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Stuart Ritson
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Powell commits to restrictive policy until inflation beaten. Little market reaction. Lagarde says ECB will also stay restrictive
28th Aug 23, 7:20am
Powell commits to restrictive policy until inflation beaten. Little market reaction. Lagarde says ECB will also stay restrictive
US and EU PMI surveys point to a greater than expected slowdown in economic activity. This weak data contributed to a large move lower in global bond yields. Initial weakness in European currencies reverse as US data also disappoints
24th Aug 23, 7:52am
US and EU PMI surveys point to a greater than expected slowdown in economic activity. This weak data contributed to a large move lower in global bond yields. Initial weakness in European currencies reverse as US data also disappoints
US treasury yields marginally lower but remain close to cycle highs. US Dollar stable. But the MSCI World Index declined 2.5% during last week which is the largest fall since the US banking crisis in March
21st Aug 23, 7:33am
US treasury yields marginally lower but remain close to cycle highs. US Dollar stable. But the MSCI World Index declined 2.5% during last week which is the largest fall since the US banking crisis in March
Stocks fell in Asia reflecting ongoing concerns about the Chinese economy and the growing debt crisis in the property sector. The FOMC minutes revealed most see significant upside risks to inflation which could require further tightening
17th Aug 23, 8:09am
Stocks fell in Asia reflecting ongoing concerns about the Chinese economy and the growing debt crisis in the property sector. The FOMC minutes revealed most see significant upside risks to inflation which could require further tightening
Above consensus US PPI data raised concerns the downshift in core prices has stalled. UST yields higher with 10-year back towards the highs for 2023. University of Michigan inflation expectations fell
14th Aug 23, 7:25am
Above consensus US PPI data raised concerns the downshift in core prices has stalled. UST yields higher with 10-year back towards the highs for 2023. University of Michigan inflation expectations fell
USTs and currency markets stay in narrow ranges ahead of US CPI. Brent crude at $88/bbl, the highest levels since January and up 20% since June on tightening supply. China consumer and producer prices both fell
10th Aug 23, 8:03am
USTs and currency markets stay in narrow ranges ahead of US CPI. Brent crude at $88/bbl, the highest levels since January and up 20% since June on tightening supply. China consumer and producer prices both fell
Markets took direction from the weaker than expected US payrolls data amid the mixed signals. Their jobless rate dipped to 3.5% and average hourly earnings were stronger than expected. The USD fell sharply as did UST yields
7th Aug 23, 7:15am
Markets took direction from the weaker than expected US payrolls data amid the mixed signals. Their jobless rate dipped to 3.5% and average hourly earnings were stronger than expected. The USD fell sharply as did UST yields
Chinese equities advanced with officials announcing more measures to support the construction sector and boost consumption. The Bank of Japan announced an unscheduled bond purchase operation to slow the move higher in JGB yields
1st Aug 23, 7:55am
Chinese equities advanced with officials announcing more measures to support the construction sector and boost consumption. The Bank of Japan announced an unscheduled bond purchase operation to slow the move higher in JGB yields
Growing hopes that the US economy can achieve a soft landing where the US Federal Reserve gets inflation under control without triggering a recession. US data showed a cooling in inflation pressures
31st Jul 23, 7:41am
Growing hopes that the US economy can achieve a soft landing where the US Federal Reserve gets inflation under control without triggering a recession. US data showed a cooling in inflation pressures
Weak purchasing manager surveys in the US and Europe raise concerns about the strength of the global economy. Expectations of large-scale Chinese stimulus being pared back
25th Jul 23, 7:42am
Weak purchasing manager surveys in the US and Europe raise concerns about the strength of the global economy. Expectations of large-scale Chinese stimulus being pared back
Investors look ahead to central bank policy decisions from the Federal Reserve, European Central Bank and Bank of Japan this week. Japan CPI higher than expected
24th Jul 23, 7:24am
Investors look ahead to central bank policy decisions from the Federal Reserve, European Central Bank and Bank of Japan this week. Japan CPI higher than expected
‘Soft-landing’ narrative for the US economy gaining momentum amid signs of cooling inflation. US consumer sentiment index easily beat expectations. US treasury yields rebounded. The US Dollar got support from higher US treasury yields
17th Jul 23, 7:35am
‘Soft-landing’ narrative for the US economy gaining momentum amid signs of cooling inflation. US consumer sentiment index easily beat expectations. US treasury yields rebounded. The US Dollar got support from higher US treasury yields
Softer than expected US inflation data contributed to large moves across global markets. US equities reach 15 month highs. US treasury yields are lower and the US dollar is sharply weaker
13th Jul 23, 7:53am
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Softer than expected US inflation data contributed to large moves across global markets. US equities reach 15 month highs. US treasury yields are lower and the US dollar is sharply weaker
US treasury yields moved lower led by the front end. Curve maintains recent steepening move. Soft consumer and producer price data in China raise concerns
11th Jul 23, 7:22am
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US treasury yields moved lower led by the front end. Curve maintains recent steepening move. Soft consumer and producer price data in China raise concerns
Weaker US payrolls data contributes to lower front end US Treasury yields. 10-year yields marginally higher, up 20bps for the week. Canada payrolls data surprises with strength
10th Jul 23, 7:47am
Weaker US payrolls data contributes to lower front end US Treasury yields. 10-year yields marginally higher, up 20bps for the week. Canada payrolls data surprises with strength
US economic data beats expectations across durable goods, consumer confidence and new home sales. US equities and Treasury yields higher post-data. PBoC shows increasing discomfort about recent weakness in the Yuan
28th Jun 23, 8:02am
US economic data beats expectations across durable goods, consumer confidence and new home sales. US equities and Treasury yields higher post-data. PBoC shows increasing discomfort about recent weakness in the Yuan
Global equity markets fell on Friday contributing to the largest weekly pullback since the US regional banking crisis began in March amid concerns about the growth outlook. Advance PMIs for June suggest that the Eurozone economy has slowed sharply
26th Jun 23, 7:32am
Global equity markets fell on Friday contributing to the largest weekly pullback since the US regional banking crisis began in March amid concerns about the growth outlook. Advance PMIs for June suggest that the Eurozone economy has slowed sharply
Federal Chair Powell said policymakers expect interest rates will need to move higher to slow down growth and contain price pressures. Markets are pricing about a 75% chance of a 25bps rate hike at the July meeting. UK inflation continues to run hot
22nd Jun 23, 7:57am
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Federal Chair Powell said policymakers expect interest rates will need to move higher to slow down growth and contain price pressures. Markets are pricing about a 75% chance of a 25bps rate hike at the July meeting. UK inflation continues to run hot
The Yen fell on the Bank of Japan decision to leave monetary policy settings unchanged. EUR/JPY and NZD/JPY make multi-year highs. US consumer sentiment rose more than expected. Five-to-10-year inflation expectations dipped to 3.0%
19th Jun 23, 7:25am
The Yen fell on the Bank of Japan decision to leave monetary policy settings unchanged. EUR/JPY and NZD/JPY make multi-year highs. US consumer sentiment rose more than expected. Five-to-10-year inflation expectations dipped to 3.0%
US equities edge higher in quiet markets. Traded volumes were the lowest since October last year. US Treasury yields higher with yield curve continuing recent flattening trend
12th Jun 23, 7:22am
US equities edge higher in quiet markets. Traded volumes were the lowest since October last year. US Treasury yields higher with yield curve continuing recent flattening trend
US payrolls data easily beat expectations which provided upward momentum for stocks and higher US Treasury yields. Services ISM unexpectedly fell to 50.3 from 51.9 in April with the prices, new orders and employment subcomponents all falling
6th Jun 23, 7:50am
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US payrolls data easily beat expectations which provided upward momentum for stocks and higher US Treasury yields. Services ISM unexpectedly fell to 50.3 from 51.9 in April with the prices, new orders and employment subcomponents all falling
US agreement in principle to increase the US Debt ceiling and US personal consumption and PCE higher than expected sees USD higher. Asian policymakers scramble to support their currencies
29th May 23, 7:47am
US agreement in principle to increase the US Debt ceiling and US personal consumption and PCE higher than expected sees USD higher. Asian policymakers scramble to support their currencies
Comments by Federal Reserve Chair Jerome Powell appeared to support a pause at the June FOMC. US treasury yields and US Dollar move lower following Powell’s comments
22nd May 23, 8:21am
Comments by Federal Reserve Chair Jerome Powell appeared to support a pause at the June FOMC. US treasury yields and US Dollar move lower following Powell’s comments
Weak US consumer confidence. Inflation expectations at 12-year high. US Dollar makes largest weekly gain since February. NZ yields lower and steeper following RBNZ inflation expectations survey
15th May 23, 7:47am
Weak US consumer confidence. Inflation expectations at 12-year high. US Dollar makes largest weekly gain since February. NZ yields lower and steeper following RBNZ inflation expectations survey