Jason Wong
US equities weaker, awaiting Nvidia's results. UST benchmark yields ignore rising Ukraine tensions
21st Nov 24, 7:40am
US equities weaker, awaiting Nvidia's results. UST benchmark yields ignore rising Ukraine tensions
Risk-off & volatility were generated by geopolitical factors, but they quickly settled. US equities firmed, UST yields softened. Commodity currencies rose
20th Nov 24, 7:43am
Risk-off & volatility were generated by geopolitical factors, but they quickly settled. US equities firmed, UST yields softened. Commodity currencies rose
The USD is broadly weaker for a change, falling against most majors. The NZD hit a fresh 2024 low below 58.4 USc before recovering. US equities in modest recovery after last week’s retreats
19th Nov 24, 7:21am
The USD is broadly weaker for a change, falling against most majors. The NZD hit a fresh 2024 low below 58.4 USc before recovering. US equities in modest recovery after last week’s retreats
Trump trade reach exhaustion. US equities down modestly, and US Treasury yields fall, all despite stronger than expected US economic data
15th Nov 24, 7:41am
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Trump trade reach exhaustion. US equities down modestly, and US Treasury yields fall, all despite stronger than expected US economic data
US equity markets at new record highs as markets pared Fed rate cut expectations. The USD is broadly stronger. The NZD and AUD underperform as China’s policy package avoids stimulating consumer spending
11th Nov 24, 7:21am
US equity markets at new record highs as markets pared Fed rate cut expectations. The USD is broadly stronger. The NZD and AUD underperform as China’s policy package avoids stimulating consumer spending
Ahead of the Fed there has been some reversal of the Trump trade in currency and bond markets, while US equities have continued to power ahead. Another cut by the Fed is certain, key will be the tone of the press conference
8th Nov 24, 7:53am
Ahead of the Fed there has been some reversal of the Trump trade in currency and bond markets, while US equities have continued to power ahead. Another cut by the Fed is certain, key will be the tone of the press conference
In the wake of a decisive victory for Trump and the Republican party at the US elections, market movements have been significant. USD rises, UST rates jump
7th Nov 24, 7:46am
In the wake of a decisive victory for Trump and the Republican party at the US elections, market movements have been significant. USD rises, UST rates jump
Despite the uncertain US election outcome, market pricing consistent with “risk-on”, with stronger US equities, higher rates and a broadly weaker USD. RBA gives a reality check that inflation still too high to warrant easing
6th Nov 24, 7:42am
Despite the uncertain US election outcome, market pricing consistent with “risk-on”, with stronger US equities, higher rates and a broadly weaker USD. RBA gives a reality check that inflation still too high to warrant easing
Trump trade reverses. The USD is broadly lower and US rates are lower across the curve led by the long end. Oil prices are up nearly 3% on OPEC+’s delay to increase supply and hawkish Iran talk
5th Nov 24, 7:45am
Trump trade reverses. The USD is broadly lower and US rates are lower across the curve led by the long end. Oil prices are up nearly 3% on OPEC+’s delay to increase supply and hawkish Iran talk
US equities end month on a weak note, on weaker forward guidance. The reaction to the UK Budget continues to reverberate, with higher UK rates, weaker GBP. The BoJ left the door open for a possible December rate hike
1st Nov 24, 7:50am
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US equities end month on a weak note, on weaker forward guidance. The reaction to the UK Budget continues to reverberate, with higher UK rates, weaker GBP. The BoJ left the door open for a possible December rate hike
Oil prices slide 5% as geopolitical risk premium fades. JPY weaker following Japan’s Lower House election. The Trump trade extends, with higher US Treasury yields, higher US equities and a broadly stronger USD
29th Oct 24, 7:21am
Oil prices slide 5% as geopolitical risk premium fades. JPY weaker following Japan’s Lower House election. The Trump trade extends, with higher US Treasury yields, higher US equities and a broadly stronger USD
Market movements modest, with US equities currently showing a small gain, while global rates are lower after their recent rise. Global PMI data were in line with expectations, with small changes in October
25th Oct 24, 7:57am
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Market movements modest, with US equities currently showing a small gain, while global rates are lower after their recent rise. Global PMI data were in line with expectations, with small changes in October
Global rates are broadly higher without a satisfactory explanation. US Treasury yields are up 7-9bps across the curve with some even larger moves in many European countries. Higher rates have driven weaker equity markets
22nd Oct 24, 7:26am
Global rates are broadly higher without a satisfactory explanation. US Treasury yields are up 7-9bps across the curve with some even larger moves in many European countries. Higher rates have driven weaker equity markets
China activity data showed a lift in momentum. Japan CPI inflation now above target for a full 2½ years. US equities extending their record-breaking run
21st Oct 24, 7:20am
China activity data showed a lift in momentum. Japan CPI inflation now above target for a full 2½ years. US equities extending their record-breaking run
Stronger than expected US retail sales data saw the market pare the scope for easier Fed policy and drove higher US Treasury yields. The AUD was supported after a strong labour market report
18th Oct 24, 7:41am
Stronger than expected US retail sales data saw the market pare the scope for easier Fed policy and drove higher US Treasury yields. The AUD was supported after a strong labour market report
US equities modestly higher after yesterday's dip. Soft NZ and UK CPI data drive the market to bring forward projected rate cuts for the RBNZ and BoE. Broad USD strength as the Trump trade continues
17th Oct 24, 7:43am
US equities modestly higher after yesterday's dip. Soft NZ and UK CPI data drive the market to bring forward projected rate cuts for the RBNZ and BoE. Broad USD strength as the Trump trade continues
US equities continue their record-breaking run. Market reaction to the underwhelming weekend policy announcement by China well contained. Signs of a return to the Trump trade, with the USD broadly stronger
15th Oct 24, 7:58am
US equities continue their record-breaking run. Market reaction to the underwhelming weekend policy announcement by China well contained. Signs of a return to the Trump trade, with the USD broadly stronger
The combination of higher oil prices and a strong US ISM services survey has driven US Treasury yields higher. The USD is broadly stronger and GBP is the weakest of the majors
4th Oct 24, 7:42am
The combination of higher oil prices and a strong US ISM services survey has driven US Treasury yields higher. The USD is broadly stronger and GBP is the weakest of the majors
Following yesterday’s volatile session, after Iran’s missile attack on Israel, markets are calmer as they await the next move. The yen is much weaker after dovish comments by Japan’s new PM and the BoJ Governor
3rd Oct 24, 7:41am
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Following yesterday’s volatile session, after Iran’s missile attack on Israel, markets are calmer as they await the next move. The yen is much weaker after dovish comments by Japan’s new PM and the BoJ Governor
Geopolitical factors have outweighed economic data releases in their market impact overnight. Safe haven currencies have outperformed. The NZD is down nearly 1½% from this time yesterday
2nd Oct 24, 7:50am
Geopolitical factors have outweighed economic data releases in their market impact overnight. Safe haven currencies have outperformed. The NZD is down nearly 1½% from this time yesterday
China’s equity market continued to surge in the aftermath of last week’s policy stimulus announcement. The China trade has helped drive the NZD and AUD up to fresh highs for the year
1st Oct 24, 7:39am
China’s equity market continued to surge in the aftermath of last week’s policy stimulus announcement. The China trade has helped drive the NZD and AUD up to fresh highs for the year
Weaker CPI figures bring higher odds of a ECB cut. US PCE inflation metrics were also market-friendly. The yen strengthened after an LDP candidate sympathetic to the BoJ policy to become the next PM
30th Sep 24, 7:29am
Weaker CPI figures bring higher odds of a ECB cut. US PCE inflation metrics were also market-friendly. The yen strengthened after an LDP candidate sympathetic to the BoJ policy to become the next PM
China's growth stimulus has supported risk appetite and Asia-Pacific currencies. The NZD is up 1%. Equities have increased to fresh record highs. Stronger US economic data drove higher US Treasury yields. Oil prices fell
27th Sep 24, 7:56am
China's growth stimulus has supported risk appetite and Asia-Pacific currencies. The NZD is up 1%. Equities have increased to fresh record highs. Stronger US economic data drove higher US Treasury yields. Oil prices fell
Risk appetites rising supported by a smorgasbord of Chinese easing measures to support their economy, while RBA update seen as dovish and weaker US consumer confidence also market moving events
25th Sep 24, 7:47am
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Risk appetites rising supported by a smorgasbord of Chinese easing measures to support their economy, while RBA update seen as dovish and weaker US consumer confidence also market moving events
Weaker euro area PMI data drove down rates in the region and dragged down the euro. UK PMI data weren’t as soft, while the US services PMI remained robust and inflation indicators were stronger
24th Sep 24, 7:49am
Weaker euro area PMI data drove down rates in the region and dragged down the euro. UK PMI data weren’t as soft, while the US services PMI remained robust and inflation indicators were stronger