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Nick Smyth
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Trouble in Hong Kong and Argentina adds to Chinese credit data concerns, pushing investors into a risk-averse mood and boosting safe-haven currencies
13th Aug 19, 7:51am
Trouble in Hong Kong and Argentina adds to Chinese credit data concerns, pushing investors into a risk-averse mood and boosting safe-haven currencies
US tariffs remaining imports from China. Global interest rates dive. Equities spike lower. AUD hardest hit. Eyes now on US non-farm payrolls
2nd Aug 19, 7:40am
US tariffs remaining imports from China. Global interest rates dive. Equities spike lower. AUD hardest hit. Eyes now on US non-farm payrolls
Markets greet US Fed rate cut with sharp equity falls, a rising USD, and a flattened US Treasury yield curve. The NZD/AUD cross pushed lower on better AU data and weaker NZ data
1st Aug 19, 7:54am
Markets greet US Fed rate cut with sharp equity falls, a rising USD, and a flattened US Treasury yield curve. The NZD/AUD cross pushed lower on better AU data and weaker NZ data
Equity markets fell overnight after Trump hit out at China for continuing to “ripoff” the US; GBP has stabilised overnight after falling further during the Asian trading session; NZD and AUD have continued to move lower
31st Jul 19, 7:43am
Equity markets fell overnight after Trump hit out at China for continuing to “ripoff” the US; GBP has stabilised overnight after falling further during the Asian trading session; NZD and AUD have continued to move lower
Most currencies stable ahead of central bank rate reviews. But the UK pound falls as a no-deal Brexit looks almost certain and the EU rejects Johnson taunts. AU and NZ interest rates move lower
30th Jul 19, 8:43am
Most currencies stable ahead of central bank rate reviews. But the UK pound falls as a no-deal Brexit looks almost certain and the EU rejects Johnson taunts. AU and NZ interest rates move lower
US dollar rises on policy guidance. Share buybacks push US equities to record highs. US Q2 GDP beats estimates, but down sharply from Q1. NZD and AUD weaken. Trade talks restart but expectations low
29th Jul 19, 8:53am
US dollar rises on policy guidance. Share buybacks push US equities to record highs. US Q2 GDP beats estimates, but down sharply from Q1. NZD and AUD weaken. Trade talks restart but expectations low
Equities higher on some better logistics earnings, but key manufacturers slip back. AUD weakens after Westpac sees even lower rates. Eyes on ECB for signs of imminent easing
25th Jul 19, 7:37am
Equities higher on some better logistics earnings, but key manufacturers slip back. AUD weakens after Westpac sees even lower rates. Eyes on ECB for signs of imminent easing
US yield curve continued to steepen overnight; Fed Chair Powell’s Senate testimony didn’t break any new ground; equities and currencies have consolidated overnight; NZ 10 year swap rate traded 6bps higher
12th Jul 19, 8:04am
US yield curve continued to steepen overnight; Fed Chair Powell’s Senate testimony didn’t break any new ground; equities and currencies have consolidated overnight; NZ 10 year swap rate traded 6bps higher
Short-end US rates and the USD fell after a dovish testimony from Fed Chair Powell overnight; US equity markets rose to new record highs; NZD had a mini ‘flash crash’ yesterday afternoon but it has risen strongly overnight amid broad-based USD weakness
11th Jul 19, 8:29am
Short-end US rates and the USD fell after a dovish testimony from Fed Chair Powell overnight; US equity markets rose to new record highs; NZD had a mini ‘flash crash’ yesterday afternoon but it has risen strongly overnight amid broad-based USD weakness
There has been little movement in either US bonds or equity markets over the past 24 hours; NZD has drifted down to 0.66 against a backdrop of a slightly stronger USD; GBP fell to its lowest level since April 2017
10th Jul 19, 7:59am
There has been little movement in either US bonds or equity markets over the past 24 hours; NZD has drifted down to 0.66 against a backdrop of a slightly stronger USD; GBP fell to its lowest level since April 2017
US Treasury yields have largely held onto their post-payrolls gains overnight while equity markets have fallen modestly; NZD is little changed from Friday night’s close; NZ rates opened higher but gradually drifted lower
9th Jul 19, 7:43am
US Treasury yields have largely held onto their post-payrolls gains overnight while equity markets have fallen modestly; NZD is little changed from Friday night’s close; NZ rates opened higher but gradually drifted lower
US rates and the USD increased sharply on Friday night after stronger than expected payrolls led the market to scale back expectations of a 50bp Fed rate cut in July; amidst the stronger USD, the NZD underperformed and fell almost 1%
8th Jul 19, 8:27am
US rates and the USD increased sharply on Friday night after stronger than expected payrolls led the market to scale back expectations of a 50bp Fed rate cut in July; amidst the stronger USD, the NZD underperformed and fell almost 1%
US cash market closed for Independence Day and no major data released; NZD has reversed some of its outperformance from yesterday and has slipped back below 0.67; focus tonight is on the monthly US non-farm payrolls release
5th Jul 19, 8:09am
US cash market closed for Independence Day and no major data released; NZD has reversed some of its outperformance from yesterday and has slipped back below 0.67; focus tonight is on the monthly US non-farm payrolls release
Global rates continued to head lower overnight as the market readies for a wave of central bank easing; lower rate outlook has boosted equities; NZD has outperformed, alongside the AUD, and has risen back above 0.67
4th Jul 19, 7:35am
Global rates continued to head lower overnight as the market readies for a wave of central bank easing; lower rate outlook has boosted equities; NZD has outperformed, alongside the AUD, and has risen back above 0.67
Global rates fell sharply overnight after BoE Governor Carney warned that an intensification of trade tensions had the potential to “shipwreck the global economy”; NZD is unchanged from this time yesterday
3rd Jul 19, 7:44am
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Global rates fell sharply overnight after BoE Governor Carney warned that an intensification of trade tensions had the potential to “shipwreck the global economy”; NZD is unchanged from this time yesterday
US equities have reversed most of their initial gains while US bond yields are modestly higher; USD has performed strongly overnight, which has taken the NZD back below 0.67; AUD opened slightly higher on Monday morning
2nd Jul 19, 8:11am
US equities have reversed most of their initial gains while US bond yields are modestly higher; USD has performed strongly overnight, which has taken the NZD back below 0.67; AUD opened slightly higher on Monday morning
Presidents Trump and Xi agreed to a ceasefire in the US-China trade war; while existing tariffs on Chinese imports will remain in place, the outcome will be seen as positive for risk assets, the NZD and the AUD to start the week; 10 year US Treasury yield
1st Jul 19, 8:30am
Presidents Trump and Xi agreed to a ceasefire in the US-China trade war; while existing tariffs on Chinese imports will remain in place, the outcome will be seen as positive for risk assets, the NZD and the AUD to start the week; 10 year US Treasury yield
Equity markets nudged up and bond yields slipped lower; big mover has been oil; AUD has underperformed after yesterday’s labour market report revealed a higher than expected unemployment rate, while the NZD is little changed
14th Jun 19, 8:05am
Equity markets nudged up and bond yields slipped lower; big mover has been oil; AUD has underperformed after yesterday’s labour market report revealed a higher than expected unemployment rate, while the NZD is little changed
Boosted market expectations of Fed rate cuts led to falls in US rates and a steepening of the yield curve; there was only a short-lived positive impact on equities; USD has also strengthened
13th Jun 19, 8:27am
Boosted market expectations of Fed rate cuts led to falls in US rates and a steepening of the yield curve; there was only a short-lived positive impact on equities; USD has also strengthened
US equities initially made gains after news that China would incentivise more infrastructure investment, but the move has since reversed; NZD has underperformed and is sitting just under 0.66; US bonds have largely mirrored those moves in equities
12th Jun 19, 8:33am
US equities initially made gains after news that China would incentivise more infrastructure investment, but the move has since reversed; NZD has underperformed and is sitting just under 0.66; US bonds have largely mirrored those moves in equities
Equities, bond yields and the USD are all higher; NZD has underperformed; hasn’t been much fresh news on the US-China trade front; GBP fell 0.4% after much weaker than expected GDP
11th Jun 19, 8:01am
Equities, bond yields and the USD are all higher; NZD has underperformed; hasn’t been much fresh news on the US-China trade front; GBP fell 0.4% after much weaker than expected GDP
US Treasury yields have drifted lower, aided by a dovish speech by Fed Vice Chair Clarida; New Zealand government bond yields moved higher yesterday; the broader theme still remains one of USD strength
31st May 19, 8:15am
US Treasury yields have drifted lower, aided by a dovish speech by Fed Vice Chair Clarida; New Zealand government bond yields moved higher yesterday; the broader theme still remains one of USD strength
Equity markets and bond yields lower, as investors remain concerned about a prolonged US-China trade war; 10 year Australian government bond fell below the RBA’s cash rate and NZ rates made record lows across the curve as markets anticipated more central
30th May 19, 8:33am
Equity markets and bond yields lower, as investors remain concerned about a prolonged US-China trade war; 10 year Australian government bond fell below the RBA’s cash rate and NZ rates made record lows across the curve as markets anticipated more central
Global rates continued to fall overnight, with the 10 year US Treasury yield hitting its lowest level since late-2017; US equities were flat-to-slightly lower; USD is generally stronger for a second night running
29th May 19, 7:57am
Global rates continued to fall overnight, with the 10 year US Treasury yield hitting its lowest level since late-2017; US equities were flat-to-slightly lower; USD is generally stronger for a second night running
Equity markets are flat-to-higher, while core European government bond yields have slipped lower after reports that the European Commission was considering fining Italy for breaching its debt rules; NZD is slightly lower to start the week
28th May 19, 8:09am
Equity markets are flat-to-higher, while core European government bond yields have slipped lower after reports that the European Commission was considering fining Italy for breaching its debt rules; NZD is slightly lower to start the week
