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Stuart Ritson
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US nonfarm payrolls weaker than expected pointing towards a cooling in US labour markets. The USD gained particularly against commodity currencies. Equities fell. UST yields declined as the yield curve steepened
9th Sep 24, 7:20am
US nonfarm payrolls weaker than expected pointing towards a cooling in US labour markets. The USD gained particularly against commodity currencies. Equities fell. UST yields declined as the yield curve steepened
Equity markets remain soft ahead of key US labour market data. Treasury yields and the US dollar are modestly weaker. Brent crude prices stabilised following Opec+ postponed production increase
6th Sep 24, 7:43am
Equity markets remain soft ahead of key US labour market data. Treasury yields and the US dollar are modestly weaker. Brent crude prices stabilised following Opec+ postponed production increase
Cooling US labour market led to lower treasury yields. US job openings, considered a proxy for labour demand, fell to the lowest level in more than three years. The Bank of Canada cut rates by 25bps to 4.25%
5th Sep 24, 7:42am
Cooling US labour market led to lower treasury yields. US job openings, considered a proxy for labour demand, fell to the lowest level in more than three years. The Bank of Canada cut rates by 25bps to 4.25%
Soft tone across global equity markets with the S&P down sharply. US manufacturing ISM remained soft. Oil prices fell sharply to the lowest level since last December with a deal expected to restore Libyan production
4th Sep 24, 7:34am
Soft tone across global equity markets with the S&P down sharply. US manufacturing ISM remained soft. Oil prices fell sharply to the lowest level since last December with a deal expected to restore Libyan production
Asset markets were confined to narrow ranges with limited economic data and the Labor Day holiday in the US weighing on market activity. European bond yields traded modestly higher. The AUD outperformed
3rd Sep 24, 7:39am
Asset markets were confined to narrow ranges with limited economic data and the Labor Day holiday in the US weighing on market activity. European bond yields traded modestly higher. The AUD outperformed
US inflation data benign supporting equity gains. Eurozone inflation fell supporting the case for the ECB to reduce rates. Global bonds ended higher in yield and the US dollar gained. Oil prices fell
2nd Sep 24, 7:12am
US inflation data benign supporting equity gains. Eurozone inflation fell supporting the case for the ECB to reduce rates. Global bonds ended higher in yield and the US dollar gained. Oil prices fell
Treasury yields fell led by the front end. The US dollar index extended its recent decline reaching new lows for the year. US payroll growth in the year to March was revised down. FOMC minutes pointed to a September rate cut
22nd Aug 24, 7:47am
Treasury yields fell led by the front end. The US dollar index extended its recent decline reaching new lows for the year. US payroll growth in the year to March was revised down. FOMC minutes pointed to a September rate cut
Global asset markets subdued, but S&P500 rose for a seventh straight day, up +4% for the week. Gold rises to frest all-time high
19th Aug 24, 7:18am
Global asset markets subdued, but S&P500 rose for a seventh straight day, up +4% for the week. Gold rises to frest all-time high
Stronger than expected US retail sales and jobless claims data helped dispel concerns about the US economic slowdown and sent equities and bond yields higher
16th Aug 24, 7:43am
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Stronger than expected US retail sales and jobless claims data helped dispel concerns about the US economic slowdown and sent equities and bond yields higher
Key US inflation data was in line with consensus estimates and had limited lasting market impact. NZD/USD was stable in offshore trade, following its 1% fall yesterday
15th Aug 24, 7:49am
Key US inflation data was in line with consensus estimates and had limited lasting market impact. NZD/USD was stable in offshore trade, following its 1% fall yesterday
Rising risk aversion dominates global markets. The VIX index reached a 4-year high. A recovery in the US services ISM helped assuage some concerns about the economic slowdown
6th Aug 24, 7:45am
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Rising risk aversion dominates global markets. The VIX index reached a 4-year high. A recovery in the US services ISM helped assuage some concerns about the economic slowdown
Risk off tone across global markets intensified following soft US labour market data. UST yields declined sharply as the market priced a more aggressive easing cycle by the Fed. Oil prices fell despite rising geopolitical risks
5th Aug 24, 7:38am
Risk off tone across global markets intensified following soft US labour market data. UST yields declined sharply as the market priced a more aggressive easing cycle by the Fed. Oil prices fell despite rising geopolitical risks
The US Federal Reserve left rates unchanged as expected but softened its language on inflation and signaled it is getting closer to lowering rates. Global equity markets staged a strong rally while global bond yields are generally lower outside of Japan
1st Aug 24, 7:42am
The US Federal Reserve left rates unchanged as expected but softened its language on inflation and signaled it is getting closer to lowering rates. Global equity markets staged a strong rally while global bond yields are generally lower outside of Japan
US treasury yields fell across the curve supported by weakening consumption and benign inflation data. Currency markets were subdued. S&P500 makes partial recovery
29th Jul 24, 7:29am
US treasury yields fell across the curve supported by weakening consumption and benign inflation data. Currency markets were subdued. S&P500 makes partial recovery
Global equity markets declined for the second consecutive session. Equities are beginning to price in more political risk. The US dollar gained against G10 currencies
19th Jul 24, 7:46am
Global equity markets declined for the second consecutive session. Equities are beginning to price in more political risk. The US dollar gained against G10 currencies
Key Fed officials suggest greater confidence in the disinflationary trend. Technology stocks led declines in global equities amid concerns about tighter restrictions from the US government on exports to China
18th Jul 24, 7:33am
Key Fed officials suggest greater confidence in the disinflationary trend. Technology stocks led declines in global equities amid concerns about tighter restrictions from the US government on exports to China
The US Treasury yield curve flattened and currency markets are little changed. Gold hit a record high of US$2465 an ounce. US equities advanced following unexpectedly strong retail sales data
17th Jul 24, 7:51am
The US Treasury yield curve flattened and currency markets are little changed. Gold hit a record high of US$2465 an ounce. US equities advanced following unexpectedly strong retail sales data
Powell looks to rate cuts, but without saying when. The US treasury curve has continued to steepen. 30-year yields are above 2-year yields for the first time since November. China’s Q2 GDP data was weaker than expected
16th Jul 24, 8:07am
Powell looks to rate cuts, but without saying when. The US treasury curve has continued to steepen. 30-year yields are above 2-year yields for the first time since November. China’s Q2 GDP data was weaker than expected
Markets looked past strong US PPI data. UST 10-yr yields dipped below 4.2% a level which has contained the downside in recent months. The yield curve continued to steepen. The US dollar remained under pressure particularly against the yen
15th Jul 24, 7:31am
Markets looked past strong US PPI data. UST 10-yr yields dipped below 4.2% a level which has contained the downside in recent months. The yield curve continued to steepen. The US dollar remained under pressure particularly against the yen
Global equity markets made solid gains with the S&P trading above 5,600. Markets were largely subdued lacking catalysts. Investors are looking ahead to key US CPI data this evening
11th Jul 24, 7:43am
Global equity markets made solid gains with the S&P trading above 5,600. Markets were largely subdued lacking catalysts. Investors are looking ahead to key US CPI data this evening
Weaker than expected US labour market data saw investors bring forward expectations for rate cuts by the US Fed. Early projections suggest the left wing coalition has unexpectedly won the French election raising concerns about the fiscal backdrop
8th Jul 24, 7:26am
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Weaker than expected US labour market data saw investors bring forward expectations for rate cuts by the US Fed. Early projections suggest the left wing coalition has unexpectedly won the French election raising concerns about the fiscal backdrop
Global markets subdued in shadow of US holiday. Polling that projects Marine Le Pen’s failure supported sentiment towards European assets. Market focus turns to upcoming key US labour market data
5th Jul 24, 7:37am
Global markets subdued in shadow of US holiday. Polling that projects Marine Le Pen’s failure supported sentiment towards European assets. Market focus turns to upcoming key US labour market data
A series of weaker than expected economic prints, headlined by services ISM which slumped to a 4-year low, strengthened the case for Fed rate cuts this year. US treasury yields fell and the S&P closed at a fresh record high
4th Jul 24, 7:44am
A series of weaker than expected economic prints, headlined by services ISM which slumped to a 4-year low, strengthened the case for Fed rate cuts this year. US treasury yields fell and the S&P closed at a fresh record high
Fed Chair Powell sees recent fall in the PCE ‘really good progress’ but still needs to see more progress. US job openings unexpectedly rise. European CPI slowed
3rd Jul 24, 7:39am
Fed Chair Powell sees recent fall in the PCE ‘really good progress’ but still needs to see more progress. US job openings unexpectedly rise. European CPI slowed
US dollar generally firmer amid higher UST yields. China 10-year bond yields fell to a record low. Risk premia on European assets have reduced on lower chance of far-right victory in France
2nd Jul 24, 7:41am
US dollar generally firmer amid higher UST yields. China 10-year bond yields fell to a record low. Risk premia on European assets have reduced on lower chance of far-right victory in France