Stuart Ritson

Global equities couldn’t extend the previous Fed-inspired rally into the end of last week with major indices closing lower. Gold hit a fresh record high. Fed speaker remarks brought lower UST yields

Global equities couldn’t extend the previous Fed-inspired rally into the end of last week with major indices closing lower. Gold hit a fresh record high. Fed speaker remarks brought lower UST yields

The US Federal Reserve began its easing cycle with a 50bps rate cut. The US dollar fell alongside treasury yields while equity markets gained immediately following the decision

The US Federal Reserve began its easing cycle with a 50bps rate cut. The US dollar fell alongside treasury yields while equity markets gained immediately following the decision

Global asset markets and investors look ahead to the FOMC tomorrow morning. The market is pricing close to a 70% chance for a 50bps cut by the Fed

Global asset markets and investors look ahead to the FOMC tomorrow morning. The market is pricing close to a 70% chance for a 50bps cut by the Fed

Oil prices rebounded from multi-year lows after a storm disrupted production in the Gulf of Mexico. Gold prices hit an all-time high. The ECB cut interest rates as expected

Oil prices rebounded from multi-year lows after a storm disrupted production in the Gulf of Mexico. Gold prices hit an all-time high. The ECB cut interest rates as expected

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

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

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%

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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