Jason Wong

NZD at the bottom of the leaderboard as traders expect dovish tone from RBNZ; NZ rates were lower and the long end rates outperformed global peers; USD and UST yields were higher

NZD at the bottom of the leaderboard as traders expect dovish tone from RBNZ; NZ rates were lower and the long end rates outperformed global peers; USD and UST yields were higher

Markets eye RBNZ review but don't expect change. Bond yields trade in tight ranges. Slight steepening bias creeping in

Markets eye RBNZ review but don't expect change. Bond yields trade in tight ranges. Slight steepening bias creeping in

NZD is now a full two cents lower from the late July peak, after losing 0.7% to 0.7630 USD; USD holds on to Friday's post employment gains; other commodity currencies down slightly

NZD is now a full two cents lower from the late July peak, after losing 0.7% to 0.7630 USD; USD holds on to Friday's post employment gains; other commodity currencies down slightly

American jobs grow as the Fed needs. Focus now turns to inflation which has been lagging. Markets not pricing rate hike just yet. NZD fares better than others against USD

American jobs grow as the Fed needs. Focus now turns to inflation which has been lagging. Markets not pricing rate hike just yet. NZD fares better than others against USD

NZD saw some selling pressure yesterday but recovered to trade at 0.7440 USD; local yields had a downward bias; global bond yields were lower on BoE policy meeting; JPY topped leaderboard

NZD saw some selling pressure yesterday but recovered to trade at 0.7440 USD; local yields had a downward bias; global bond yields were lower on BoE policy meeting; JPY topped leaderboard

Ultra long bonds an option for the Americans as faster debt increases loom. Markets push out guess as to when next OCR rise due

Ultra long bonds an option for the Americans as faster debt increases loom. Markets push out guess as to when next OCR rise due

Weaker than expected labour market data saw NZD drop to the 0.7435 USD level it is trading this morning; EUR tops leaderboard, now trading at 1.1860 USD; GBP in favour ahead of BoE policy meeting this morning

Weaker than expected labour market data saw NZD drop to the 0.7435 USD level it is trading this morning; EUR tops leaderboard, now trading at 1.1860 USD; GBP in favour ahead of BoE policy meeting this morning

Wholesale rates fall as inflation weaker than expected. Next RBNZ hike not now seen until August 2018. US politics drives down international yields

Wholesale rates fall as inflation weaker than expected. Next RBNZ hike not now seen until August 2018. US politics drives down international yields

NZD lost 60 pips on a soft CPI release but recovered it relatively quickly; USD was under pressure as two Republican senators said they wouldn't support the healthcare bill; AUDUSD tested its highest level in two years

NZD lost 60 pips on a soft CPI release but recovered it relatively quickly; USD was under pressure as two Republican senators said they wouldn't support the healthcare bill; AUDUSD tested its highest level in two years

All eyes on inflation data with expectations low, even below the RBNZ's estimate. Curves flattening on global trends

All eyes on inflation data with expectations low, even below the RBNZ's estimate. Curves flattening on global trends

NZD, AUD and CAD all down from the weekend close, with the NZD opening at 0.7320 USD; GBP 0.3% lower and EUR and JPY are flat; attention today turns to NZ CPI

NZD, AUD and CAD all down from the weekend close, with the NZD opening at 0.7320 USD; GBP 0.3% lower and EUR and JPY are flat; attention today turns to NZ CPI

US CPI was lower than expectations for the fourth consecutive month, USD majors index is down 0.7%, US rates recovered losses to close 1 bps lower; NZD made the smallest gain of all majors against the USD, up 0.4%; local rate curve steepened on Friday

US CPI was lower than expectations for the fourth consecutive month, USD majors index is down 0.7%, US rates recovered losses to close 1 bps lower; NZD made the smallest gain of all majors against the USD, up 0.4%; local rate curve steepened on Friday

NZD and AUD up to 0.7325 and 0.7730 USD respectively, both trading in a significant area of resistance; USD flat prior to inflation release tonight, which has missed the target in the last three releases; global yields up on news of potential ECB tapering

NZD and AUD up to 0.7325 and 0.7730 USD respectively, both trading in a significant area of resistance; USD flat prior to inflation release tonight, which has missed the target in the last three releases; global yields up on news of potential ECB tapering

NZD and AUD up about 0.6% after Janet Yellen's testimony, trading at 0.7265 and 0.7680 USD respectively; Fed may not need to raise rates much further to maintain supply and demand in the economy; CAD outperforms as BoC begins tightening cycle

NZD and AUD up about 0.6% after Janet Yellen's testimony, trading at 0.7265 and 0.7680 USD respectively; Fed may not need to raise rates much further to maintain supply and demand in the economy; CAD outperforms as BoC begins tightening cycle

Falling local yields expected to continue, driven by lower house price inflation, weak food prices, and slipping global rates

Falling local yields expected to continue, driven by lower house price inflation, weak food prices, and slipping global rates

Politics keeps US rates from following European rates up. Focus turns to Yellen testimony. Return of receiving interest noted in local markets

Politics keeps US rates from following European rates up. Focus turns to Yellen testimony. Return of receiving interest noted in local markets

Weak electronic card transactions and ANZ inflation gauge saw the NZD fall to 0.7202 USD prior to recovering to 0.7240 as the USD weakened; USD lower as emails suggest that Russian government helped Trump campaign; EURUSD rises to 14-month high

Weak electronic card transactions and ANZ inflation gauge saw the NZD fall to 0.7202 USD prior to recovering to 0.7240 as the USD weakened; USD lower as emails suggest that Russian government helped Trump campaign; EURUSD rises to 14-month high

NZD opens 0.7275 USD this morning, where all major currencies, except NOK, are with 0.1% of their Friday close; NOK was up 0.5% on higher than expected CPI

NZD opens 0.7275 USD this morning, where all major currencies, except NOK, are with 0.1% of their Friday close; NOK was up 0.5% on higher than expected CPI

NZ swap rates rise modestly in contrast to softer yields in the US and Europe. But markets wonder if this little more than a temporary respite from the recent global rates sell-off

NZ swap rates rise modestly in contrast to softer yields in the US and Europe. But markets wonder if this little more than a temporary respite from the recent global rates sell-off

NZD traded in a tight range apart from some volatility around the US payroll data, closing at 0.7280 USD; US payroll data stronger than expected, signalling robust economic growth; UK data weaker than expected, lowers rate hike expectations

NZD traded in a tight range apart from some volatility around the US payroll data, closing at 0.7280 USD; US payroll data stronger than expected, signalling robust economic growth; UK data weaker than expected, lowers rate hike expectations

Yellen concerned about asset prices and impact on financial stability, which may outweigh inflation in future rate decisions

Yellen concerned about asset prices and impact on financial stability, which may outweigh inflation in future rate decisions

Europe leads the global bond sell-off, which has also spilled over to the US markets, setting a risk-off tone; NZD and AUD at the bottom of the leaderboard; local rates lower yesterday but upside pressure expected on the open

Europe leads the global bond sell-off, which has also spilled over to the US markets, setting a risk-off tone; NZD and AUD at the bottom of the leaderboard; local rates lower yesterday but upside pressure expected on the open

Bond market complacency ends following the coordinated major central bank change in policy guidance. A more volatile period for the rates market could well prevail over coming months

Bond market complacency ends following the coordinated major central bank change in policy guidance. A more volatile period for the rates market could well prevail over coming months

NZD falls to around 0.7300 USD as USD recovers; USD major currency index up 0.5%; Yen continues to underperform; business surveys point to global economic recovery extending

NZD falls to around 0.7300 USD as USD recovers; USD major currency index up 0.5%; Yen continues to underperform; business surveys point to global economic recovery extending

NZD ended the week at 0.7330 USD on the back of a soft USD, up 0.5% for the day; Yen the was again one of the worst performing currencies; AUD up 1.6% for the week as iron ore prices rose 14.5%

NZD ended the week at 0.7330 USD on the back of a soft USD, up 0.5% for the day; Yen the was again one of the worst performing currencies; AUD up 1.6% for the week as iron ore prices rose 14.5%