Jason Wong

Modest movements in equities, bonds and currency markets; NZD is hovering near the 0.65 mark, while the AUD has slipped overnight to 0.6850; US 10-year Treasury rate has traded a 2.075-2.115% range

Modest movements in equities, bonds and currency markets; NZD is hovering near the 0.65 mark, while the AUD has slipped overnight to 0.6850; US 10-year Treasury rate has traded a 2.075-2.115% range

NZD underperformed and rounded out a bad week; USD was boosted by strong retail sales data; moderate expectations for Fed rate cuts saw curve flattening, alongside a record low in long-term inflation expectations

NZD underperformed and rounded out a bad week; USD was boosted by strong retail sales data; moderate expectations for Fed rate cuts saw curve flattening, alongside a record low in long-term inflation expectations

Prospects that the US economy was heading for recession may trigger the Fed to reverse its previous rate hikes; US equities rose, rates fell and the USD remained under pressure; NZD was one of the better performers

Prospects that the US economy was heading for recession may trigger the Fed to reverse its previous rate hikes; US equities rose, rates fell and the USD remained under pressure; NZD was one of the better performers

US equities rise for their third consecutive day; USD is on the soft side, with EUR leading the way after the ECB didn’t meet the uber-dovish expectations of the market; bond yields have only shown small movements

US equities rise for their third consecutive day; USD is on the soft side, with EUR leading the way after the ECB didn’t meet the uber-dovish expectations of the market; bond yields have only shown small movements

US equities continue to recover after last month’s swoon while US Treasury yields are little changed; USD is recovering some of the losses seen over recent days but the NZD has managed to hold its ground

US equities continue to recover after last month’s swoon while US Treasury yields are little changed; USD is recovering some of the losses seen over recent days but the NZD has managed to hold its ground

US equities have recovered strongly and US rates have jumped higher, reversing some recent price action while the USD dollar remains under pressure; NZD is up to around the 0.6620 mark

US equities have recovered strongly and US rates have jumped higher, reversing some recent price action while the USD dollar remains under pressure; NZD is up to around the 0.6620 mark

Bottom line is that downward pressure remains on global equity markets, global rates and the USD; heavily-shorted EUR is outperforming, up 0.7% to 1.1250; global growth concerns remain forefront

Bottom line is that downward pressure remains on global equity markets, global rates and the USD; heavily-shorted EUR is outperforming, up 0.7% to 1.1250; global growth concerns remain forefront

Market nervous about US-China trade talks; equities and bond yields are lower but the USD is also under a little bit of pressure and shows broadly based losses; NZD recovering towards 0.66 and the AUD towards 0.70

Market nervous about US-China trade talks; equities and bond yields are lower but the USD is also under a little bit of pressure and shows broadly based losses; NZD recovering towards 0.66 and the AUD towards 0.70

US equities modestly positive and US rates slightly higher; NZD has only sustained a small fall after the RBNZ cut rates yesterday; GBP remains soft as hopes for a Brexit deal fade

US equities modestly positive and US rates slightly higher; NZD has only sustained a small fall after the RBNZ cut rates yesterday; GBP remains soft as hopes for a Brexit deal fade

Belated slump in US equities, while US Treasury rates are pushing lower; JPY and the USD are well supported in this environment; NZD slipped below 0.66 overnight while the AUD shredded its post-RBA gains

Belated slump in US equities, while US Treasury rates are pushing lower; JPY and the USD are well supported in this environment; NZD slipped below 0.66 overnight while the AUD shredded its post-RBA gains

Markets opened the week suffering under the weight of President Trump’s early Monday morning tweet; NZD has settled this morning around 0.6610; NZ rates pushed lower yesterday

Markets opened the week suffering under the weight of President Trump’s early Monday morning tweet; NZD has settled this morning around 0.6610; NZ rates pushed lower yesterday

Good US jobs report overshadowed by US:China trade negotiation 'surprise'. NZD may come under pressure. Market positioning suggests RBNZ rate cut more likely

Good US jobs report overshadowed by US:China trade negotiation 'surprise'. NZD may come under pressure. Market positioning suggests RBNZ rate cut more likely

Yesterday’s fall in US equities, and rise in US rates and USD after Fed Chair Powell uttered the words low inflation may be “transitory” has carried through into another trading session; NZD currently sits at 0.6620

Yesterday’s fall in US equities, and rise in US rates and USD after Fed Chair Powell uttered the words low inflation may be “transitory” has carried through into another trading session; NZD currently sits at 0.6620

NZD has solidified the loss seen post the NZ labour market data yesterday; FOMC statement had no surprises; US rates were lower but have bounced back up

NZD has solidified the loss seen post the NZ labour market data yesterday; FOMC statement had no surprises; US rates were lower but have bounced back up

Net result is a flat US equity market and softer USD across the board, with GBP outperforming; US rates have pushed lower; CAD has performed well despite Canada GDP growth

Net result is a flat US equity market and softer USD across the board, with GBP outperforming; US rates have pushed lower; CAD has performed well despite Canada GDP growth

Modest price action in currency markets, while US rates have pushed higher; US and China trade negotiators will be back at the table this week; NZ swap rates had an upward bias yesterday

Modest price action in currency markets, while US rates have pushed higher; US and China trade negotiators will be back at the table this week; NZ swap rates had an upward bias yesterday

NZD ended the week on a positive note, alongside other commodity currencies, helped along by an underwhelming US GDP report that also saw US treasury yields retreat

NZD ended the week on a positive note, alongside other commodity currencies, helped along by an underwhelming US GDP report that also saw US treasury yields retreat

USD remains well bid, although the NZD is trying to recover after reaching a fresh year-to date low on ANZAC Day; US 10-year Treasury yields have nudged higher overnight but are still lower than when we left the office on Wednesday

USD remains well bid, although the NZD is trying to recover after reaching a fresh year-to date low on ANZAC Day; US 10-year Treasury yields have nudged higher overnight but are still lower than when we left the office on Wednesday

USD has shown broadly based gains, seeing it make a fresh high for the year, while the NZD makes a low; that’s against a backdrop of stronger equity markets; meanwhile in bond markets, European rates are higher, while US Treasury rates are slightly lower

USD has shown broadly based gains, seeing it make a fresh high for the year, while the NZD makes a low; that’s against a backdrop of stronger equity markets; meanwhile in bond markets, European rates are higher, while US Treasury rates are slightly lower

NZD and AUD fell late on Thursday and have sustained those losses; main price action to speak of is a strong gain in crude oil prices; higher oil prices have given a little boost to the US 10-year Treasury rate

NZD and AUD fell late on Thursday and have sustained those losses; main price action to speak of is a strong gain in crude oil prices; higher oil prices have given a little boost to the US 10-year Treasury rate

Little pulse across global equities and bond markets; currency markets have showed little movement overnight, while the NZD remains at the bottom of the pack after yesterday’s downside miss to the CPI

Little pulse across global equities and bond markets; currency markets have showed little movement overnight, while the NZD remains at the bottom of the pack after yesterday’s downside miss to the CPI

US Treasury rates continue to trend higher and the 10-year rate is now back to levels preceding the last Fed meeting; AUD has recovered yesterday’s losses to trade flat, while the NZD remains flat

US Treasury rates continue to trend higher and the 10-year rate is now back to levels preceding the last Fed meeting; AUD has recovered yesterday’s losses to trade flat, while the NZD remains flat

US equities have spent much of the session in negative territory and are currently slightly lower, US Treasuries have traded in a narrow range and the NZD and AUD are little changed from where they began the week

US equities have spent much of the session in negative territory and are currently slightly lower, US Treasuries have traded in a narrow range and the NZD and AUD are little changed from where they began the week

Commodity currencies outperform, alongside higher global equities and rates; the whole of last week was “low vol” for the NZD; AUD slightly outperformed the NZD

Commodity currencies outperform, alongside higher global equities and rates; the whole of last week was “low vol” for the NZD; AUD slightly outperformed the NZD

Within the mix of little overall price action, there’s some unexplainable weakness in the NZD following some weird rates activity yesterday; US 10-year Treasury rate has traded a tight 2.49-2.52% range

Within the mix of little overall price action, there’s some unexplainable weakness in the NZD following some weird rates activity yesterday; US 10-year Treasury rate has traded a tight 2.49-2.52% range