Jason Wong

Market anxiety rises after Trump dodges question on recession. US equities tumble, led by the mega cap stocks; Nasdaq index down over 4%. Weaker risk sentiment supports US Treasuries and JPY

Market anxiety rises after Trump dodges question on recession. US equities tumble, led by the mega cap stocks; Nasdaq index down over 4%. Weaker risk sentiment supports US Treasuries and JPY

Choppy markets on uncertainty over US import tariffs. US equities fall 2%. ECB cuts 25bps as expected. German rates continue to push higher in the wake of the move to ease the debt brake and ramp up defence and infrastructure spending

Choppy markets on uncertainty over US import tariffs. US equities fall 2%. ECB cuts 25bps as expected. German rates continue to push higher in the wake of the move to ease the debt brake and ramp up defence and infrastructure spending

Tariffs go into effect. Equity markets tumble further. Market sees Fed more focused on unemployment mandate than inflation and prices in more Fed easing; US Treasuries curve steepens

Tariffs go into effect. Equity markets tumble further. Market sees Fed more focused on unemployment mandate than inflation and prices in more Fed easing; US Treasuries curve steepens

Market watching the clock, with fresh wave of US import tariffs tariffs due 4 March, US time. US ISM manufacturing survey disappoints. European equities stronger and rates higher on more defence spending in the region; European currencies outperform

Market watching the clock, with fresh wave of US import tariffs tariffs due 4 March, US time. US ISM manufacturing survey disappoints. European equities stronger and rates higher on more defence spending in the region; European currencies outperform

Trump to push ahead with tariffs on Canada and Mexico, an additional 10% tariff to be imposed on Chinese imports. USD broadly stronger on that news; weaker yuan spills over into the NZD and AUD

Trump to push ahead with tariffs on Canada and Mexico, an additional 10% tariff to be imposed on Chinese imports. USD broadly stronger on that news; weaker yuan spills over into the NZD and AUD

Trump pushed out the start date for Mexico and Canada tariffs to 2 April, says tariffs on products from the EU like autos and "other things" will be 25%. US equities recover after recent fall. US 10-year Treasury rate pushes down to a fresh 2025 low

Trump pushed out the start date for Mexico and Canada tariffs to 2 April, says tariffs on products from the EU like autos and "other things" will be 25%. US equities recover after recent fall. US 10-year Treasury rate pushes down to a fresh 2025 low

US equities down for a fourth consecutive day, US Treasury yields down for a fifth day, with the 10-year rate down 10bps and probing fresh 2025 lows, all on increased policy uncertainty. Safe haven currencies higher, commodity currencies underperform

US equities down for a fourth consecutive day, US Treasury yields down for a fifth day, with the 10-year rate down 10bps and probing fresh 2025 lows, all on increased policy uncertainty. Safe haven currencies higher, commodity currencies underperform

Equity markets are weaker, retreating from recent record highs. UST yields slip. USD broadly weaker. Commodity currencies get a boost on trade deal talk. JPY outperforms as JGB yields rise to fresh highs

Equity markets are weaker, retreating from recent record highs. UST yields slip. USD broadly weaker. Commodity currencies get a boost on trade deal talk. JPY outperforms as JGB yields rise to fresh highs

Weaker US homebuilder sentiment, an uplift in UK wage inflation, and an upward surprise in core Canadian CPI inflation. RBA kicks off easing cycle with 25bps cut. The cautious policy outlook was also not particularly surprising

Weaker US homebuilder sentiment, an uplift in UK wage inflation, and an upward surprise in core Canadian CPI inflation. RBA kicks off easing cycle with 25bps cut. The cautious policy outlook was also not particularly surprising

European equities rise to a fresh record highs. President Xi meets with Chinese IT leaders, a strong signal of a turnaround from his crackdown on the sector. RBA widely expected to kick-start easing cycle later this afternoon

European equities rise to a fresh record highs. President Xi meets with Chinese IT leaders, a strong signal of a turnaround from his crackdown on the sector. RBA widely expected to kick-start easing cycle later this afternoon

Ukraine war negotiation talk supports risk sentiment. Higher than expected US PPI data but weak components that feed into PCE deflator; US Treasuries rally, reversing some of previous day's move

Ukraine war negotiation talk supports risk sentiment. Higher than expected US PPI data but weak components that feed into PCE deflator; US Treasuries rally, reversing some of previous day's move

Much stronger US CPI data drive US rates up; just one Fed rate cut this year now priced in. Stronger USD post CPI reverse course. NZD recovers

Much stronger US CPI data drive US rates up; just one Fed rate cut this year now priced in. Stronger USD post CPI reverse course. NZD recovers

BoE cuts policy rate by 25bps to 4.5%. US 10-year rate up modestly overnight but down from NZ close pre-Waitangi Day. Treasury Secretary Bessent targets lower 10-year rate; US ISM services survey underwhelms

BoE cuts policy rate by 25bps to 4.5%. US 10-year rate up modestly overnight but down from NZ close pre-Waitangi Day. Treasury Secretary Bessent targets lower 10-year rate; US ISM services survey underwhelms

Large fallout from Trump tariffs pared back after delay for Mexico announced. Less reaction in the rates market due to offsetting forces; UST curves show mild flattening. NZ rates show notable fall

Large fallout from Trump tariffs pared back after delay for Mexico announced. Less reaction in the rates market due to offsetting forces; UST curves show mild flattening. NZ rates show notable fall

Trump says he'd rather not increase tariffs on China, adding to the sense that tariffs aren't an immediate threat to the economy/market. USD extends losses for the week; Soft US PMI services index adds to the downdraft

Trump says he'd rather not increase tariffs on China, adding to the sense that tariffs aren't an immediate threat to the economy/market. USD extends losses for the week; Soft US PMI services index adds to the downdraft

Trump calls for lower oil prices and lower interest rates, but these benchmarks move little. The NZD rises. Focus today on BoJ meeting where a rate hike is widely expected

Trump calls for lower oil prices and lower interest rates, but these benchmarks move little. The NZD rises. Focus today on BoJ meeting where a rate hike is widely expected

US equities continue to power up towards a fresh record high, albeit led by the IT sector, with narrow gains and most sectors weaker. Trump continues to threaten import tariffs, but the actual path remains unclear

US equities continue to power up towards a fresh record high, albeit led by the IT sector, with narrow gains and most sectors weaker. Trump continues to threaten import tariffs, but the actual path remains unclear

Trump "thinking" about a 25% tariff on Canada and Mexico from 1 Feb; market "thinking" it probably won't happen as market jolt fades; CAD fully recovers from a 5-year low "Massive" announcement on infrastructure coming today

Trump "thinking" about a 25% tariff on Canada and Mexico from 1 Feb; market "thinking" it probably won't happen as market jolt fades; CAD fully recovers from a 5-year low "Massive" announcement on infrastructure coming today

Trump inaugurated; his address outlined priorities. USD broadly weaker down around 1%; NZD up 1.3%. US markets closed for holiday, but equity and Treasury futures nudge higher

Trump inaugurated; his address outlined priorities. USD broadly weaker down around 1%; NZD up 1.3%. US markets closed for holiday, but equity and Treasury futures nudge higher

Trump and President Xi talked on Friday night and "the call was a very good one". US equities ended last week on a strong note. Focus this week will be on Trump's executive orders post inauguration

Trump and President Xi talked on Friday night and "the call was a very good one". US equities ended last week on a strong note. Focus this week will be on Trump's executive orders post inauguration

US retail sales show a robust end to last year. Incoming US Treasury Secretary Bessent gives market-friendly comments. Japanese yen firms as market confident of a rate hike coming

US retail sales show a robust end to last year. Incoming US Treasury Secretary Bessent gives market-friendly comments. Japanese yen firms as market confident of a rate hike coming

US core CPI slightly weaker than markets expected. UK CPI data also softer than expected. BoJ hike next week remain live. NZ rates market continues cross-market underperformance, exacerbated by positioning; NZGB 10yr at a 7-month high

US core CPI slightly weaker than markets expected. UK CPI data also softer than expected. BoJ hike next week remain live. NZ rates market continues cross-market underperformance, exacerbated by positioning; NZGB 10yr at a 7-month high

Modest recovery in US equities after their slump following the Fed's hawkish rate cut. US 10-year rate rises to its highest level since the end of May; curve steepens

Modest recovery in US equities after their slump following the Fed's hawkish rate cut. US 10-year rate rises to its highest level since the end of May; curve steepens

Commodity and Asia-pacific currencies underperform; NZD, AUD, CAD, Asia Dollar index fall to year, or multi-year, lows. US retail sales data conveying robust consumer spending

Commodity and Asia-pacific currencies underperform; NZD, AUD, CAD, Asia Dollar index fall to year, or multi-year, lows. US retail sales data conveying robust consumer spending

PMI data show rising momentum across the services sector in Europe, with the US continuing to outperform. US Treasury yields near session highs after the data; 10-year rate at 4.41%; US equities stronger

PMI data show rising momentum across the services sector in Europe, with the US continuing to outperform. US Treasury yields near session highs after the data; 10-year rate at 4.41%; US equities stronger