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Jason Wong

About

Jason Wong is BNZ’s currency strategist, producing analysis that informs the NZD view. He is also a part of National Australia Bank’s (NAB) Global FX Strategy team, which covers currency markets more broadly, with a focus on the G10 currencies.

Member for

9 years 7 months

Latest articles

US rates rise, bond market under pressure
10-year US treasury yields continue their rise which should flow through to local markets today. Local market in wait-and-see mode
12th Jul 16, 7:36am
by Jason Wong
10-year US treasury yields continue their rise which should flow through to local markets today. Local market in wait-and-see mode
Knee-jerk reaction to US jobs data
10-year US treasury yield jumps on non-farm payroll data; NZ yield curve flattens further; market still pricing in OCR cut by November
11th Jul 16, 7:40am
by Jason Wong
10-year US treasury yield jumps on non-farm payroll data; NZ yield curve flattens further; market still pricing in OCR cut by November
US unemployment ticks higher
US jobs data shows strong headline number, details softer; NZD closing in on 14-month high; Fear index near year lows; AUD climbs as current government retained
11th Jul 16, 7:15am
by Jason Wong
US jobs data shows strong headline number, details softer; NZD closing in on 14-month high; Fear index near year lows; AUD climbs as current government retained
NZD finds plenty of friends
NZD remains well supported as GBP struggles; BoE to ease monetary policy; EU's credit rating cut by S&P; equity markets continue to recover
1st Jul 16, 8:31am
by Jason Wong
NZD remains well supported as GBP struggles; BoE to ease monetary policy; EU's credit rating cut by S&P; equity markets continue to recover
Credit spreads continue to unwind
Local risk premiums back to pre-Brexit levels. Good local data pushes likelihood of more RBNZ easing back. Economists expect the UK to fall into recession
1st Jul 16, 8:10am
by Jason Wong
2
Local risk premiums back to pre-Brexit levels. Good local data pushes likelihood of more RBNZ easing back. Economists expect the UK to fall into recession
Markets continue to rally
NZD back up through 0.71; USD weaker across the board; equity markets put on strong showing; Brexit may not occur if UK never invoke article 50
30th Jun 16, 8:04am
by Jason Wong
1
NZD back up through 0.71; USD weaker across the board; equity markets put on strong showing; Brexit may not occur if UK never invoke article 50
Bond risks repriced
Chances for a US rate hike fade. Chances for a NZ rate cut also fade. Global bond markets stabilise as Brexit risks isolated to Europe
30th Jun 16, 7:50am
by Jason Wong
Chances for a US rate hike fade. Chances for a NZ rate cut also fade. Global bond markets stabilise as Brexit risks isolated to Europe
Relief rally
Risk assets bounce back; German won't let Britain cherry pick the most beneficial parts of EU membership; NZD & AUD strengthen in tandem
29th Jun 16, 8:08am
by Jason Wong
Risk assets bounce back; German won't let Britain cherry pick the most beneficial parts of EU membership; NZD & AUD strengthen in tandem
Bounce back
Markets take a less risk-averse tone. They even reduce their bets that the RBNZ will cut again. Credit spreads narrow
29th Jun 16, 7:53am
by Jason Wong
3
Markets take a less risk-averse tone. They even reduce their bets that the RBNZ will cut again. Credit spreads narrow
Credit spreads under pressure
Benchmark rates tumble everwhere as sentiment sours for risk assets. Expect local swap rates to fall today following main market moves. CDS spreads widen
28th Jun 16, 8:41am
by Jason Wong
Benchmark rates tumble everwhere as sentiment sours for risk assets. Expect local swap rates to fall today following main market moves. CDS spreads widen
A sea of red across markets
Fallout from Brexit vote continues, Cameron rejects second referendum; NZD & AUD underperform; China devalues currency by 0.9% against USD
28th Jun 16, 8:28am
by Jason Wong
Fallout from Brexit vote continues, Cameron rejects second referendum; NZD & AUD underperform; China devalues currency by 0.9% against USD
Leave vote shocks market
GBP hit 30-year lows, suffers largest daily fall under current free-float regime; major European currencies caught in the crossfire; financial stocks hit hardest
27th Jun 16, 8:19am
by Jason Wong
GBP hit 30-year lows, suffers largest daily fall under current free-float regime; major European currencies caught in the crossfire; financial stocks hit hardest
Brexit resets market perspectives
Benchmark interest rates fall on Brexit, but rise on 'perphery'. UK to lose AAA status. Markets downgrade chance of US rate rises, upgrade chance of RBNZ rate cuts
27th Jun 16, 7:27am
by Jason Wong
1
Benchmark interest rates fall on Brexit, but rise on 'perphery'. UK to lose AAA status. Markets downgrade chance of US rate rises, upgrade chance of RBNZ rate cuts
Market confident of 'Bremain'
Equity markets rise as if UK vote already decided; NZD/USD blasts through 72c, Yen collapses
24th Jun 16, 8:29am
by Jason Wong
7
Equity markets rise as if UK vote already decided; NZD/USD blasts through 72c, Yen collapses
Global bond markets sell off
Yields rising around the world. Locally, curve steepened. Little upside risk to a UK Remain vote
24th Jun 16, 7:56am
by Jason Wong
Yields rising around the world. Locally, curve steepened. Little upside risk to a UK Remain vote
Banks suspend GBP transfers
USD fall a lagged reaction to Yellen's comments; IMF cuts US growth forecast; market liquidity drying up ahead of Brexit vote
23rd Jun 16, 8:26am
by Jason Wong
1
USD fall a lagged reaction to Yellen's comments; IMF cuts US growth forecast; market liquidity drying up ahead of Brexit vote
US rates meet some resistance
Markets await UK referendum results. US rates trade in tight range, ignoring booming US house sales. Another NZGB tender today
23rd Jun 16, 8:01am
by Jason Wong
Markets await UK referendum results. US rates trade in tight range, ignoring booming US house sales. Another NZGB tender today
Rates firm as markets in waiting mode
Bond traders take to the sidelines, but markets now not expecting a Brexit shock. Few official rate changes expected. Eyes on NZ migration data
22nd Jun 16, 8:56am
by Jason Wong
Bond traders take to the sidelines, but markets now not expecting a Brexit shock. Few official rate changes expected. Eyes on NZ migration data
NZD hits one year high
NZD/USD hits 71.7c before tracking back; Yellen's message to Senate Banking Panel was one of caution; latest Brexit poll shows result too close to call
22nd Jun 16, 8:07am
by Jason Wong
NZD/USD hits 71.7c before tracking back; Yellen's message to Senate Banking Panel was one of caution; latest Brexit poll shows result too close to call
Classic risk-on rally
Sell off in risk assets being unwound; Odds of 80% that UK stays in EU, GBP rising strongly; NZD stronger as commodity currencies climb
21st Jun 16, 9:00am
by Jason Wong
Sell off in risk assets being unwound; Odds of 80% that UK stays in EU, GBP rising strongly; NZD stronger as commodity currencies climb
Risk on
Local rates move higher following global pressures. Eyes on Yellen testimony, RBA minutes
21st Jun 16, 8:06am
by Jason Wong
1
Local rates move higher following global pressures. Eyes on Yellen testimony, RBA minutes
Rates take an upward bias
Bond markets push rates up in the US and Europe off of lows; Fed's Bullard mirrors market thinking. Eyes on UK Brexit poll
20th Jun 16, 8:33am
by Jason Wong
Bond markets push rates up in the US and Europe off of lows; Fed's Bullard mirrors market thinking. Eyes on UK Brexit poll
'Bremain' takes the lead
Murder of pro-EU MP Jo Cox helps firm Bremain sentiment; NZD could strengthen further if Brexit fears moderate
20th Jun 16, 8:22am
by Jason Wong
Murder of pro-EU MP Jo Cox helps firm Bremain sentiment; NZD could strengthen further if Brexit fears moderate
RBNZ rhetoric sends NZD soaring higher
Hawkish comments from RBNZ catches out offshore investors; RBNZ unperturbed by missing inflation target for six straight years; NZD/AUD breaches 96c
10th Jun 16, 8:13am
by Jason Wong
5
Hawkish comments from RBNZ catches out offshore investors; RBNZ unperturbed by missing inflation target for six straight years; NZD/AUD breaches 96c
Local wholesale rates rise following OCR no-change
New Zealand takes a different path to the risk-off mood in most global markets. ECB's bond buying distorting yeilds lower. Eyes on China data
10th Jun 16, 8:09am
by Jason Wong
1
New Zealand takes a different path to the risk-off mood in most global markets. ECB's bond buying distorting yeilds lower. Eyes on China data