Jason Wong

Short rates range bound, but long rates rise steepening local curve. UST 10yr yields slip as markets sceptical of Trump tax plans

Short rates range bound, but long rates rise steepening local curve. UST 10yr yields slip as markets sceptical of Trump tax plans

NZDUSD trading lower at 0.6880, as USD strength continued to dominate markets; USD supported by Trump's tax cuts; AUDUSD also traded lower to 0.7470 and NZDAUD is at 0.9215

NZDUSD trading lower at 0.6880, as USD strength continued to dominate markets; USD supported by Trump's tax cuts; AUDUSD also traded lower to 0.7470 and NZDAUD is at 0.9215

Bond markets adjust after suspicion that price firming has been overdone. US Fed resolve and risk-on sentiment may underpin rises in local wholesale rates

Bond markets adjust after suspicion that price firming has been overdone. US Fed resolve and risk-on sentiment may underpin rises in local wholesale rates

Market friendly French election result has seen an increase in global risk appetite; NZD, however, has not benefited from this and is trading at 0.6950 USD and 0.9220 AUD; EUR remains in favour and JPY suffers

Market friendly French election result has seen an increase in global risk appetite; NZD, however, has not benefited from this and is trading at 0.6950 USD and 0.9220 AUD; EUR remains in favour and JPY suffers

US tax cuts take focus - but border tax may be abandoned. Implications for US deficits queried. US Fed says still on track for two more 2017 rate increases

US tax cuts take focus - but border tax may be abandoned. Implications for US deficits queried. US Fed says still on track for two more 2017 rate increases

NZD opens at 0.7040 USD making small gains on most of the crosses; EUR jumped up to 1.0930 USD this morning, up 1.8%, after exit polls indicated that Macron would be the likely winner of the French election; CAD and NOK lower as WTI Crude Oil fell 2%

NZD opens at 0.7040 USD making small gains on most of the crosses; EUR jumped up to 1.0930 USD this morning, up 1.8%, after exit polls indicated that Macron would be the likely winner of the French election; CAD and NOK lower as WTI Crude Oil fell 2%

NZD and local rates moved up after CPI release but subsequently reversed some gains, NZDUSD currently at 0.7010 and 2yr and 10yr swaps at 2.32% and 3.30%; despite soft data releases recently, US Fed speakers still looking to raise rates as planned

NZD and local rates moved up after CPI release but subsequently reversed some gains, NZDUSD currently at 0.7010 and 2yr and 10yr swaps at 2.32% and 3.30%; despite soft data releases recently, US Fed speakers still looking to raise rates as planned

NZ CPI rise expected although RBNZ vows to 'look-through' it. Yield curve flatter. Markets welcome more NZGB supply

NZ CPI rise expected although RBNZ vows to 'look-through' it. Yield curve flatter. Markets welcome more NZGB supply

NZD drops to the 0.7000 level against the USD as the USD finds some support after a weak run; AUD worst performer of the day, now trading around 0.7500 USD and 0.9340 NZD; GBP loses some gains made from the election announcement

NZD drops to the 0.7000 level against the USD as the USD finds some support after a weak run; AUD worst performer of the day, now trading around 0.7500 USD and 0.9340 NZD; GBP loses some gains made from the election announcement

NZD trades close to 0.7040 USD, around its high for the session, and above 0.9300 AUD; GBPUSD up over 2% as an early UK election announced; US Treasury rates lower on weak CPI data and delayed fiscal stimulus, 10yr rate down 7bps

NZD trades close to 0.7040 USD, around its high for the session, and above 0.9300 AUD; GBPUSD up over 2% as an early UK election announced; US Treasury rates lower on weak CPI data and delayed fiscal stimulus, 10yr rate down 7bps

NZD trading at 0.7010 USD, driven by a weaker USD and strong China data; USD lower on Trump comments and weaker than expected CPI data; AUD pushes up to around 0.76 USD, sustaining gains seen after strong employment data, NZDAUD trading at 0.9230

NZD trading at 0.7010 USD, driven by a weaker USD and strong China data; USD lower on Trump comments and weaker than expected CPI data; AUD pushes up to around 0.76 USD, sustaining gains seen after strong employment data, NZDAUD trading at 0.9230

NZ rates flatter as markets question whether the US Fed will raise rates in 2017. UST 10yr yields bounce back from lows. NZ eyes on Q1 CPI

NZ rates flatter as markets question whether the US Fed will raise rates in 2017. UST 10yr yields bounce back from lows. NZ eyes on Q1 CPI

Investors pile in to NZ Govt bonds that are in short supply, driving yields to test the 3% level for the 10yr. Local swap rates show flatter bias

Investors pile in to NZ Govt bonds that are in short supply, driving yields to test the 3% level for the 10yr. Local swap rates show flatter bias

NZD down between 0.3-0.7% on all crosses, trading at 0.6915 USD; AUD under pressure as well, as iron ore prices drop further; VIX index continues to rise, trading in the 15-16 range

NZD down between 0.3-0.7% on all crosses, trading at 0.6915 USD; AUD under pressure as well, as iron ore prices drop further; VIX index continues to rise, trading in the 15-16 range

Global forces, pushed by heightened geopolitical risks, are weighing on yields as investors move into bonds for safety. NZ Govt 10yr on track to go sub 3%

Global forces, pushed by heightened geopolitical risks, are weighing on yields as investors move into bonds for safety. NZ Govt 10yr on track to go sub 3%

NZD and AUD changed less than 0.1% against the USD, NZD trading at 0.6955 USD and 0.9280 AUD; geopolitical risks continue to be centre-stage, Yen the strongest performer as the VIX rises to its highest level since US Presidential election

NZD and AUD changed less than 0.1% against the USD, NZD trading at 0.6955 USD and 0.9280 AUD; geopolitical risks continue to be centre-stage, Yen the strongest performer as the VIX rises to its highest level since US Presidential election

German and US yields lower in a risk-off move triggered by the attack on Syria, US focus on North Korea and the French election; USD lower and NZD up against most crosses; local yields were up 3-6 bps yesterday, following global moves from the weekend

German and US yields lower in a risk-off move triggered by the attack on Syria, US focus on North Korea and the French election; USD lower and NZD up against most crosses; local yields were up 3-6 bps yesterday, following global moves from the weekend

NZD down to 0.6940 USD, local yields make fresh lows but expected to rise on market open; USD stronger and UST yields up as US unemployment rate falls to a lower-than-expected 4.5%; AUD lower as iron ore prices drop over 6% in one day, NZDAUD up to 0.9250

NZD down to 0.6940 USD, local yields make fresh lows but expected to rise on market open; USD stronger and UST yields up as US unemployment rate falls to a lower-than-expected 4.5%; AUD lower as iron ore prices drop over 6% in one day, NZDAUD up to 0.9250

Local monetary conditions tightening, seeing some rates rise. Interest rate markets waiting on US jobs report. US Fed may first raise rates, then start bond selldown

Local monetary conditions tightening, seeing some rates rise. Interest rate markets waiting on US jobs report. US Fed may first raise rates, then start bond selldown

NZDUSD traded a tight 30 point range and currently sits at 0.6970, NZDAUD up 0.4% to 0.9240; USD recovers some losses from the FOMC minutes which stated that the Fed may look to reduce the size of its balance sheet as securities mature later in the year

NZDUSD traded a tight 30 point range and currently sits at 0.6970, NZDAUD up 0.4% to 0.9240; USD recovers some losses from the FOMC minutes which stated that the Fed may look to reduce the size of its balance sheet as securities mature later in the year

USD rallied on strong payroll data but lost most of the gains after the release of FOMC minutes, this trend was reflected in the NZDUSD; AUD support by higher base metal prices has seen the NZD fall below the 0.92 AUD level

USD rallied on strong payroll data but lost most of the gains after the release of FOMC minutes, this trend was reflected in the NZDUSD; AUD support by higher base metal prices has seen the NZD fall below the 0.92 AUD level

Fed minutes take gloss off of good US jobs report. Germans want ECB to take foot off pedal 'slightly'. LGFA bond tender impresses markets

Fed minutes take gloss off of good US jobs report. Germans want ECB to take foot off pedal 'slightly'. LGFA bond tender impresses markets

Sharp fall in local wholesale rates may turn around today after US moves today sees higher yields. Focus now on Xi-Trump meeting, and US jobs reports

Sharp fall in local wholesale rates may turn around today after US moves today sees higher yields. Focus now on Xi-Trump meeting, and US jobs reports

NZDUSD trading at 0.6970, below the 0.70 level it was holding for the last few days, despite good QSBO and GDT numbers; AUD worst performer of the day, with NZDAUD trading at 0.9225

NZDUSD trading at 0.6970, below the 0.70 level it was holding for the last few days, despite good QSBO and GDT numbers; AUD worst performer of the day, with NZDAUD trading at 0.9225

NZD strongest amongst the underperforming commodity currencies, trading at the 0.70 USD level and above the 0.92 level against the AUD; US yields lower, with the curve flattening, local rates followed at the long end of the market

NZD strongest amongst the underperforming commodity currencies, trading at the 0.70 USD level and above the 0.92 level against the AUD; US yields lower, with the curve flattening, local rates followed at the long end of the market