Following on from our earlier briefing, things are moving quickly and it is probably worth some updates.
1. In our earlier briefing we noted that the S&P500 was down -1.0%. It is now up +0.6% near the end of their Thursday session.
2. Earlier, we noted that gold was at US$1924/oz and up +US$14 in a day. It is now at US$1883, and a subsequent -US$41 retreat.
3. Earlier we said bitcoin was at US$35,865 after a -7.4% fall on extremely volatile trading. It is now at US$37,512.
4. Earlier we pointed to an aluminium price that was sharply higher. It still is. And the wheat price is even higher.
5. Earlier we said the UST 10yr yield was down -6 bps at 1.92. It is now at 1.97% recovering 5 bps of that fall.
6. The Fear & Greed index has moved much further to the Fear side.
7. Earlier we noted that oil prices were up $3.50 to US$95/bbl in the US, US$98.50 as the international price. This has fallen back to under US$92/bbl in the US, to US$95 international.
8. Earlier, we noted the NZ Govt 10 year benchmark was down -3 bps to 2.77%. It is now back up on a broad rise across most terms, with the 10yr at 2.80% now.
9. Earlier we noted the NZD had dropped hard, down more than -1c to 66.7 USc. It is now back up over 67 USc, a small +¼c recovery.
9 Comments
Earlier we noted that oil prices were up $3.50 to US$95/bbl in the US, US$98.50 as the international price. This has fallen back to under US$92/bbl in the US, to US$95 international.
I expect stringent sanctions, but nothing on energy -- bankers, ships and oligarch," Bob McNally, a former White House official who is president of consultant Rapidan Energy Group, told Bloomberg. "They don't want to add upward pressure on oil prices -- they are absolutely terrified," McNally said.
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