Jason Wong

NZD has outperformed, trading at around 0.7300 USD; AUD has pushed up through 0.7800 USD; safe-havens such as CHF, JPY and USD have underperformed; US 10-year Treasury yield currently down 1 bp from the NZ close

NZD has outperformed, trading at around 0.7300 USD; AUD has pushed up through 0.7800 USD; safe-havens such as CHF, JPY and USD have underperformed; US 10-year Treasury yield currently down 1 bp from the NZ close

NZD was generally lower through the Asian session, finding some support just above the 0.72 mark; GBP has outperformed, seeing a lift after UK PM May spoke in Parliament; CAD has been a notable underperformer

NZD was generally lower through the Asian session, finding some support just above the 0.72 mark; GBP has outperformed, seeing a lift after UK PM May spoke in Parliament; CAD has been a notable underperformer

NZ Govt bond yields mirror gains in US rates but local swaps don't react. Eyes on Aussie data today and the RBA update

NZ Govt bond yields mirror gains in US rates but local swaps don't react. Eyes on Aussie data today and the RBA update

US equities managed to trend higher through the course of the day, ending up 0.5%; US 10-year yields reversed the previous day’s fall; USD remained on a softer trajectory; NZD closed the week at around 0.7240

US equities managed to trend higher through the course of the day, ending up 0.5%; US 10-year yields reversed the previous day’s fall; USD remained on a softer trajectory; NZD closed the week at around 0.7240

A heavy wave of US T-bill and Treasury bond issuance starts week to support widening US fiscal deficit. Bid-cover lowest in a decade, foreign central banks buying

A heavy wave of US T-bill and Treasury bond issuance starts week to support widening US fiscal deficit. Bid-cover lowest in a decade, foreign central banks buying

USD major currency TWI is up 0.5% for the session, taking its cumulative gain since the intraday low on Friday to 1.5%; NZD has traded in a tight range overnight and sits this morning around 0.7350 USD; GBP has been the strongest of the majors

USD major currency TWI is up 0.5% for the session, taking its cumulative gain since the intraday low on Friday to 1.5%; NZD has traded in a tight range overnight and sits this morning around 0.7350 USD; GBP has been the strongest of the majors

Various USD indices recovered by 0.8-0.9% by the close of the week; NZD was modestly higher on most of the crosses; EUR was the weakest, closing near 1.2400 USD

Various USD indices recovered by 0.8-0.9% by the close of the week; NZD was modestly higher on most of the crosses; EUR was the weakest, closing near 1.2400 USD

US public holiday brings light calendar. Impressive US data overshadowed by Mueller's indictments, and impending tariff actions. Fed minutes eyed for clues about number of hikes

US public holiday brings light calendar. Impressive US data overshadowed by Mueller's indictments, and impending tariff actions. Fed minutes eyed for clues about number of hikes

Equities signal risk-on but bonds don't play by the same script. EU surplus with US grows. NZ rates play catchup with USTs with NZG 10yr yield rising

Equities signal risk-on but bonds don't play by the same script. EU surplus with US grows. NZ rates play catchup with USTs with NZG 10yr yield rising

JPY and CHF that have outperformed over the past 24 hours, while the USD is lower against all the majors; GBP has also performed well; NZD trades this morning at 0.7380 near the level at the NZ close; AUD has been the worst performer for the day

JPY and CHF that have outperformed over the past 24 hours, while the USD is lower against all the majors; GBP has also performed well; NZD trades this morning at 0.7380 near the level at the NZ close; AUD has been the worst performer for the day

US CPI rose by 0.3% m/m in January, 0.1 percentage points ahead of market expectations; US Treasury rates were higher across the curve; CPI's positive impact on the USD quickly faded; NZD is currently trading around 0.7340 USD

US CPI rose by 0.3% m/m in January, 0.1 percentage points ahead of market expectations; US Treasury rates were higher across the curve; CPI's positive impact on the USD quickly faded; NZD is currently trading around 0.7340 USD

The Fed's Powell and Mester play their roles, seeing 'great progress' and 'upside risks'. Market eyes on US CPI with consensus variance the trigger for reaction

The Fed's Powell and Mester play their roles, seeing 'great progress' and 'upside risks'. Market eyes on US CPI with consensus variance the trigger for reaction

The two safe-haven currencies, JPY and CHF have outperformed; softer USD sees EUR up 0.5% to 1.2360 and GBP up 0.3% to 1.3880; commodity currencies have underperformed; NZDUSD has nudged up to 0.7280

The two safe-haven currencies, JPY and CHF have outperformed; softer USD sees EUR up 0.5% to 1.2360 and GBP up 0.3% to 1.3880; commodity currencies have underperformed; NZDUSD has nudged up to 0.7280

Higher global rates start to feed into local markets. Markets ignoring dovish RBNZ views. Rising US debt getting ratings agency attention

Higher global rates start to feed into local markets. Markets ignoring dovish RBNZ views. Rising US debt getting ratings agency attention

NZD peaked around the local close at 0.7277 yesterday and has back nudged down to 0.7240; EUR, GBP and JPY changes versus the USD are all currently within 0.1% of the weekend close

NZD peaked around the local close at 0.7277 yesterday and has back nudged down to 0.7240; EUR, GBP and JPY changes versus the USD are all currently within 0.1% of the weekend close

USD held on to its gains seen earlier in the week; NZD was up 0.5% to 0.7255 USD, reducing its loss for the week to just 0.6%; GBP was the worst performer

USD held on to its gains seen earlier in the week; NZD was up 0.5% to 0.7255 USD, reducing its loss for the week to just 0.6%; GBP was the worst performer

Economic analysts and markets view the rising tide of US Government debt differently. US curves steepen. Economists see four Fed hikes in 2018, markets now less than three

Economic analysts and markets view the rising tide of US Government debt differently. US curves steepen. Economists see four Fed hikes in 2018, markets now less than three

UST 10yr can't break higher. NZ bond yields nudge up. Eyes on US non-farm payrolls report but expectations aren't high

UST 10yr can't break higher. NZ bond yields nudge up. Eyes on US non-farm payrolls report but expectations aren't high

Various USD indices were down around 0.3% for the day; NZD finds itself back up to the 0.7400 USD mark; EUR is back up probing the 1.25 USD mark; GBP has largely managed to keep pace with the EUR

Various USD indices were down around 0.3% for the day; NZD finds itself back up to the 0.7400 USD mark; EUR is back up probing the 1.25 USD mark; GBP has largely managed to keep pace with the EUR

Local rates pressed by higher US rates and lower AU rates with the Aussie influence tending to revail with slightly lower yields

Local rates pressed by higher US rates and lower AU rates with the Aussie influence tending to revail with slightly lower yields

NZD has performed well amidst a mildly softer USD backdrop, now trading at 0.7370 USD; NZDAUD moved on to a higher plane to around 0.9140 after the Australian CPI result; JPY has been the weakest of the majors

NZD has performed well amidst a mildly softer USD backdrop, now trading at 0.7370 USD; NZDAUD moved on to a higher plane to around 0.9140 after the Australian CPI result; JPY has been the weakest of the majors

USD appears to be in some sort of consolidation mode over recent days, after the steady fall we’ve seen since mid-December; US 10-year yields have consolidated around the 2.70% mark; NZD trading at 0.7335 USD after dipping to 0.7280 last evening

USD appears to be in some sort of consolidation mode over recent days, after the steady fall we’ve seen since mid-December; US 10-year yields have consolidated around the 2.70% mark; NZD trading at 0.7335 USD after dipping to 0.7280 last evening

UST 10-year yield up 4bps from the weekend close to 2.70% and poking its head above 2.725%; USD is on a higher trajectory, rising against all the majors; NZD is weaker, closing in on 0.7300

UST 10-year yield up 4bps from the weekend close to 2.70% and poking its head above 2.725%; USD is on a higher trajectory, rising against all the majors; NZD is weaker, closing in on 0.7300

Bond yields rise, German bunds +2 bps, USTs +4 bps. But breakout elusive. Eyes on US payrolls

Bond yields rise, German bunds +2 bps, USTs +4 bps. But breakout elusive. Eyes on US payrolls

Trump 'corrects' Mnuchin on USD, BofJ says inflation farget close, Aussie dollar on the rise, currency market ignore weak NZ CPI

Trump 'corrects' Mnuchin on USD, BofJ says inflation farget close, Aussie dollar on the rise, currency market ignore weak NZ CPI