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Stuart Ritson
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US equities lost ground as treasury yields moved sharply higher impacting risk sentiment. The Bank of Canada left rates steady at 5% as expected. Markets look ahead to the ECB meeting this evening and US Q3 GDP data
26th Oct 23, 7:49am
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US equities lost ground as treasury yields moved sharply higher impacting risk sentiment. The Bank of Canada left rates steady at 5% as expected. Markets look ahead to the ECB meeting this evening and US Q3 GDP data
Global bonds markets under pressure with US treasuries making fresh multi-year highs ahead of a widely anticipated speech by Fed Chair Powell. Oil prices higher. The Chinese economy expanded 4.9% in Q3, faster than expected
19th Oct 23, 7:54am
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Global bonds markets under pressure with US treasuries making fresh multi-year highs ahead of a widely anticipated speech by Fed Chair Powell. Oil prices higher. The Chinese economy expanded 4.9% in Q3, faster than expected
Rising investor risk aversion hangs over global markets. Global equities fell and flows into safe haven assets picked up. Both oil and gold surged. US consumer sentiment fell to the lowest level since May
16th Oct 23, 7:23am
Rising investor risk aversion hangs over global markets. Global equities fell and flows into safe haven assets picked up. Both oil and gold surged. US consumer sentiment fell to the lowest level since May
US Fed in 'wait and see' mode with PPI slightly higher than expected and eyes on US CPI. China considers raising 2023 budget deficit to allow for more stimulus
12th Oct 23, 7:52am
US Fed in 'wait and see' mode with PPI slightly higher than expected and eyes on US CPI. China considers raising 2023 budget deficit to allow for more stimulus
US nonfarm payrolls easily beat expectations resulting in significant moves across asset markets. They rose double the consensus estimate, with sizable upward revisions to previous months. US treasuries sold off aggressively following the data
9th Oct 23, 7:35am
US nonfarm payrolls easily beat expectations resulting in significant moves across asset markets. They rose double the consensus estimate, with sizable upward revisions to previous months. US treasuries sold off aggressively following the data
Markets stable ahead of US labour data. Oil down -14% from September highs. US initial jobless claims steady. Global bond markets take pause from the aggressive recent sell-off
6th Oct 23, 7:31am
Markets stable ahead of US labour data. Oil down -14% from September highs. US initial jobless claims steady. Global bond markets take pause from the aggressive recent sell-off
Global bond yields pulled back from multi-year highs. The ADP estimate of US private non-farm payrolls lower than consensus estimates. Oil prices fell to the lowest level since early September
5th Oct 23, 7:50am
Global bond yields pulled back from multi-year highs. The ADP estimate of US private non-farm payrolls lower than consensus estimates. Oil prices fell to the lowest level since early September
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
2nd Oct 23, 7:43am
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
21st Sep 23, 7:54am
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
18th Sep 23, 7:45am
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
14th Sep 23, 7:52am
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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
11th Sep 23, 7:24am
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
7th Sep 23, 8:06am
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
4th Sep 23, 7:30am
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
31st Aug 23, 7:58am
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
28th Aug 23, 7:20am
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
24th Aug 23, 7:52am
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
21st Aug 23, 7:33am
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
17th Aug 23, 8:09am
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
14th Aug 23, 7:25am
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
10th Aug 23, 8:03am
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
7th Aug 23, 7:15am
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
1st Aug 23, 7:55am
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
31st Jul 23, 7:41am
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
25th Jul 23, 7:42am
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