Stuart Ritson
US stock indices ended last week under pressure. Comments from Powell that that there is no need to hurry to cut rates saw the odds of a 25bp rate cut in December fall. The yen rose on Japanese attention
18th Nov 24, 11:17am
US stock indices ended last week under pressure. Comments from Powell that that there is no need to hurry to cut rates saw the odds of a 25bp rate cut in December fall. The yen rose on Japanese attention
US CPI data matched expectations contributing to a relief rally in short dated US treasuries. The chance of a 25bp rate cut at the December FOMC has increased to close to 80% according to market pricing
14th Nov 24, 7:43am
US CPI data matched expectations contributing to a relief rally in short dated US treasuries. The chance of a 25bp rate cut at the December FOMC has increased to close to 80% according to market pricing
The uptrend in the US dollar has extended supported by a sharp move higher in US treasury yields. Chinese stocks and the yuan remained under pressure amid concerns over the size of its fiscal stimulus
13th Nov 24, 7:45am
The uptrend in the US dollar has extended supported by a sharp move higher in US treasury yields. Chinese stocks and the yuan remained under pressure amid concerns over the size of its fiscal stimulus
US equities remained well supported. The Russell 2000 index of small-cap firms hit the highest level since 2021. The US dollar extended its uptrend. UST futures pricing implies modestly higher yields
12th Nov 24, 7:39am
US equities remained well supported. The Russell 2000 index of small-cap firms hit the highest level since 2021. The US dollar extended its uptrend. UST futures pricing implies modestly higher yields
Weaker US labour market data whipsaws global rates and currency markets with recent weather events a contributing factor. The US dollar and treasury yields fell sharply - before reversing higher
4th Nov 24, 7:22am
Weaker US labour market data whipsaws global rates and currency markets with recent weather events a contributing factor. The US dollar and treasury yields fell sharply - before reversing higher
The US economy expanded underpinned by strong consumer spending. UK gilts were volatile as UK chancellor delivered her debut budget and the market digested plans to ramp up borrowing
31st Oct 24, 7:51am
The US economy expanded underpinned by strong consumer spending. UK gilts were volatile as UK chancellor delivered her debut budget and the market digested plans to ramp up borrowing
Global asset markets little changed. US job openings, a proxy for labour demand, fell to the lowest level since February 2021. Oil prices stabilise as geopolitical risk premium eased
30th Oct 24, 7:35am
Global asset markets little changed. US job openings, a proxy for labour demand, fell to the lowest level since February 2021. Oil prices stabilise as geopolitical risk premium eased
Softer tone for global equities continues. The US dollar index reached the highest level since July. Gold prices pulled back from a record high
24th Oct 24, 7:49am
Softer tone for global equities continues. The US dollar index reached the highest level since July. Gold prices pulled back from a record high
There was no respite for global bond markets with yields moving higher in an extension of the large moves from the previous day. Asset markets are little changed in the absence of first-tier economic data
23rd Oct 24, 7:39am
There was no respite for global bond markets with yields moving higher in an extension of the large moves from the previous day. Asset markets are little changed in the absence of first-tier economic data
Oil prices fell after reports that Israel wouldn’t target Iran’s crude infrastructure. Lower oil prices have contributed to a pullback in global bond yields. Currency markets generally subdued
16th Oct 24, 7:46am
Oil prices fell after reports that Israel wouldn’t target Iran’s crude infrastructure. Lower oil prices have contributed to a pullback in global bond yields. Currency markets generally subdued
The S&P500 closed at another record high. US PPI data as expected. China's Finance Minister outlined plans to issue more debt to support the economy. Bond yields are modestly higher
14th Oct 24, 7:34am
The S&P500 closed at another record high. US PPI data as expected. China's Finance Minister outlined plans to issue more debt to support the economy. Bond yields are modestly higher
US CPI data was higher than consensus estimates but had limited lasting market impact. Currency markets subdued overall. Chinese equities remain volatile
11th Oct 24, 7:45am
US CPI data was higher than consensus estimates but had limited lasting market impact. Currency markets subdued overall. Chinese equities remain volatile
US equity markets supported ahead of key inflation data with the S&P500 at a fresh record high. Chinese stocks fell 7% on uncertainty about stimulus measures. US Treasury yields moved higher supporting the US dollar
10th Oct 24, 7:55am
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US equity markets supported ahead of key inflation data with the S&P500 at a fresh record high. Chinese stocks fell 7% on uncertainty about stimulus measures. US Treasury yields moved higher supporting the US dollar
Stocks in Hong Kong fell sharply after a key briefing from Chinese officials underwhelmed investors. Oil prices retraced from recent highs. Global bond and currency markets little changed overall
9th Oct 24, 7:43am
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Stocks in Hong Kong fell sharply after a key briefing from Chinese officials underwhelmed investors. Oil prices retraced from recent highs. Global bond and currency markets little changed overall
10-year US treasuries have traded back above 4%, the highest level since August, as investors continue to recalibrate the outlook for monetary policy. Brent crude prices advanced above US$80
8th Oct 24, 7:44am
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10-year US treasuries have traded back above 4%, the highest level since August, as investors continue to recalibrate the outlook for monetary policy. Brent crude prices advanced above US$80
Stronger than expected US labour market data contributed to large moves across financial markets as investors recalibrated expectations for easing by the Federal Reserve. US treasury yields spiked higher led by the front end
7th Oct 24, 7:25am
Stronger than expected US labour market data contributed to large moves across financial markets as investors recalibrated expectations for easing by the Federal Reserve. US treasury yields spiked higher led by the front end
Global equity markets ease. The US dollar up off the recent lows. Oil prices looked past higher Middle East and declined on signs that supply disruptions in Libya are easing
26th Sep 24, 7:53am
Global equity markets ease. The US dollar up off the recent lows. Oil prices looked past higher Middle East and declined on signs that supply disruptions in Libya are easing
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
19th Sep 24, 7:41am
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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
18th Sep 24, 7:48am
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
13th Sep 24, 7:47am
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
9th Sep 24, 7:20am
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
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%
5th Sep 24, 7:42am
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
4th Sep 24, 7:34am
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
3rd Sep 24, 7:39am
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
2nd Sep 24, 7:12am
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