Stuart Ritson

Global markets were generally subdued into month-end after large losses for bonds and equities during September. Further signs of easing price pressures in the US and Eurozone

Global markets were generally subdued into month-end after large losses for bonds and equities during September. Further signs of easing price pressures in the US and Eurozone

The US Federal Reserve upwardly revised growth forecasts, the updated quarterly projections signalled one further 25bp hike this year and notably reduced the amount of easing for 2024

The US Federal Reserve upwardly revised growth forecasts, the updated quarterly projections signalled one further 25bp hike this year and notably reduced the amount of easing for 2024

US equities ended last week on a soft note led by technology stocks. US inflation expectations fell more than expected. Better then expected activity data in China provided a temporary boost for Australasian currencies

US equities ended last week on a soft note led by technology stocks. US inflation expectations fell more than expected. Better then expected activity data in China provided a temporary boost for Australasian currencies

Response across financial markets to higher US CPI was largely subdued. Eurozone Industrial production fell. The UK economy contracted more than expected

Response across financial markets to higher US CPI was largely subdued. Eurozone Industrial production fell. The UK economy contracted more than expected

US treasury yields moved higher supporting the US Dollar which rose for the eighth straight week, its longest run since 2005. China consumer prices increased 0.1% y/y in August. Although China edged out of deflation, soft pricing pressures point to weak d

US treasury yields moved higher supporting the US Dollar which rose for the eighth straight week, its longest run since 2005. China consumer prices increased 0.1% y/y in August. Although China edged out of deflation, soft pricing pressures point to weak d

The ISM US services sector survey was stronger than expected. US treasuries extended the recent move higher. The Bank of Canada held rates steady. Asian policy makers have been pushing back against currency weakness

The ISM US services sector survey was stronger than expected. US treasuries extended the recent move higher. The Bank of Canada held rates steady. Asian policy makers have been pushing back against currency weakness

The US labour market report provided further evidence their economy is on track for ‘soft landing’. US treasury yields moved higher lending support to the US Dollar. Crude oil prices now at highest level since November as supplies tighten

The US labour market report provided further evidence their economy is on track for ‘soft landing’. US treasury yields moved higher lending support to the US Dollar. Crude oil prices now at highest level since November as supplies tighten

Softer than expected US economic data increased expectations of the Fed remaining on hold in September which underpinned equities and contributed to lower treasury yields

Softer than expected US economic data increased expectations of the Fed remaining on hold in September which underpinned equities and contributed to lower treasury yields

Powell commits to restrictive policy until inflation beaten. Little market reaction. Lagarde says ECB will also stay restrictive

Powell commits to restrictive policy until inflation beaten. Little market reaction. Lagarde says ECB will also stay restrictive

US and EU PMI surveys point to a greater than expected slowdown in economic activity. This weak data contributed to a large move lower in global bond yields. Initial weakness in European currencies reverse as US data also disappoints

US and EU PMI surveys point to a greater than expected slowdown in economic activity. This weak data contributed to a large move lower in global bond yields. Initial weakness in European currencies reverse as US data also disappoints

US treasury yields marginally lower but remain close to cycle highs. US Dollar stable. But the MSCI World Index declined 2.5% during last week which is the largest fall since the US banking crisis in March

US treasury yields marginally lower but remain close to cycle highs. US Dollar stable. But the MSCI World Index declined 2.5% during last week which is the largest fall since the US banking crisis in March

Stocks fell in Asia reflecting ongoing concerns about the Chinese economy and the growing debt crisis in the property sector. The FOMC minutes revealed most see significant upside risks to inflation which could require further tightening

Stocks fell in Asia reflecting ongoing concerns about the Chinese economy and the growing debt crisis in the property sector. The FOMC minutes revealed most see significant upside risks to inflation which could require further tightening

Above consensus US PPI data raised concerns the downshift in core prices has stalled. UST yields higher with 10-year back towards the highs for 2023. University of Michigan inflation expectations fell

Above consensus US PPI data raised concerns the downshift in core prices has stalled. UST yields higher with 10-year back towards the highs for 2023. University of Michigan inflation expectations fell

USTs and currency markets stay in narrow ranges ahead of US CPI. Brent crude at $88/bbl, the highest levels since January and up 20% since June on tightening supply. China consumer and producer prices both fell

USTs and currency markets stay in narrow ranges ahead of US CPI. Brent crude at $88/bbl, the highest levels since January and up 20% since June on tightening supply. China consumer and producer prices both fell

Markets took direction from the weaker than expected US payrolls data amid the mixed signals. Their jobless rate dipped to 3.5% and average hourly earnings were stronger than expected. The USD fell sharply as did UST yields

Markets took direction from the weaker than expected US payrolls data amid the mixed signals. Their jobless rate dipped to 3.5% and average hourly earnings were stronger than expected. The USD fell sharply as did UST yields

Chinese equities advanced with officials announcing more measures to support the construction sector and boost consumption. The Bank of Japan announced an unscheduled bond purchase operation to slow the move higher in JGB yields

Chinese equities advanced with officials announcing more measures to support the construction sector and boost consumption. The Bank of Japan announced an unscheduled bond purchase operation to slow the move higher in JGB yields

Growing hopes that the US economy can achieve a soft landing where the US Federal Reserve gets inflation under control without triggering a recession. US data showed a cooling in inflation pressures

Growing hopes that the US economy can achieve a soft landing where the US Federal Reserve gets inflation under control without triggering a recession. US data showed a cooling in inflation pressures

Weak purchasing manager surveys in the US and Europe raise concerns about the strength of the global economy. Expectations of large-scale Chinese stimulus being pared back

Weak purchasing manager surveys in the US and Europe raise concerns about the strength of the global economy. Expectations of large-scale Chinese stimulus being pared back

Investors look ahead to central bank policy decisions from the Federal Reserve, European Central Bank and Bank of Japan this week. Japan CPI higher than expected

Investors look ahead to central bank policy decisions from the Federal Reserve, European Central Bank and Bank of Japan this week. Japan CPI higher than expected

‘Soft-landing’ narrative for the US economy gaining momentum amid signs of cooling inflation. US consumer sentiment index easily beat expectations. US treasury yields rebounded. The US Dollar got support from higher US treasury yields

‘Soft-landing’ narrative for the US economy gaining momentum amid signs of cooling inflation. US consumer sentiment index easily beat expectations. US treasury yields rebounded. The US Dollar got support from higher US treasury yields

Softer than expected US inflation data contributed to large moves across global markets. US equities reach 15 month highs. US treasury yields are lower and the US dollar is sharply weaker

Softer than expected US inflation data contributed to large moves across global markets. US equities reach 15 month highs. US treasury yields are lower and the US dollar is sharply weaker

US treasury yields moved lower led by the front end. Curve maintains recent steepening move. Soft consumer and producer price data in China raise concerns

US treasury yields moved lower led by the front end. Curve maintains recent steepening move. Soft consumer and producer price data in China raise concerns

Weaker US payrolls data contributes to lower front end US Treasury yields. 10-year yields marginally higher, up 20bps for the week. Canada payrolls data surprises with strength

Weaker US payrolls data contributes to lower front end US Treasury yields. 10-year yields marginally higher, up 20bps for the week. Canada payrolls data surprises with strength

US economic data beats expectations across durable goods, consumer confidence and new home sales. US equities and Treasury yields higher post-data. PBoC shows increasing discomfort about recent weakness in the Yuan

US economic data beats expectations across durable goods, consumer confidence and new home sales. US equities and Treasury yields higher post-data. PBoC shows increasing discomfort about recent weakness in the Yuan

Global equity markets fell on Friday contributing to the largest weekly pullback since the US regional banking crisis began in March amid concerns about the growth outlook. Advance PMIs for June suggest that the Eurozone economy has slowed sharply

Global equity markets fell on Friday contributing to the largest weekly pullback since the US regional banking crisis began in March amid concerns about the growth outlook. Advance PMIs for June suggest that the Eurozone economy has slowed sharply