Jason Wong

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

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

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

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%

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

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

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

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

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

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

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

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

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

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

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

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

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

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

US CPI inflation stronger than expected, generating some market volatility resulting in lower US equity markets, flatter US yield curve. Brexit risks re-emerge

Fears of front-loaded US tightening cycle and China lockdowns drive risk appetite lower. Much lower US rates since Friday's NZ close

Fears of front-loaded US tightening cycle and China lockdowns drive risk appetite lower. Much lower US rates since Friday's NZ close

Global bond yields rise significantly again, following hawkish ECB commentary. US 5-year rate cracks 3%. NZ CPI inflation "only" 6.9%, but core measures show further upward momentum in Q1

Global bond yields rise significantly again, following hawkish ECB commentary. US 5-year rate cracks 3%. NZ CPI inflation "only" 6.9%, but core measures show further upward momentum in Q1

Bond yields continue their relentless rise. US 10-year rate hits 2.79%; NZ 10-year NZGB rate closes above 3.5% for first time since 2015. Risk appetite weaker as China COVID outbreak spreads, leading to more restrictions

Bond yields continue their relentless rise. US 10-year rate hits 2.79%; NZ 10-year NZGB rate closes above 3.5% for first time since 2015. Risk appetite weaker as China COVID outbreak spreads, leading to more restrictions

Global rates push higher on Friday to fresh multi-year highs. USD hits highest level in nearly two years. Big week ahead, with RBNZ, Bank of Canada and ECB meetings; US CPI to hit fresh multi-decade high

Global rates push higher on Friday to fresh multi-year highs. USD hits highest level in nearly two years. Big week ahead, with RBNZ, Bank of Canada and ECB meetings; US CPI to hit fresh multi-decade high