaker, US rates are higher and the NZD has fallen. Oil price rising

News coming out of the Middle East still seems to be mostly bad. US equities are weaker, US rates are higher and the NZD has fallen. Oil price rising

Big turnaround in markets after Trump backs down. Whatever the truth over competing claims, equities bounce back, global rates fall, oil tumbles

Big turnaround in markets after Trump backs down. Whatever the truth over competing claims, equities bounce back, global rates fall, oil tumbles

Risk sentiment soured Friday night, as investors factored in a more prolonged conflict in the Middle East. US 10-year rate up 13bps; market now factoring in chance of Fed hiking this year. Domestic rates surge, with more upward pressure today

Risk sentiment soured Friday night, as investors factored in a more prolonged conflict in the Middle East. US 10-year rate up 13bps; market now factoring in chance of Fed hiking this year. Domestic rates surge, with more upward pressure today

Markets calm overnight, as prior day's lift in risk appetite is sustained. Oil prices range bound. RBA hikes 25bps to 4.1% and Governor Bullock gives a hawkish update

Markets calm overnight, as prior day's lift in risk appetite is sustained. Oil prices range bound. RBA hikes 25bps to 4.1% and Governor Bullock gives a hawkish update

Risk appetite is higher on optimism that the worst is over in the Iran conflict, while the reality is that nothing much has changed on the battleground. Brent crude falls to just over US$100/bbl. IEA says more emergency oil stocks available if required

Risk appetite is higher on optimism that the worst is over in the Iran conflict, while the reality is that nothing much has changed on the battleground. Brent crude falls to just over US$100/bbl. IEA says more emergency oil stocks available if required

The IEA agreed to release 400m barrels from strategic oil reserves; small mercies whilst the Strait of Hormuz effectively remains closed; Brent crude trading near top of daily range. US CPI data in line, but US Treasury yields show steady grind higher

The IEA agreed to release 400m barrels from strategic oil reserves; small mercies whilst the Strait of Hormuz effectively remains closed; Brent crude trading near top of daily range. US CPI data in line, but US Treasury yields show steady grind higher

Risk sentiment has improved further following the tumble in oil prices, taking Brent crude to USD86 per barrel US Treasury yields show only small movement while European rates have played catch-up and are much lower

Risk sentiment has improved further following the tumble in oil prices, taking Brent crude to USD86 per barrel US Treasury yields show only small movement while European rates have played catch-up and are much lower

Risk sentiment improves considerably, with markets eyeing potential release of strategic oil reserves. US equities weaker, US treasury yields steadily fall overnight

Risk sentiment improves considerably, with markets eyeing potential release of strategic oil reserves. US equities weaker, US treasury yields steadily fall overnight

There is no sign of an end to the conflict in the Middle East; if anything, the conflict has extended across the region. Risk sentiment has soured. US Treasury yields push higher for a fourth consecutive day

There is no sign of an end to the conflict in the Middle East; if anything, the conflict has extended across the region. Risk sentiment has soured. US Treasury yields push higher for a fourth consecutive day

After initial caution, investors are take pessimistic view of the Mid-East conflict seeing less chance of a quick resolution. Global equities tumble; US Treasury yields a little higher while European rates are much higher on inflation concerns

After initial caution, investors are take pessimistic view of the Mid-East conflict seeing less chance of a quick resolution. Global equities tumble; US Treasury yields a little higher while European rates are much higher on inflation concerns

Market focus on Middle East. Brent crude up 6%. Gas prices surge. Equity markets mostly weaker, but US equities recover from initial hit. Initial safe haven bid for bonds quickly fades as inflation concerns dominate. USD broadly stronger

Market focus on Middle East. Brent crude up 6%. Gas prices surge. Equity markets mostly weaker, but US equities recover from initial hit. Initial safe haven bid for bonds quickly fades as inflation concerns dominate. USD broadly stronger

Negative risk vibe overnight. Weaker tech stocks drag down US equities despite strong Nvidia result. US Treasuries supported. Oil prices higher on war risk

Negative risk vibe overnight. Weaker tech stocks drag down US equities despite strong Nvidia result. US Treasuries supported. Oil prices higher on war risk

US 10% global tariff comes into effect; no sign yet of the threatened higher 15% rate. US equities have recovered some of yesterday’s losses. Global rates have shown only minor movements

US 10% global tariff comes into effect; no sign yet of the threatened higher 15% rate. US equities have recovered some of yesterday’s losses. Global rates have shown only minor movements

Risk sentiment weaker as markets digest the implications of the latest saga on Trump’s tariff policy. US equities down over 1%, with rotation towards defensive sector; US Treasury yields down 4-8bps Safe haven CHF and JPY currencies have outperformed

Risk sentiment weaker as markets digest the implications of the latest saga on Trump’s tariff policy. US equities down over 1%, with rotation towards defensive sector; US Treasury yields down 4-8bps Safe haven CHF and JPY currencies have outperformed