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Stuart Ritson
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Risk sentiment stayed fragile, with equities under pressure alongside geopolitical and energy uncertainty. Markets pare Fed hike expectations, shifting the focus from inflation risk to growth downside. Material steepening for the treasury curve
Risk sentiment stayed fragile, with equities under pressure alongside geopolitical and energy uncertainty. Markets pare Fed hike expectations, shifting the focus from inflation risk to growth downside. Material steepening for the treasury curve
Risk sentiment improved modestly as markets priced some chance of Middle East de‑escalation. Equities are higher and global bond markets retraced part of the recent sell‑off. Brent crude prices oscillated near US$100/bbl. FX moves were subdued
Risk sentiment improved modestly as markets priced some chance of Middle East de‑escalation. Equities are higher and global bond markets retraced part of the recent sell‑off. Brent crude prices oscillated near US$100/bbl. FX moves were subdued
Large moves higher in global bond yields led by shorter maturities. Investor risk appetite remains subdued - global equities under pressure. ECB leaves rates unchanged as markets reflect expectations of hikes ahead. Ditto Bank of England
Large moves higher in global bond yields led by shorter maturities. Investor risk appetite remains subdued - global equities under pressure. ECB leaves rates unchanged as markets reflect expectations of hikes ahead. Ditto Bank of England
US Federal Reserve keeps rates steady and notes uncertainty from Iran. FOMC continues to signal one rate cut this year. Oil prices gained after an Iranian gas field was hit weighing on risk-sensitive assets
US Federal Reserve keeps rates steady and notes uncertainty from Iran. FOMC continues to signal one rate cut this year. Oil prices gained after an Iranian gas field was hit weighing on risk-sensitive assets
Conflict in the Middle East continues to weigh on investor risk appetite. Brent crude closes the week above US$100 per barrel. US dollar makes broad based gains
Conflict in the Middle East continues to weigh on investor risk appetite. Brent crude closes the week above US$100 per barrel. US dollar makes broad based gains
Weak investor sentiment amid ongoing conflict weighs on risk sensitive markets. Front end treasury yields higher. Market pricing indicates less than one Fed rate cut this year
Weak investor sentiment amid ongoing conflict weighs on risk sensitive markets. Front end treasury yields higher. Market pricing indicates less than one Fed rate cut this year
Oil prices surge higher - Brent crude approaches US$93 per barrel. US labour market weaker than expected. Risk sensitive assets under pressure. Whipsaw price action for US treasuries
Oil prices surge higher - Brent crude approaches US$93 per barrel. US labour market weaker than expected. Risk sensitive assets under pressure. Whipsaw price action for US treasuries
Risk sentiment stabilises with US and European equities rebounding. Oil prices pulled back from recent highs as the US signalled possible measures to ease Middle East supply risks. US services ISM surprised to the upside
Risk sentiment stabilises with US and European equities rebounding. Oil prices pulled back from recent highs as the US signalled possible measures to ease Middle East supply risks. US services ISM surprised to the upside
US-Israeli strikes on Iran have increased geopolitical uncertainty, pointing to higher oil prices and renewed demand for safe‑haven assets. Banks under pressure on private credit concerns. 10Y US treasuries trade towards the low point from October
US-Israeli strikes on Iran have increased geopolitical uncertainty, pointing to higher oil prices and renewed demand for safe‑haven assets. Banks under pressure on private credit concerns. 10Y US treasuries trade towards the low point from October
Buoyant risk sentiment supports global equities ahead of key Nvidia results. Yen weakens and JGB curve steepens after the government nominated two dovish-leaning policy board members
Buoyant risk sentiment supports global equities ahead of key Nvidia results. Yen weakens and JGB curve steepens after the government nominated two dovish-leaning policy board members
US equities rise on the prospect of relief from landmark tariff decision. US Treasury yields edge higher and curve steepens
US equities rise on the prospect of relief from landmark tariff decision. US Treasury yields edge higher and curve steepens
Crude oil prices higher amid rising geopolitical tensions in the Middle East. US equities slip. US Treasury yields unchanged, US dollar is marginally firmer
Crude oil prices higher amid rising geopolitical tensions in the Middle East. US equities slip. US Treasury yields unchanged, US dollar is marginally firmer
Benign US CPI data supports a decline in US treasury yields. US equities were stable after the previous session's AI-driven selloff. Currency markets subdued
Benign US CPI data supports a decline in US treasury yields. US equities were stable after the previous session's AI-driven selloff. Currency markets subdued
Soft US retail sales data bolsters the case for Fed easing. US Treasury yields decline led by longer maturities. Yen gains against the US dollar while moves in other G10 currencies were modest
Soft US retail sales data bolsters the case for Fed easing. US Treasury yields decline led by longer maturities. Yen gains against the US dollar while moves in other G10 currencies were modest
US equities rebound into the end of last week. US Treasury yields higher. US consumer sentiment improves but concerns remain about the labour market
US equities rebound into the end of last week. US Treasury yields higher. US consumer sentiment improves but concerns remain about the labour market
US equity markets were mixed, with a continued rotation out of technology stocks. US Treasuries stable with limited reaction to a firm services ISM. US dollar broadly stronger
US equity markets were mixed, with a continued rotation out of technology stocks. US Treasuries stable with limited reaction to a firm services ISM. US dollar broadly stronger
Markets digest Kevin Warsh’s nomination as Fed chair. US dollar advances. Treasury curve steeper and S&P closes lower. Extreme volatility in precious metals continues
Markets digest Kevin Warsh’s nomination as Fed chair. US dollar advances. Treasury curve steeper and S&P closes lower. Extreme volatility in precious metals continues
US equities fall on concerns about spending on AI infrastructure. Oil prices underpinned after Trump threats against Iran. Precious metals volatile
US equities fall on concerns about spending on AI infrastructure. Oil prices underpinned after Trump threats against Iran. Precious metals volatile
Following Trump's championing of a weaker US dollar, Bessent reaffirms the US "strong dollar" policy and it is absolutely not intervening in dollar-yen markets. RBA set to hike after high CPI inflation data
Following Trump's championing of a weaker US dollar, Bessent reaffirms the US "strong dollar" policy and it is absolutely not intervening in dollar-yen markets. RBA set to hike after high CPI inflation data
US dollar remains under pressure. The euro reached multi-year highs while the NZD is back above 60 USc. US consumer confidence subdued. US labour market indicators are weak
US dollar remains under pressure. The euro reached multi-year highs while the NZD is back above 60 USc. US consumer confidence subdued. US labour market indicators are weak
US treasury yields rose after Trump comments on chance of Kevin Hassett becoming the next Federal Reserve Chair. Trump to impose 10% tariffs on European countries until they support his ambition to acquire Greenland
US treasury yields rose after Trump comments on chance of Kevin Hassett becoming the next Federal Reserve Chair. Trump to impose 10% tariffs on European countries until they support his ambition to acquire Greenland
US equity markets rebound. A decline in US jobless claims underpinned the US dollar against European currencies. Oil prices sharply lower after an apparent easing in US-Iran tensions
US equity markets rebound. A decline in US jobless claims underpinned the US dollar against European currencies. Oil prices sharply lower after an apparent easing in US-Iran tensions
Rising geopolitical tensions hit risk sentiment and weigh on US equities. Limited market rection to US retail sales and PPI data. Oil prices extend recent gain. Metals continue winning streak
Rising geopolitical tensions hit risk sentiment and weigh on US equities. Limited market rection to US retail sales and PPI data. Oil prices extend recent gain. Metals continue winning streak
US core CPI undershoots expectations for the second consecutive month. Oil prices gain 3% and approach two-month highs. US dollar recovers from the decline earlier in the week
US core CPI undershoots expectations for the second consecutive month. Oil prices gain 3% and approach two-month highs. US dollar recovers from the decline earlier in the week
Fed Chair Powell reveals Justice Department criminal threats raising concerns over central bank independence. Precious metals reach record highs. US dollar weaker against G10 currencies. NZD outperforms
Fed Chair Powell reveals Justice Department criminal threats raising concerns over central bank independence. Precious metals reach record highs. US dollar weaker against G10 currencies. NZD outperforms