Jason Wong

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

UST yields rise on shutdown risk. But stronger US growth and inflation will encourage Fed tightening. NZ PMI will test business confidence assessments

UST yields rise on shutdown risk. But stronger US growth and inflation will encourage Fed tightening. NZ PMI will test business confidence assessments

US funding shenanigans weigh on greenback. Apple to make massive repatriation. Other US data mixed. China data positive. NZD holds its own

US funding shenanigans weigh on greenback. Apple to make massive repatriation. Other US data mixed. China data positive. NZD holds its own

NZD is trading just above the 0.7300 USD mark this morning; USD movements driven by possibility of government shutdown; US 10-year rates have been trading between 2.54-2.57% since the NZ close; local rates stable

NZD is trading just above the 0.7300 USD mark this morning; USD movements driven by possibility of government shutdown; US 10-year rates have been trading between 2.54-2.57% since the NZ close; local rates stable

Selling pressure in the USD has taken a breather, with the key USD indices drifting higher; NZD has drifted lower since this time yesterday, from just above 0.7300 USD to as low as 0.7259 early this morning

Selling pressure in the USD has taken a breather, with the key USD indices drifting higher; NZD has drifted lower since this time yesterday, from just above 0.7300 USD to as low as 0.7259 early this morning

NZD has outperformed as the new week begins, with the overnight high of 0.7315 reached around sunrise; NZDAUD has tracked sideways; “Sell USD against anything” seems to be the current mantra early in 2018; 2 yr local swap rates up 1 bp and 10 yr up 3 bps

NZD has outperformed as the new week begins, with the overnight high of 0.7315 reached around sunrise; NZDAUD has tracked sideways; “Sell USD against anything” seems to be the current mantra early in 2018; 2 yr local swap rates up 1 bp and 10 yr up 3 bps

EUR gets boost from Merkel coalition, US data surprises on the upside, but USD fails to capitalise on fiscal, trade headwinds. NZD fatigued after strong run

EUR gets boost from Merkel coalition, US data surprises on the upside, but USD fails to capitalise on fiscal, trade headwinds. NZD fatigued after strong run

GBP was the key mover on Friday; NZD remained little changed from the NZ close at around 0.6840 USD; there was a slight steepening of the curve after the US employment report

GBP was the key mover on Friday; NZD remained little changed from the NZ close at around 0.6840 USD; there was a slight steepening of the curve after the US employment report

Markets are waiting for the US employment report, some agreement on the tax bill and to see if the US Government needs a shut down; commodity currencies, including the NZD, underperform; GBP continues to remain the most volatile of the majors

Markets are waiting for the US employment report, some agreement on the tax bill and to see if the US Government needs a shut down; commodity currencies, including the NZD, underperform; GBP continues to remain the most volatile of the majors

US yield curve flattest in 10 years, distorted by QE durations. Soft AU GDP pushes back next RBA rise. Eyes now on US non-farm payrolls report

US yield curve flattest in 10 years, distorted by QE durations. Soft AU GDP pushes back next RBA rise. Eyes now on US non-farm payrolls report

NZD trades this morning at 0.6870, a similar level as at this time yesterday; AUD came under pressure yesterday; EUR’s downtrend this month has continued; biggest loser for the day has been a weaker CAD

NZD trades this morning at 0.6870, a similar level as at this time yesterday; AUD came under pressure yesterday; EUR’s downtrend this month has continued; biggest loser for the day has been a weaker CAD

Markets expect US Fed hike, but long rates slip causing a yield curve flattening. NZ rates rise and steepen. Eyes on AU GDP and US jobs data

Markets expect US Fed hike, but long rates slip causing a yield curve flattening. NZ rates rise and steepen. Eyes on AU GDP and US jobs data

NZD met some resistance just over the 0.69 mark and has slipped in overnight trading to around 0.6875; higher than expected Australian retail sales gave the AUD a boost yesterday; USD has made some ground against EUR, GBP and JPY

NZD met some resistance just over the 0.69 mark and has slipped in overnight trading to around 0.6875; higher than expected Australian retail sales gave the AUD a boost yesterday; USD has made some ground against EUR, GBP and JPY

UST 10yr yield opened higher and traded a tight range since, up 3 bps to 2.39%; European rates are also higher; in the local rates market, downward pressure remained evident for money market rates

UST 10yr yield opened higher and traded a tight range since, up 3 bps to 2.39%; European rates are also higher; in the local rates market, downward pressure remained evident for money market rates

NZD trading at 0.6840 USD, close to its session lows; today's direction to be determined by Acting Governor Spencer's speech; GBP has had a volatile session

NZD trading at 0.6840 USD, close to its session lows; today's direction to be determined by Acting Governor Spencer's speech; GBP has had a volatile session

NZD made up some lost ground, ending the week around 0.6890 USD; USD was weaker, with the TWI major index down 0.6%; global rates were lower, UST 10yr dived 10 bps to 2.32%; local rates had a slight downward bias

NZD made up some lost ground, ending the week around 0.6890 USD; USD was weaker, with the TWI major index down 0.6%; global rates were lower, UST 10yr dived 10 bps to 2.32%; local rates had a slight downward bias

NZ-US 10-year bond spread down to 34 bps, the lowest since 1993. UST 10yr up to 2.42% but volatility lowest since 1979

NZ-US 10-year bond spread down to 34 bps, the lowest since 1993. UST 10yr up to 2.42% but volatility lowest since 1979

NZD is about 0.7% weaker than it was this time yesterday, trading at 0.6840 USD; EUR and GBP have outperformed; month-end flows seem to be dominating USD moves

NZD is about 0.7% weaker than it was this time yesterday, trading at 0.6840 USD; EUR and GBP have outperformed; month-end flows seem to be dominating USD moves

GBP is up 0.8% to 1.3445 USD on promising Brexit talks; in the bond markets, yields are up across the board; NZD is around where it closed the local session at 0.6890 USD; local swap rates down 2-3bps

GBP is up 0.8% to 1.3445 USD on promising Brexit talks; in the bond markets, yields are up across the board; NZD is around where it closed the local session at 0.6890 USD; local swap rates down 2-3bps

NZD holds the top performing spot for the second day in a row, trading at 0.6925 USD; USD TWI majors index is up 0.3%; UST 2-year rate is flat, while the 10yr rate is down 1bp to 2.32%; local yields were 1 bp lower across the curve

NZD holds the top performing spot for the second day in a row, trading at 0.6925 USD; USD TWI majors index is up 0.3%; UST 2-year rate is flat, while the 10yr rate is down 1bp to 2.32%; local yields were 1 bp lower across the curve