Jason Wong

Powell's hawkish post-FOMC comments reverberate across markets. USD shows broadly based strength, sending NZD below 0.66 to fresh 15-month lows. Higher NZ rates in the face of strong inflation provide no offset to that force

Powell's hawkish post-FOMC comments reverberate across markets. USD shows broadly based strength, sending NZD below 0.66 to fresh 15-month lows. Higher NZ rates in the face of strong inflation provide no offset to that force

Ahead of the US Fed, the Bank of Canada delivers a hawkish hold signaling higher rates from here. Eyes on NZ CPI

Ahead of the US Fed, the Bank of Canada delivers a hawkish hold signaling higher rates from here. Eyes on NZ CPI

Volatility in equity markets continues. S&P500 down 2% after late 4% rally from its low yesterday. US 10-year rate shows little net movement

Volatility in equity markets continues. S&P500 down 2% after late 4% rally from its low yesterday. US 10-year rate shows little net movement

Europe prepares for Russian invasion of Ukraine. Risk appetite takes a hit. Big slump in global equities. Modest rally in global bonds

Europe prepares for Russian invasion of Ukraine. Risk appetite takes a hit. Big slump in global equities. Modest rally in global bonds

Risk appetite recovers overnight, global equities higher. AUD outperforms following another strong labour market report

Risk appetite recovers overnight, global equities higher. AUD outperforms following another strong labour market report

Omicron fears and likely death of US spending bill drag global equity markets much lower. US 10-year rate down a touch, below 1.40%

Omicron fears and likely death of US spending bill drag global equity markets much lower. US 10-year rate down a touch, below 1.40%

Markets expect another incrementally hawkish tilt from US Fed. US equities lower for third day running, US rates steady

Markets expect another incrementally hawkish tilt from US Fed. US equities lower for third day running, US rates steady

US PPI inflation surges, adding to inflation angst. US equities seemingly more nervous than rates market, ahead of FOMC update tomorrow

US PPI inflation surges, adding to inflation angst. US equities seemingly more nervous than rates market, ahead of FOMC update tomorrow

Risk sentiment weaker to start the new week, ahead of busy event calendar, not helped by negative Omicron headlines and surging European gas prices

Risk sentiment weaker to start the new week, ahead of busy event calendar, not helped by negative Omicron headlines and surging European gas prices

NZD and AUD recover further, supported by better sentiment on China driving yuan strength. Bank of Canada doesn't sanction early rate hike expectations built into market pricing. Global rates push higher; US curve steepens

NZD and AUD recover further, supported by better sentiment on China driving yuan strength. Bank of Canada doesn't sanction early rate hike expectations built into market pricing. Global rates push higher; US curve steepens

Omicron fears continue to recede, driving risk sentiment higher. US rates higher with more curve flattening

Omicron fears continue to recede, driving risk sentiment higher. US rates higher with more curve flattening

Risk appetite improves on Omicron optimism and China policy easing. US equities, UST yields, oil prices all higher

Risk appetite improves on Omicron optimism and China policy easing. US equities, UST yields, oil prices all higher

Whippy market backdrop continues, with recovery in global equities. US ADP employment and ISM manufacturing in line; US Treasury rates push up a little

Whippy market backdrop continues, with recovery in global equities. US ADP employment and ISM manufacturing in line; US Treasury rates push up a little

Markets volatile, VIX index up to 28, decent flattening in US Treasuries curve. Fed Chair Powell alludes to greater inflationary pressure and argues for a faster taper

Markets volatile, VIX index up to 28, decent flattening in US Treasuries curve. Fed Chair Powell alludes to greater inflationary pressure and argues for a faster taper

US equities recover some of Friday's losses; US 10-year rate pushes higher. But an unconvincing bounce-back as investors adopt a cautious tone until we get more clarity on Omicron. Germany CPI inflation hits 6% but no support for EUR

US equities recover some of Friday's losses; US 10-year rate pushes higher. But an unconvincing bounce-back as investors adopt a cautious tone until we get more clarity on Omicron. Germany CPI inflation hits 6% but no support for EUR

US data releases continue to positively surprise. Another US FOMC member on verge of joining "faster taper" camp. US short rates higher and USD up to fresh 16-month high

US data releases continue to positively surprise. Another US FOMC member on verge of joining "faster taper" camp. US short rates higher and USD up to fresh 16-month high

Global rates push higher on hawkish central bank talk and better European PMIs. NZD continues to languish, ahead of RBNZ MPS today. A 25bps hike today is the better bet; mortgage rates already up in the order of 175bps

Global rates push higher on hawkish central bank talk and better European PMIs. NZD continues to languish, ahead of RBNZ MPS today. A 25bps hike today is the better bet; mortgage rates already up in the order of 175bps

Powell to be re-appointed as Fed Chair, Brainard elevated to vice-Chair. Announcement supports US equities, higher US rates and stronger USD

Powell to be re-appointed as Fed Chair, Brainard elevated to vice-Chair. Announcement supports US equities, higher US rates and stronger USD

GBP outperforms following yet another positive inflation surprise. NZD consolidates around 0.70; AUD on the soft side following no smoking gun in wage data. UST yields nudge lower

GBP outperforms following yet another positive inflation surprise. NZD consolidates around 0.70; AUD on the soft side following no smoking gun in wage data. UST yields nudge lower

A trio of strong US data and strong UK labour market data. USD and GBP notably stronger on the back of that; Only muted reaction in rates market; UST yields barely higher

A trio of strong US data and strong UK labour market data. USD and GBP notably stronger on the back of that; Only muted reaction in rates market; UST yields barely higher

Global rates higher across the board; US break-even inflation rates at fresh highs. Surprisingly positive Chinese economic data and hawkish central bank commentary. Commodity currencies slightly outperform

Global rates higher across the board; US break-even inflation rates at fresh highs. Surprisingly positive Chinese economic data and hawkish central bank commentary. Commodity currencies slightly outperform

US CPI inflation surges to a 30-year high driving US rates higher across the curve and spilling over into other markets. USD stronger

US CPI inflation surges to a 30-year high driving US rates higher across the curve and spilling over into other markets. USD stronger

Risk appetite deteriorates without any obvious trigger. US equities down from record highs, global bonds rally

Risk appetite deteriorates without any obvious trigger. US equities down from record highs, global bonds rally

US Treasuries reverse some of Friday's rally. European gas prices higher after no sign of Russia helping with increased supply

US Treasuries reverse some of Friday's rally. European gas prices higher after no sign of Russia helping with increased supply

US Fed tapers asset purchases as expected by -US$15 bln per month and shows less confidence that elevated inflation will be transitory. Market pricing well contained

US Fed tapers asset purchases as expected by -US$15 bln per month and shows less confidence that elevated inflation will be transitory. Market pricing well contained