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Nick Smyth
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The risk-off backdrop pushed US bond yields lower; currencies saw relatively little movement, although the NZD drifted lower on the day; OPEC announced a larger than expected 1.2m barrels per day supply cut, which boosted oil prices
10th Dec 18, 8:07am
The risk-off backdrop pushed US bond yields lower; currencies saw relatively little movement, although the NZD drifted lower on the day; OPEC announced a larger than expected 1.2m barrels per day supply cut, which boosted oil prices
Wall Street up and greenback down as Fed boss says interest rates 'just below' neutral. Local markets ignore RBNZ FSR. Eyes on NZ business confidence
29th Nov 18, 8:33am
Wall Street up and greenback down as Fed boss says interest rates 'just below' neutral. Local markets ignore RBNZ FSR. Eyes on NZ business confidence
USD is broadly higher once again, although the NZD has bucked the trend and is up slightly on the day; US Treasury yields are also broadly unchanged overnight; GBP is the worst performer over the past 24 hours
28th Nov 18, 8:13am
USD is broadly higher once again, although the NZD has bucked the trend and is up slightly on the day; US Treasury yields are also broadly unchanged overnight; GBP is the worst performer over the past 24 hours
Equities and US bond yields were rising overnight, and crude oil recovered some of its large falls; currency moves have been modest; NZD is trading just under 0.68
27th Nov 18, 7:53am
Equities and US bond yields were rising overnight, and crude oil recovered some of its large falls; currency moves have been modest; NZD is trading just under 0.68
US equities ended the week on a soft note and US Treasury yields declined slightly; EUR weakened, and the USD strengthened; oil prices remained in free-fall due to concerns about oversupply; NZD fell 0.5% on Friday
26th Nov 18, 8:09am
US equities ended the week on a soft note and US Treasury yields declined slightly; EUR weakened, and the USD strengthened; oil prices remained in free-fall due to concerns about oversupply; NZD fell 0.5% on Friday
US equity markets have remained under downward pressure; USD has extended its recent gains; NZD has held up reasonably well, and is down only marginally against the USD overnight; NZ swap rates nudged up slightly yesterday
13th Nov 18, 8:16am
US equity markets have remained under downward pressure; USD has extended its recent gains; NZD has held up reasonably well, and is down only marginally against the USD overnight; NZ swap rates nudged up slightly yesterday
Heavy-handed Chinese moves on setting commercial interest rates overshadows markets. Oil drops into bear territory. Eyes on both Brexit developments, and upcoming Powell comments
12th Nov 18, 7:56am
Heavy-handed Chinese moves on setting commercial interest rates overshadows markets. Oil drops into bear territory. Eyes on both Brexit developments, and upcoming Powell comments
A stronger than expected US non-farm payrolls report led to a sharp rise in US Treasury yields and an appreciation in the USD against G10 currencies; NZD drifted lower to 0.6650; NZ swap rates rose by between 1 to 2.5bps
5th Nov 18, 8:09am
A stronger than expected US non-farm payrolls report led to a sharp rise in US Treasury yields and an appreciation in the USD against G10 currencies; NZD drifted lower to 0.6650; NZ swap rates rose by between 1 to 2.5bps
USD has moved sharply lower across the board over the past 24 hours; NZD is the best performing currency in the G10, up more than 2%; 10 year US Treasury yield is at 3.14%
2nd Nov 18, 8:19am
USD has moved sharply lower across the board over the past 24 hours; NZD is the best performing currency in the G10, up more than 2%; 10 year US Treasury yield is at 3.14%
US and European equity markets have risen strongly and US Treasury yields have moved higher; USD has continued to push higher, helped by better than expected US data; NZD and AUD are the two underperformers
1st Nov 18, 7:46am
US and European equity markets have risen strongly and US Treasury yields have moved higher; USD has continued to push higher, helped by better than expected US data; NZD and AUD are the two underperformers
NZD and AUD have moved higher over the past 24 hours after President Trump discussed the possibility of a “great deal” with China; 10 year US Treasury yield has nudged 1bp higher, in sympathy with the move in equities
31st Oct 18, 7:40am
NZD and AUD have moved higher over the past 24 hours after President Trump discussed the possibility of a “great deal” with China; 10 year US Treasury yield has nudged 1bp higher, in sympathy with the move in equities
More positive tone to risk assets has helped Treasury yields push a little higher and the JPY underperform; NZD is little changed against the USD from Friday night’s close, although it has made gains on all the crosses
30th Oct 18, 7:57am
More positive tone to risk assets has helped Treasury yields push a little higher and the JPY underperform; NZD is little changed against the USD from Friday night’s close, although it has made gains on all the crosses
US Treasury yields have stabilized somewhat overnight; global bond yields have continued to rise, although NZ rates continue to lag the moves elsewhere; NZD fell to its lowest level since March 2016
5th Oct 18, 8:03am
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US Treasury yields have stabilized somewhat overnight; global bond yields have continued to rise, although NZ rates continue to lag the moves elsewhere; NZD fell to its lowest level since March 2016
USD is stronger across the board on the back of US data; this has pushed the NZD back down towards 0.6535; the 10 year US Treasury yield moved to its highest level since 2011
4th Oct 18, 8:06am
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USD is stronger across the board on the back of US data; this has pushed the NZD back down towards 0.6535; the 10 year US Treasury yield moved to its highest level since 2011
Fed sees further gradual rate hikes as the best way forward; there has been more upward pressure on Italian yields overnight; USD and US Treasury yields have risen marginally; NZD has drifted lower
3rd Oct 18, 8:20am
Fed sees further gradual rate hikes as the best way forward; there has been more upward pressure on Italian yields overnight; USD and US Treasury yields have risen marginally; NZD has drifted lower
US and Canada have come to a last minute deal on a revised NAFTA agreement; S&P500 has moved close to a record high, although Treasury yields have been little moved; NZD is again little changed
2nd Oct 18, 8:08am
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US and Canada have come to a last minute deal on a revised NAFTA agreement; S&P500 has moved close to a record high, although Treasury yields have been little moved; NZD is again little changed
Italy rejects fiscal discipline, set to clash with EU. Risk aversion rises. Euro falls. NZ Govt bond yields fall. US inflation edges up. NAFTA deal close
1st Oct 18, 7:49am
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Italy rejects fiscal discipline, set to clash with EU. Risk aversion rises. Euro falls. NZ Govt bond yields fall. US inflation edges up. NAFTA deal close
US and Chinese equities have risen while the 10 year US Treasury yield broke above 3%, to its highest level since May; NZD and AUD have outperformed against a risk-on backdrop; tariffs largely shrugged off by markets
19th Sep 18, 7:59am
US and Chinese equities have risen while the 10 year US Treasury yield broke above 3%, to its highest level since May; NZD and AUD have outperformed against a risk-on backdrop; tariffs largely shrugged off by markets
So far, the market appears to have put more weight on the likely cancellation of US-China trade talks; USD reversed its gains from Friday; US 10 year Treasury yield broke above 3% last night
18th Sep 18, 7:59am
So far, the market appears to have put more weight on the likely cancellation of US-China trade talks; USD reversed its gains from Friday; US 10 year Treasury yield broke above 3% last night
More tariff threats and actions by the US on China affecting the US little at this time, but impact growing in China. EMs raise rates. US rate doves become hawks
17th Sep 18, 8:07am
More tariff threats and actions by the US on China affecting the US little at this time, but impact growing in China. EMs raise rates. US rate doves become hawks
US equities rose and US Treasury yields fell modestly; NZD is not much higher than this time yesterday; USD weakened after the CPI data; Turkish central bank raised its one week repo rate by a whopping 625bps, which has helped support EM currencies
14th Sep 18, 7:48am
US equities rose and US Treasury yields fell modestly; NZD is not much higher than this time yesterday; USD weakened after the CPI data; Turkish central bank raised its one week repo rate by a whopping 625bps, which has helped support EM currencies
The USD and US rates drift lower. US wants more trade talks with China. Fed sees 'restrictive' rates needed. Oil prices reach four year highs. Eyes on US CPI
13th Sep 18, 7:54am
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The USD and US rates drift lower. US wants more trade talks with China. Fed sees 'restrictive' rates needed. Oil prices reach four year highs. Eyes on US CPI
US Treasury yields moved higher overnight, with the 10 year rate closing in on 3%; NZD made a new low against the USD and sits just above 0.65; GBP is holding above the 1.30 level against the USD
12th Sep 18, 8:03am
US Treasury yields moved higher overnight, with the 10 year rate closing in on 3%; NZD made a new low against the USD and sits just above 0.65; GBP is holding above the 1.30 level against the USD
GBP rose after EU negotiator Michel Barnier said it was “realistic” to reach a deal with the UK by November; NZD is slightly lower against the USD, but has made multi-year lows against the GBP, EUR and JPY; NZ swap rates rose 1 to 2.5bps across the curve
11th Sep 18, 7:58am
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GBP rose after EU negotiator Michel Barnier said it was “realistic” to reach a deal with the UK by November; NZD is slightly lower against the USD, but has made multi-year lows against the GBP, EUR and JPY; NZ swap rates rose 1 to 2.5bps across the curve
Greenback and UST yields moved higher on US non-farm payrolls report, especially the rising wage rate component. Markets expect rate hikes from Fed. EU and UK find compromise
10th Sep 18, 7:40am
Greenback and UST yields moved higher on US non-farm payrolls report, especially the rising wage rate component. Markets expect rate hikes from Fed. EU and UK find compromise