Jason Wong

US consumer confidence higher on lower interest rate outlook while labour market conditions soften further. US equities edge higher, US Treasury yields in clear curve steepening bias and the US is broadly weaker

US consumer confidence higher on lower interest rate outlook while labour market conditions soften further. US equities edge higher, US Treasury yields in clear curve steepening bias and the US is broadly weaker

Markets are consolidating following the initial excitement following Powell’s Jackson Hole speech. US equities are down modestly, US Treasuries show small changes, and the USD is slightly stronger

Markets are consolidating following the initial excitement following Powell’s Jackson Hole speech. US equities are down modestly, US Treasuries show small changes, and the USD is slightly stronger

Powell’s Jackson Hole speech was music to the ears of investors. Risk appetite increased, US equities up over 1%, Treasury yields fell, the USD was broadly weaker, and commodity prices rose

Powell’s Jackson Hole speech was music to the ears of investors. Risk appetite increased, US equities up over 1%, Treasury yields fell, the USD was broadly weaker, and commodity prices rose

There has been a reversal of recent price action, with US equities weaker, higher rates and a stronger USD. Data suggested no need for the Fed to panic, Fed speakers arguing for gradualism

There has been a reversal of recent price action, with US equities weaker, higher rates and a stronger USD. Data suggested no need for the Fed to panic, Fed speakers arguing for gradualism

US Treasury yields are down 5-6bps, supported by benign Canadian CPI data. The USD is again broadly weaker, taking the DXY index down to fresh lows for the year; the yen is the strongest of the majors

US Treasury yields are down 5-6bps, supported by benign Canadian CPI data. The USD is again broadly weaker, taking the DXY index down to fresh lows for the year; the yen is the strongest of the majors

Fed speakers give the green light to a rate cut next month. Global equity markets rise. Eyes turn to Jackson Hole speakers

Fed speakers give the green light to a rate cut next month. Global equity markets rise. Eyes turn to Jackson Hole speakers

A benign US PPI got the market’s attention and helped drive lower US rates, a lower USD and higher US equities. Against broad-based weakness in the USD, the NZD has outperformed

A benign US PPI got the market’s attention and helped drive lower US rates, a lower USD and higher US equities. Against broad-based weakness in the USD, the NZD has outperformed

A quiet start to a busy week, with US equities flat, US Treasury yields slightly lower and modest changes in major currencies. The economic calendar picks up, with Australian wages data, UK labour market data and US PPI ahead

A quiet start to a busy week, with US equities flat, US Treasury yields slightly lower and modest changes in major currencies. The economic calendar picks up, with Australian wages data, UK labour market data and US PPI ahead

Big week ahead, with RBNZ MPS and key global data, including the US CPI. US equity markets recovered on Friday with a modest gain while the US Treasuries curve flattened

Big week ahead, with RBNZ MPS and key global data, including the US CPI. US equity markets recovered on Friday with a modest gain while the US Treasuries curve flattened

A larger than expected fall in US initial jobless claims allayed fears of a pending US recession, sending US equities much higher and US Treasury yields higher, with the 10-year rate returning to a 4% handle

A larger than expected fall in US initial jobless claims allayed fears of a pending US recession, sending US equities much higher and US Treasury yields higher, with the 10-year rate returning to a 4% handle

Risk appetite recover further, although risks remain and US equities gains have morphed into losses. US Treasury yields have pushed higher and the NZD has outperformed

Risk appetite recover further, although risks remain and US equities gains have morphed into losses. US Treasury yields have pushed higher and the NZD has outperformed

Risk appetite returned, with global equities rebounding, UST yields higher, the yen falling and commodity currencies outperforming. A more hawkish than expected update by the RBA. Key NZ labour market data out today to show further deterioration

Risk appetite returned, with global equities rebounding, UST yields higher, the yen falling and commodity currencies outperforming. A more hawkish than expected update by the RBA. Key NZ labour market data out today to show further deterioration

Risk appetite fell after weaker than expected US economic data on the labour market and manufacturing sector. US equities have fallen significantly, and the US 10-year Treasury yield has fallen below 4%

Risk appetite fell after weaker than expected US economic data on the labour market and manufacturing sector. US equities have fallen significantly, and the US 10-year Treasury yield has fallen below 4%

Lower tech stocks have driven US equities down while UST yields are lower, ignoring slightly stronger than expected US JOLTs data and consumer confidence. JPY strengthened after report that the BoJ will consider a hike at today’s meeting

Lower tech stocks have driven US equities down while UST yields are lower, ignoring slightly stronger than expected US JOLTs data and consumer confidence. JPY strengthened after report that the BoJ will consider a hike at today’s meeting

US equities are flat, global rates are down slightly and the USD is slightly stronger. Oil prices continue to trend lower, with Brent crude down 2% to slip to a 7-week low below USD80

US equities are flat, global rates are down slightly and the USD is slightly stronger. Oil prices continue to trend lower, with Brent crude down 2% to slip to a 7-week low below USD80

Stronger than expected US GDP data supported the soft-landing narrative, and US equities have consolidated after yesterday's tumble. Currency markets have remained erratic

Stronger than expected US GDP data supported the soft-landing narrative, and US equities have consolidated after yesterday's tumble. Currency markets have remained erratic

US stocks tumble, led by the mega cap and IT stocks. However, it doesn’t seem like a classic risk-off event, with the UST 10yr rate up and the curve steepened significantly. The Bank of Canada cuts again, by 25bps. The yen continues to outperform

US stocks tumble, led by the mega cap and IT stocks. However, it doesn’t seem like a classic risk-off event, with the UST 10yr rate up and the curve steepened significantly. The Bank of Canada cuts again, by 25bps. The yen continues to outperform

US equities are flat and US Treasury yields are slightly lower. Of note is that lower commodity prices continue to drag down the NZD and AUD, while the yen remains flavour of the week

US equities are flat and US Treasury yields are slightly lower. Of note is that lower commodity prices continue to drag down the NZD and AUD, while the yen remains flavour of the week

US equities have rebounded, recovering from last week’s hiccup, driven by the tech sector. Market reaction to Biden’s withdrawal from the Presidential race has been muted, with only small changes in the USD and Treasury yields

US equities have rebounded, recovering from last week’s hiccup, driven by the tech sector. Market reaction to Biden’s withdrawal from the Presidential race has been muted, with only small changes in the USD and Treasury yields

Financial markets ended last week on a soft note, with weaker global equity markets, higher global rates and lower commodity prices. Volumes were light as trading activity was restricted by the global IT outage

Financial markets ended last week on a soft note, with weaker global equity markets, higher global rates and lower commodity prices. Volumes were light as trading activity was restricted by the global IT outage

Another benign US CPI result drove a sharp rally in US Treasury yields. USD weakness wasn’t sustained however, except for a plunge in USD/JPY with official intervention suspected

Another benign US CPI result drove a sharp rally in US Treasury yields. USD weakness wasn’t sustained however, except for a plunge in USD/JPY with official intervention suspected

Powell’s testimony largely repeated previous messages, didn’t move the needle in financial markets. There has been more action in Europe, with the Euro Stoxx 600 index down 0.9%, led by France, and French-German bond spreads widened

Powell’s testimony largely repeated previous messages, didn’t move the needle in financial markets. There has been more action in Europe, with the Euro Stoxx 600 index down 0.9%, led by France, and French-German bond spreads widened

Market movements well-contained, with little impact from the shock French election result. Key equity markets show small changes, the US 10-year rate is down slightly, the NZD has underperformed and is modestly weaker

Market movements well-contained, with little impact from the shock French election result. Key equity markets show small changes, the US 10-year rate is down slightly, the NZD has underperformed and is modestly weaker

USD/JPY marched up through 160 to a fresh 38-year high, raising the chance of yen intervention. The PBoC continues to allow a softer yuan, while the AUD outperformed after a strong monthly CPI that caught the market off guard

USD/JPY marched up through 160 to a fresh 38-year high, raising the chance of yen intervention. The PBoC continues to allow a softer yuan, while the AUD outperformed after a strong monthly CPI that caught the market off guard

Market movements well contained. US equities up modestly, US Treasuries yields up slightly and the USD index is slightly stronger. Canadian inflation positively surprised, but this had more impact on rates than the CAD

Market movements well contained. US equities up modestly, US Treasuries yields up slightly and the USD index is slightly stronger. Canadian inflation positively surprised, but this had more impact on rates than the CAD