Finance AM: Recent Episodes
Westpac Bank
This is your daily morning briefing. With commentary and analysis from Westpac's Institutional Research team, Finance AM brings you insights on today's business news, the markets, FX and more. In one short bulletin, you'll get the heads up on what will drive markets in the day ahead.
Any information provided in this podcast series is general in nature and has been prepared without taking into account any personal circumstances.
The US dollar fell slightly, while bond yields were little changed amid little major news for markets to digest. Markets await tonight’s important US payrolls data release.
The US dollar and bond yields fell in response to softer data on the US services sector, partially retracing later following Fed Chair Powell’s comments advocating caution regarding the easing cycle.
The US dollar fell slightly, as did short maturity bond yields. Fedspeak was slightly dovish. South Korea’s declaration of martial law caused a brief bid for safe-haven assets.
The US dollar rose in the wake of the weekend’s Trump comments on the US dollar’s leading global role. Bond yields were mixed, amid solid US economic data.
The US dollar and bond yields fell, while equities rose. There was little economic data of note, and market concerns about Trump tariffs have abated.
The US dollar and bond yields fell, the S&P500 down 0.5%, amid a batch of US economic data which was mostly as expected. Month-end rebalancing and hawkish ECB-speak contributed to the moves.
The US dollar roundtripped for little net change, while bond yields rose modestly. US economic data was second-tier and mixed, while the FOMC minutes contained no major surprises.
Bond yields and the US dollar fell, and US equities rose, in response to the nomination of the US Treasury Secretary yesterday.
The US dollar rose to a two-year high, amid expectations the US economy will continue to outperform during the new Trump administration. Equities rose moderately, while bond yields were mixed but little changed.
Markets were initially affected by geopolitical jitters involving Ukraine, boosting safe haven instruments, but the moves faded to leave bond yields only slightly lower and the US dollar unchanged. The dollar bloc – CAD, AUD, and NZD, outperformed. Canada’s CPI inflation was stronger than expected.
US equities rose, the S&P500 up 0.5%, amid little major data. The defensive US dollar fell, while bond yields ranged for little net change.
The S&P500 fell 1.3% as Trump election euphoria faded, bond yields were volatile but closed slightly lower, and the US dollar closed little changed. US economic data was slightly firmer than expected.
Bond yields fell, despite firmer producer price inflation and jobless data, while the US dollar was little changed.
The week ended with slightly further reaction to the US election, the S&P500 rising 0.4% to a fresh record high and short maturity bond yields and the US dollar rising.
Initial reactions to the US election were pared overnight, with bond yields and the US dollar lower. US equities had moderate gains, the S&P500 up 0.7% to a fresh record high. Central banks in the US, UK and Sweden eased, but remained on hold in Norway.
Yesterday’s initial reactions to the US election results extended slightly overnight. The US dollar and bond yields are slightly higher, while the S&P500 is up 2.3% to a record high.
Ahead of the US election, a risk-positive mood prevailed, with bond yields and equities rising, and the US dollar falling. Stronger US services data contributed to higher bond yields.
There was little major news for markets which remained volatile ahead of US election results. The US dollar saw little net change overnight, while the AUD and NZD fell slightly.
Bond yields and the US dollar initially plunged in response to US jobs data, which was weaker than expected, but later retraced those reactions.
Bond yields are slightly higher following solid US economic data, while the US dollar is slightly lower following Eurozone data which was stronger than expected.
Bond yields were volatile but overall little changed amid mixed US economic data. The US dollar is modestly higher.
Bond yields were volatile but overall rose slightly, while the US dollar is little changed. Risk sentiment was moderately positive.
Bond yields and the US dollar rose amid little major news, against a backdrop of US election risks and markets pricing a slower Fed easing cycle. Equities fell, the S&P500 down 1.3%. The Bank of Canada cut its rate by 50bp, as was widely expected.
Markets saw only minor movements amid little major news. The US dollar is slightly higher.
Global bond yields rose as market pricing for central bank easing was pared further. The US dollar also rose.
Bond yields and the US dollar fell, while the main US equity indices made fresh record highs.
Bond yields and the US dollar rose following stronger US retail sales data. The ECB cut by 25bp and gave cautious guidance.
Bond yields are slightly lower and the US dollar is slightly higher. There was little major news, apart from UK inflation data which was softer than expected.
Markets were volatile following minor US economic data surprises, leaving bond yields slightly lower but fx little changed.
Mixed US economic data (PPI inflation, consumer sentiment) caused mixed reactions in bond yields and little net change in currencies, while equities rose.
Mixed US economic data caused mixed reactions in bond yields and little net change in currencies. Inflation data was firmer but labour data was softer.
US bond yields and the US dollar rose further. Fedspeak continued to hint at gradualism, the treasury auction was weak, and markets are cautious ahead of tomorrow’s US inflation data.
US bond yields and the US dollar rose slightly amid Fedspeak which hinted at a more gradual pace of rate cuts.
US bond yields rose further as markets continued to digest last Friday’s strong US labour data. The AUD and NZD currencies underperformed, geopolitical tensions weighing.
The US dollar and bond yields rose sharply in response to US labour data which was much stronger than expected. Equities also rose.
The US dollar and bond yields rose amid solid US economic data. Oil prices rose as tension gripped the Middle East.
US labour data was stronger than expected, causing a rise in the US dollar and bond yields.
Risk aversion amid escalation of the war in the Middle East caused a flight to safe haven instruments. Bond yields fell and the US dollar rose.
Bond yields rose during the European session and again following Fed Chair Powell’s speech, while the US dollar is only slightly higher.
Bond yields fell amid slightly softer than expected US economic data and heightened tensions in the Middle East. The US dollar fell on the former but partly recovered on the latter.
Bond yields rose following stronger than expected US economic data. Chinese equities rose sharply amid discussion of further economic stimulus via fiscal measures, helping the AUD and NZD outperform.
Bond yields and the broad US dollar fell in response to weaker US consumer confidence data.
Bond yields and the broad US dollar gyrated with economic data and Fedspeak, but are little changed, while equities gained slightly. The AUD and NZD outperformed.
ond yields rose slightly while the US dollar and equities closed little changed amid quarter end equity derivative position rollovers and some Fedspeak.
The US dollar weakened slightly as the previous day’s large Fed rate cut was digested, and equities rose, the S&P500 up 1.8% - a record high. The central banks of the UK and Norway remained on hold.
The US dollar and bond yields are slightly higher, and equities slightly lower, despite the US Federal Reserve cutting its policy rate by 50bp – larger than the 25bp consensus expectation. The announcement did initially cause the expected set of reactions, but these were reversed during the press conference which hinted at a more measured pace of easing ahead.
The US dollar and bond yields rose following stronger than expected US economic data on retail sales and industrial production.
The US dollar and bond yields fell slightly, markets looking ahead to the Fed decision in two days time.
The US dollar and bond yields are slightly higher, and equities slightly lower, partly retracing the previous day’s moves.
The US dollar and bond yields fell, and equities rose, following the eagerly awaited speech from Fed Chair Powell which signalled that rate cuts will start soon.
The US dollar and bond yields rose and equities fell ahead of tonight’s important speech by Fed Chair Powell. Fed speakers yesterday indicated easing will likely be more measured than what markets have priced.
The US dollar fell and equities rose amid improved risk sentiment, but bond yields are little changed. There was little major news.
Bond yields were volatile amid mixed US economic data, ending the day slightly lower. The US dollar fell, while equities rose slightly.
Bond yields, the US dollar, and equities all rose following US retail sales and job less claims data which showed a soft, rather than hard, landing for the economy is likely.
Bond yields are slightly lower, while the US dollar is slightly higher, benign US CPI data not ruffling Fed rate cut expectations much.
Bond yields and the US dollar fell, and equities rose, following softer than expected US PPI inflation data.
Bond yields fell slightly while currencies were mixed, and equities were little changed. A minor survey of US inflation expectations showed modest declines. Middle East tensions rose.
Bond yields rose slightly, while currencies were mixed and equities fell slightly. There was little major news for markets.
Markets were calmer overnight. Bond yields and the US dollar rose slightly, and the S&P500 is up 2.1%. There was little major news for markets.
The turmoil in global markets continued, bond yields and the US dollar rebounding during the NY session. Firmer ISM services data helped extend the rebound. The S&P500 is down 3.0%, following a 17% plunge in Japan’s Nikkei 225.
Bond yields, the US dollar, and equities all fell sharply following US payrolls data which was much softer than expected. The S&P500 fell 1.8% to a two-month low.
Bond yields and equities fell in response to weak US economic data, while the US dollar rose amid escalating Middle East tensions. The Bank of England cut its policy rate.
Bond yields and equities fell amid a more risk averse market mood, while currencies were mixed. Middle East tensions flared.
Bond yields fell on relief US inflation data was not stronger than expected. The US dollar was little changed, while equities rose.
Currencies and bond yields were volatile but are little net changed, following firmer than expected US GDP data. Equities rose slightly.
Currencies and bond yields were volatile but are little net changed, while US equities fell sharply, led by the technology sector. The Bank of Canada eased again.
The US dollar rose slightly, while bond yields were choppy but little changed. There was little major news to ruffle markets.
Bond yields rose, while the US dollar was little changed amid little major news. The S&P500 rose 1.1%.
The US dollar and bond yields rose slightly, while equities fell, amid little major news.
The US dollar and bond yields rose, while equities fell, amid US political uncertainty and minor economic data releases. The ECB held as expected and caused little reaction.
The US dollar, bond yields, and equities fell, despite firmer US industrial production data. Political uncertainty added to the mix of economic events and Fedspeak.
The US dollar and bond yields rose in response to stronger US retail sales data, but later reversed leaving bond yields slightly lower. Equities rose, the DJIA up 1.8% to a record high, fuelled by speculation the Fed will cut rates soon.
The US dollar rose slightly, while bonds were mixed. Fed Chair Powell welcomed recent data but refrained from discussing a rate path.
The US dollar and bond yields fell slightly in response to softer than expected details in the US PPI data as well as a fall in inflation expectations.
The US dollar and bond yields fell sharply in response to softer than expected US CPI inflation data.
The US dollar and bond yields are little changed, markets awaiting tomorrow’s US CPI data. Fed Chair Powell repeated yesterday’s speech, which seemed to further encourage equity markets, the S&P500 up 0.7% to a fresh record high.
The US dollar rose slightly, while bond yields were volatile but only modestly higher. Fed Chair Powell’s testimony was balanced and offered little new information.
The US dollar rose slightly and bond yields fell slightly, in a session with little major news, markets awaiting Fed Chair Powell’s testimony and US CPI data this week.
US bond yields and the US dollar fell in response to weaker than expected US payrolls data. The French election surprised with a shift to the left, causing EUR to fall.
Markets were relatively calm overnight, with little major news during the US holiday. The US dollar is slightly lower, while European equities are slightly higher.
“Bad news is good news”: the set of US economic data overnight was weaker than expected, causing bond yields and the USD to fall, and the S&P500 to rise 0.5% to a fresh record high.
US bond yields and the US dollar fell slightly following Fedspeak, while equities rallied, the S&P500 up 0.4%.
Despite softer US manufacturing data, bond yields rose amid rising concerns about inflation and debt levels following the US elections in November. The US dollar followed suit.
The US dollar fell and bond yields rose following mixed events. US PCE inflation softened as expected, while the US presidential debate fuelled concerns about fiscal and trade management.
The US dollar and bond yields rose overnight, despite little major news. Markets anxiously await Friday’s US PCE inflation data following recent upside surprises in Canada and Australia.
The US dollar rose slightly overnight, while bond yields were volatile but little changed. Data was second-tier, the Fedspeak mixed.
The US dollar fell slightly overnight, while bond yields and equities are little changed, with little major news for markets to respond to.
The US dollar rose slightly further and bond yields recovered earlier losses following firmer manufacturing and services data.
The US dollar rose overnight amid central bank decisions, geopolitical headlines and softer US data, while bond yields were volatile but little changed.
Bond yields and the US dollar fell in response to softer US retail sales data, while the prospect of lower interest rates helped the S&P500 rise 0.2% to a fresh record high.
Bond yields rose, the US dollar fell, and the S&P500 rose 0.9% to a record high. Markets shifted from a risk-averse to a risk-seeking state, amid little major news and calmer sentiment regarding the French election.
Bond yields fell and the US dollar rose, as risk aversion related to Europe persisted. US consumer sentiment fell. The S&P500 closed unchanged, but the Eurostoxx 50 closed down 2.0%.
Bond yields fell in response to softer US PPI inflation data, but the US dollar did not follow suit.
Bond yields and the US dollar fell in response to softer US CPI inflation data, partly recovering later in response to the FOMC statement. The S&P500 is up 0.9%.
Bond yields fell after a strong US treasury auction, while currencies were mixed. There was little major news, markets awaiting key US CPI data and the Fed decision.
In a lacklustre overnight session, bond yields crept slightly higher, while currencies were mixed. The EUR underperformed amid political uncertainty. Markets appear to be in waiting mode ahead of key US CPI data and the Fed decision later this week.
Bond yields and the US dollar rose sharply in response to stronger than expected US payrolls data.
Bond yields were volatile following the ECB’s hawkish rate cut, but end the US session modestly lower. Currencies are little net changed.
A fall in bond yields was helped by softer US labour data and the Bank of Canada’s rate cut. Currencies were mixed, while the S&P500 made a fresh record high.
Bond yields rose following strong US consumer confidence data, weak treasury auctions, and hawkish Fedspeak. The US dollar rose slightly, while equities fell.
The US dollar fell slightly during US-holiday thinned session. European bond yields fell amid dovish ECB comments.
Bond yields rose and fell with the US data surprises, ending little changed. The US dollar fell, while equities rose.
Bond yields and the US dollar rose slightly ahead of, and after, minutes to the Fed’s early May meeting. The S&P500 is down 0.5%.
Bond yields fell slightly while currency moves were minor and mixed. Fedspeak was mixed.
Bond yields and the US dollar rose slightly amid little major news apart from Fedspeak. Equities remained elevated. Gold made a record high.
Bond yields rose amid little major news, which currency moves were minor and mixed. Equities remained elevated, the DJIA making a record high.
Bond yields rose despite mixed US economic data, the US dollar only slightly so. The S&P500 rose slightly to a fresh record high.
Bond yields and the US dollar fell in response to softer than expected US CPI inflation and retail sales data, while the S&P500 is up 1.0%.
Bond yields and the US dollar are slightly lower, with US PPI data proving mixed and Fed Chair Powell’s comments no more hawkish than previously. The S&P500 is up 0.4%.
Bond yields and the US dollar erased earlier losses after a firmer US inflation expectations survey.
Bond yields rose after US data showed consumer sentiment declined but inflation expectations rose. The US dollar was volatile and closed slightly higher.
Bond yields and the US dollar fell after US weekly jobless claims data and a strong 30yr treasury bond auction. The Bank of England held steady but appeared less hawkish.
Bond yields rose slightly, while the US dollar and equities were little changed during another session bereft of major news.
The US dollar rose slightly, while bond yields fell slightly, in another session bereft of major news.
Bond yields and currencies recorded mixed and minor movements in the absence of major news, while the S&P500 is up 1.3%.
Bond yields and the US dollar fell sharply in response to weaker than expected US payrolls data, but losses were later pared. The S&P500 closed up 1.3%.
Bond yields and the US dollar extended the downward reactions to the previous day’s FOMC outcome which was less hawkish than expected.
Bond yields and the US dollar fell in response to the Federal Reserve’s policy statement and press conference, which were less hawkish than expected, while the S&P500 rose 1.0%.
Bond yields and the US dollar rose sharply in response to stronger than expected US wage inflation data, and the S&P500 fell 0.9%.
Bond yields and the US dollar fell slightly amid little major news, apart from speculation official had intervened in the yen.
Bond yields fell while the USD rose. Markets were relieved US PCE inflation data was not stronger than expected. The S&P500 rose 1.0%.
The US dollar fell following stronger than expected European PMI data and disappointing US equivalents. Bond yields fell, and equities rose, the S&P500 up 1.2%.
Amid little major news, the US dollar and bond yields fell slightly, while equities rose – the S&P500 up 1.2%.
Friday’s risk-off move related to Israel’s strike on Iran was unwound in bond and currency markets, as retaliation fears dissipated. Equities fell though, the S&P500 down 0.9%.
The US dollar and bond yields rose amid hawkish Fedspeak and some solid US economic data. Equities fell slightly.
The US dollar and bond yields corrected lower amid little major news for markets. Equities fell slightly.
Further gains in the US dollar and bond yields were helped by hawkish comments from Fed Chair Powell and solid US industrial production data.
Gains in the US dollar and bond yields were helped by stronger US retail sales data, while equities fell (S&P500 -1.0%).
Risk-aversion struck markets on Friday, as they braced for an attack by Iran on Israel. The defensive US dollar rose, bond yields fell, and equities fell (S&P500 -1.5%).
Markets consolidated the previous day’s sharp moves, with minor movement in bond yields and the US dollar following the ECB’s on hold decision.
Markets were rattled by stronger than expected US CPI inflation data. US bond yields and the US dollar jumped significantly, and equities fell, the S&P500 down 1.3%.
In another session bereft of major news, bond yields fell, while the AUD and NZD currencies outperformed. Markets are focussed on tonight’s US CPI data.
Bond yields rose slightly to multi-month highs, Friday’s strong US jobs data still resonating. The US dollar did not follow suit though.
Bond yields rose following strong US payrolls data and hawkish Fedspeak. The US dollar is only slightly firmer, though, with equities higher – the S&P500 up 1.1%.
The US dollar fell further but bond yields were mixed, ahead of important US payrolls data. Fedspeak emphasised patience, and jobless claims data was slightly cooler.
Bond yields and the US dollar fell, initially in response to weaker US services activity data, and then during Fed chair Powell’s speech. The S&P500 is up 0.4%.
Bond yields rose further but the US dollar fell, amid mostly solid economic data in the US, Eurozone and UK. Equities fell, the S&P500 down 0.9%.
Bond yields and the US dollar are higher, following stronger US manufacturing data. Equities are slightly lower.
Bond yields are slightly lower, following the Swedish central bank’s dovish hold, and dovish ECB comments. The US dollar is little changed.
US bond yields rose and the US dollar fell slightly, amid little major news and mixed Fedspeak.
US bond yields fell slightly, while the US dollar rose, as markets digested the previous week’s signals from major central banks.
US bond yields and the US dollar rebounded, helped by firm economic data. The Bank of England remained on hold, but the Swiss central bank delivered a surprise cut.
The initial response to the Fed statement, which kept the policy rate projection for year-end unchanged, was a slight fall in the US dollar and shorter bond yields, and a rise in equity indices. These reactions were extended during Fed Chair Powell’s press conference.
Bond yields fell slightly on the eve of the eagerly awaited Fed decision, helped by softer Canadian inflation data.
Bond yields and the US dollar rose slightly further, as markets prepared for this week’s major central bank decisions.
Bond yields and the US dollar rose further, markets poised for a hawkish Fed outcome this week.
Bond yields and the US dollar rose, and equities fell, following firmer US PPI inflation data.
Bond yields rose slightly, but the US dollar fell. Markets are wary of the Fed decision next week, given recent stickiness in CPI inflation data.
Bond yields rose slightly, but currencies and equities were contained the day before key US inflation data.
Markets were volatile around a mixed US payrolls update, with equities lower but currencies and bond yields closing little changed.
The US dollar fell and equities rose following the ECB statement and Fed chair Powell’s second testimony. Short maturity bond yields are lower.
Bond yields and the US dollar fell and equities rose amid a confluence of events. Fed Chair Powell reiterated that the policy rate would eventually be lowered, ADP and JOLTS jobs data was near expectations, and US regional bank Bancorp sought a cash infusion.
Currencies and US equities are little changed, while bond yields are slightly higher. There was little major news for markets.
Bond yields and the US dollar fell after softer US consumer confidence and manufacturing data. The S&P500 made a fresh record high, rising 0.8%.
The US dollar is slightly higher, the NZD and AUD extending yesterday’s declines. Short maturity bond yields are slightly lower.
There was little net movement in bond yields, currencies or US equities overnight, and little news of note.
Bond yields rose ahead of large US treasury auctions, while the US dollar was little changed amid little major news.
Bond yields fell but the US dollar and equities closed little changed. There was little major news for markets to digest.
The US dollar is little changed amid stronger equities’ sentiment and solid economic data. The S&P500 rose 2.2% to a fresh record high in the wake of Nvidia’s earnings result. Bond yields rose following solid global PMI data.
US bond yields rose ahead of a poorly subscribed 20yr treasury auction and the FOMC minutes. The US dollar is little changed, while equities are slightly lower.
Bond yields fell amid dovish BoE comments, softer EZ wage data, and softer Canadian inflation data. The US dollar and US equities also fell.
Markets were mostly contained during the US holiday, with implied bond yields rising slightly, and the US dollar little changed.
Bond yields rose following stronger than expected US producer price inflation data, hurting equities (S&P500 -0.5%), while the US dollar saw little net change.
The US dollar fell following softer US retail sales and industrial production data. The S&P500 is up 0.5%.
Bond yields fell following some dovish Fedspeak, PPI revisions, and softer UK CPI data. The S&P500 is up 0.3%,and the US dollar is slightly lower
US inflation data was stronger than expected, causing bond yields and the US dollar to rise sharply. The S&P500 is down 1.3%.
US equities remained upbeat, the S&P500 up 0.4% to a fresh record high. The US dollar and bond yields are marginally lower. There was little news of note.
US equities remained upbeat, the S&P500 closing up 0.6% at a fresh record high, markets relieved that US CPI data revisions were benign. The US dollar fell slightly, while bonds yields rose slightly.
Bond yields, the US dollar and equities all rose sharply after much stronger than expected US payrolls data, the S&P500 up 1.1% to a record high.
Bond yields are lower after a volatile session amid mixed economic data. The US dollar is also lower while equities are higher, the S&P500 up 1.0%.
Bond yields and the US dollar initially fell after softer US labour data, but then retraced after the FOMC statement which was slightly less dovish than markets had expected. The S&P500 is down 0.7%.
Bond yields jumped after stronger US economic data on the eve of the Fed’s rate decision. Currencies were only slightly ruffled.
Bond yields fell slightly amid some dovish comments from ECB officials. The US dollar was slightly firmer.
US bond yields rose following data showing stronger personal spending, helping the US dollar recover early session losses. Equities were little changed.
The US dollar rose slightly and bond yields fell slightly, while the S&P500 rose 0.1% to a fresh record high. The ECB held steady, and US GDP data showed solid growth and muted inflation.
Market sentiment was buoyant, helped by easing from China’s central bank and stronger US PMI data. The S&P500 is up 0.4% to a record high, the defensive US dollar is lower, and bond yields are higher.
The US dollar and bond yields rose during a session with little major news flow. The S&P500 nudged 0.1% higher to a fresh record high.
Equity markets remained upbeat, the S&P500 up 0.2% to a fresh record high. Despite that, AUD and NZD fell slightly, as did bond yields.
Upbeat sentiment in equities markets saw the S&P500 rise 1.2% to a record high. That, and surveyed inflation expectations receding, depressed the US dollar slightly, while bond yields were mixed.
Bond yields and the US dollar fell after Fed chair Powell’s comments which were less hawkish than expected. Also contributing to the moves were softer than expected US ISM manufacturing data and dovish ECB-speak. The S&P500 rose 0.6%.
Bond yields rebounded and the US dollar rose, despite PCE inflation declining as expected. Markets are looking ahead to Fed chair Powell’s comments tonight.
Bond yields fell slightly further, helped by softer German inflation data, while the US dollar rose slightly amid mixed Fedspeak and US data.
Bond yields fell further, amid mixed Fedspeak and US economic data. The US dollar fell to a low since August.
Bond yields fell overnight, helped by softer US economic data. The US dollar is little changed, but AUD and NZD made fresh highs since August.
During a shortened US session following Thanksgiving Day, the US dollar fell amid slightly improved risk sentiment and bond yields rose slightly.
Markets were mostly contained overnight, given the US holiday. Currencies were mixed with minor movements, while bond yields rose.
Bond yields and the US dollar rose in response to second-tier US economic data (jobless claims, inflation expectations), and the S&P500 is up 0.4%.
Short-term bond yields rose amid central bank comments disagreeing with markets pricing rate cuts. Equities were steady, but the US dollar fell.
Bond yields fell after US economic data showed the economy cooling. The US dollar and equities are little changed. Oil fell sharply.
Bond yields partly retraced the previous day’s decline following mixed economic data. The US dollar and equities rose slightly.
US CPI inflation data was softer than expected, causing a plunge in bond yields and the USD, and a rise in equities (S&P500 up 1.9%).
Bond yields rose following a rise in US inflation expectations, but the US dollar was little changed. The S&P500 closed up 1.6%.
Bond yields extended earlier gains following commentary from Fed chair Powell, which also helped the US dollar rise slightly. Equities swung from gains to losses, the S&P500 down 0.6%.
Bond yields extended earlier gains following commentary from Fed chair Powell, which also helped the US dollar rise slightly. Equities swung from gains to losses, the S&P500 down 0.6%.
Bond yields continued to fall amid resurfacing concern about recession. The US dollar was mixed amid hawkish commentary from ECB officials.
The US dollar rose, bond yields fell, and equities rose slightly. There was little major news for markets to digest, apart from some Fedspeak which was mixed.
The US dollar and bond yields rose, and equities fell slightly, amid little major news for markets.
The US dollar and bond yields fell sharply following softer US labour data, while equities rose (S&P500 +0.9%).
The US dollar and bond yields fell, and equities rose (S&P500 +1.8%), extending moves which followed yesterday’s Fed outcome. The Bank of England kept rates on hold, as was widely expected.
A fall in bond yields, following disappointing US manufacturing data, was extended after the Fed’s on-hold decision and press conference. The US dollar was mixed, while the S&P500 is up 1.1%.
The USD and bond yields jumped in response to US wage inflation data which was slightly stronger than expected. Equities were resilient, the S&P500 up 0.6%.
Bond yields were volatile and the USD fell amid improved risk sentiment, BoJ speculation, and an update on US borrowing. The S&P500 is up 1.3%.
In choppy trade following mixed US data, bond yields fell slightly, the US dollar closed unchanged, and the S&P500 closed down 0.5%.
Bond yields fell in response to softer core price data from the US GDP report, despite stronger activity readings. The AUD and NZD rebounded, while equities were weaker (S&P500 down 1.1%). As expected, the ECB held rates steady.
Bond yields rose despite little news of note, supporting the US dollar and depressing equities, the S&P500 down 1.3%.
The USD rose, helped by slightly better US (and disappointing Eurozone) PMI data. Bond yields were mixed, and the S&P500 is up 0.7%.
US bond yields and the USD fell after the former initially rose to historically attractive levels. The S&P500 is up 0.5%.
The USD and short- term bond yields fell following Fed chair Powell’s speech, while long- term bond yields rose. The S&P500 is down 0.7%.
A risk averse mood prevailed, Middle East concerns ongoing, pushing the defensive USD higher and equities lower (S&P500 down 1.2%). Bond yields were volatile, net higher.
Strong US spending and manufacturing data boosted bond yields but not the USD. The S&P500 is down 0.1%.
Amid a calmer risk sentiment backdrop, the S&P500 rose 1.2%, bond yields rose, and the USD fell slightly.
A risk averse mood prevailed, markets concerned about escalation in the conflict in Israel. The S&P500 closed down 0.5%, oil rose sharply, and the defensive US dollar rose slightly.
The US dollar and bond yields rose sharply following eagerly awaited US CPI data which was slightly firmer than expected. Equities fell on high interest rate concerns, the S&P500 down 1.0%.
The US dollar steadied and short-term bond yields rose slightly following stronger US PPI inflation data. The S&P500 is up 0.1%.
The US dollar fell slightly further amid improved sentiment in equity markets, the S&P500 up 0.6%.
Bond yields fell amid some dovish Fedspeak, in turn depressing the USD and lifting equities, the S&P500 up 0.6%. Oil prices consolidated.
US payrolls data was stronger than expected, pushing bond yields higher. The USD finished the session lower, risk sentiment lifted by progress in US autoworker negotiations which helped the S&P500 close up 1.2%.
The USD fell slightly ahead of tonight’s important US payrolls data, while bond yields were little changed.
Bond yields and the USD fell, weaker US ADP jobs data contributing. The S&P500 is up 0.8%.
Bond yields rose further after strong US job openings data, while the S&P500 fell 1.6%. The USD remained elevated, apart from a plunge in USD/JPY.
Bond yields and the US dollar rose, helped by stronger US economic data and the aversion of a US government shutdown. The S&P500 is down 0.4%.
Currencies and bond yields were mixed at quarter end, amid mixed economic data, while the S&P500 closed down 0.3%. Over the weekend, the US government averted a shutdown.
Bond yields and the US dollar fell and equities rose in the approach to quarter end. US GDP data disappointed slightly, and Fedspeak was dovish.
Bond yields rose sharply as oil prices reached 10-month highs, in turn lifting the US dollar. The S&P500 is down 0.6%.
A risk averse mood prevailed, the S&P500 down 1.4% to a three-month low amid concerns about high interest rates. The USD rose slightly to a 10-month high. Bond yields remained elevated.
US bond yields rose amid ongoing concerns about government debt levels, the Fed rate remaining high, and sticky inflation. Moody’s warned of shutdown implications. The USD followed bond yields, while equities are little changed.
Friday’s session ended with bond yields slipping from decade highs and the USD remaining elevated.
The Fed kept rates on hold but was more hawkish than markets had expected, causing bond yields and the US dollar to recover earlier losses. The S&P500 is down 0.9%.
Bond yields rose on the eve of the Fed rate decision, helped by stronger Canadian inflation data and higher oil prices. Commodity currencies outperformed slightly, while equities fell slightly.
Markets were contained overnight, awaiting key decisions from major central banks later this week. Oil prices rose further.
Bond yields rose ahead of mixed US economic data, and the S&P500 closed down 1.2%. The AUD and NZD fell slightly.
The US dollar rose after the ECB delivered a dovish hike, while US bond yields later rose following firm economic data. The S&P500 is up 0.8%.
US inflation data was close to expectations albeit mixed in the details, leaving the broad US dollar little changed after a choppy session. Bond yields fell.
The eve of an important US inflation update saw the US dollar rise slightly, while equities fell and bond yields were mixed.
The US dollar fell slightly further overnight, bond yields ranged, and equities rose – the S&P500 up 0.7%. There was little major news for markets to digest.
A choppy session bereft of major news saw bond yields end the day slightly higher, while the USD was little changed. The S&P500 closed up 0.3%.
A slightly risk-averse session saw the S&P500 down 0.3%, bond yields slightly lower, and the US dollar slightly higher. AUD and NZD were confined to narrow ranges.
Bond yields rose in response to stronger US services activity data. The S&P500 is down 0.7%, while the US dollar had only a modest gain.
Bond yields rose amid a hefty corporate issuance pipeline and rising oil prices. The US dollar also rose, while the S&P500 is down 0.4%.
A relatively quiet session due to the US holiday saw bond yields rising slightly. Currencies were little changed, while Chinese equities rose in response to recent stimulus.
Bond yields and the US dollar were volatile amid US labour and manufacturing data, ultimately closing higher. The S&P500 closed up 0.2%.
Economic data in the US and Europe overnight was mixed, leaving European currencies weaker, while bond yields drifted lower.
Similarly to the previous day, US data (in this case US GDP and private payrolls) was weaker than expected, causing the US dollar and bond yields to fall. Equities again rose on reduced Fed rate hike expectations, the S&P500 up 0.4%.
US job openings and consumer confidence were weaker than expected, causing the US dollar and bond yields to fall sharply. Equities rose on reduced Fed rate hike expectations, the S&P500 up 1.5%.
Bond yields fell slightly during a lacklustre session, with no major news for markets, and the UK on holiday. Currencies were little changed, while the S&P500 rose 0.5%.
The US dollar and bond yields fell after US and European activity indicators were softer than expected. The S&P500 is up 1.1%.
Currencies and bonds were rangebound in a session bereft of major news, and the S&P500 closed unchanged.
The US dollar remained elevated, while bond yields receded slightly, with little fresh news for markets to digest. The S&P500 is down 0.8%.
The US dollar and bond yields rose further, helped by US economic data. FOMC minutes contained little new. The S&P500 is down 0.8%.
Bond yields were volatile for little net change, while risk sensitive currencies were slightly weaker. The S&P500 is down 1.2%. US retail sales data was stronger than expected, and Fedspeak was hawkish.
Bond yields and the US dollar continued to rise, with little fresh news for markets to digest. The S&P500 is up 0.5%.
Bond yields and the US dollar rose after firm US PPI inflation data. US equities were slightly weaker.
Markets were buffeted by US CPI data and a treasury bond auction, leaving bond yields and the US dollar slightly higher. US equities are little changed.
Interest rate and currency markets were mostly contained ahead of today’s key US inflation data, while equities fell (S&P500 down 0.7%).
There was again little major news for markets to digest, leaving bond yields slightly lower but the US dollar higher. The S&P500 is down 0.4%.
There was little major news for markets to digest, leaving bond yields and currencies mixed. The S&P500 is up 0.8%.
US bond yields and the US dollar fell sharply after softer payrolls data. The S&P500 closed down 0.5%.
US bond yields rose further, amid ongoing concerns over increased borrowing plans, while currencies were mostly contained and equities were slightly lower. The BoE hiked by 25bp and maintained a tightening bias.
The US dollar and bond yields rose after strong labour data and increasing government borrowing. Higher yields hurt equities, the S&P500 down 1.4%.
The US dollar and bond yields rose ahead of mixed economic data. The S&P500 is down 0.3%.
The US dollar was mixed, with risk-sensitive currencies outperforming defensive ones. Bond yields fell slightly, while equities were little changed.
Bond yields fell as markets speculated the Fed has probably finished hiking, with economic data on Friday encouraging that view. The USD was mixed, while equity sentiment rose, the S&P500 closing up 1.0%.
The US dollar and bond yields rose sharply, and equities fell (S&P500 -0.7%). EUR fell after the ECB softened its guidance on any future hikes after delivering the expected 25bp, and strong US economic data boosted the USD.
The Fed hiked by 25bp, as was widely expected, and left the door open to either hiking or holding. Following the press conference, bond yields and the US dollar are slightly lower, while equities are little changed.
Bond yields rose amid stronger second-tier US economic data. Currencies were mixed, while the S&P500 is up 0.3%.
Bond yields and the US dollar rose amid mixed European and US PMI data. The S&P500 is up 0.4%.
The US dollar rose, led by USD/JPY, as reports dampened speculation the BoJ could tighten this week. Bond yields were little changed, as were equities.
The US dollar and bond yields rose, while equities fell (S&P500 -0.7%). Markets were tense ahead of next week’s Fed decision, reacting to even minor economic news.
The US dollar, bond yields, and equities (S&P500 +0.8%) all firmed, despite mixed US economic data.
The US dollar, bond yields, and equities (S&P500 +0.8%) all firmed, despite mixed US economic data.
There was little major news for markets to digest, bond yields and currencies mostly contained. The S&P500 is up 0.4%.
Bond yields and the US dollar rose, helped by stronger US consumer sentiment and inflation expectations.
Bond yields and the US dollar fell further, and equities rose further (S&P500 up 0.9%, highest since March 2022). US PPI inflation was softer than expected, endorsing the disinflationary theme evident in the previous day’s CPI update.
US inflation data was softer than expected, causing bond yields and the US dollar to fall, and equities to rise – the S&P500 up 0.7%.
US equities rose, the S&P500 up 0.7%, and the US dollar fell slightly, with little major news flow for markets to digest.
US bond yields and the US dollar fell amid little major news for markets to digest. Equities are little changed.
US jobs data was not as strong as expected, causing the US dollar to fall. Bond yields were mixed, and equities fell slightly (S&P500 -0.3%).
US economic data was stronger than expected, pushing bond yields higher, and risk-sensitive currencies and equities lower (S&P500 -0.8%).
Bond yields and the US dollar rose as US markets returned from holiday. The FOMC minutes extended these moves slightly.
Sentiment remained elevated ahead of the US holiday, the S&P500 up 0.1%. Bond yields and the US dollar only briefly dipped following weaker US manufacturing data.
Risk sentiment rose further, the S&P500 up 1.2% to a nine-month high. The defensive US dollar fell, while bond yields were mixed. US inflation data softened slightly.
Stronger US economic data boosted bond yields and the US dollar, while the S&P500 is up 0.5%.
Amid quarter end rebalancing, bond yields fell slightly and the US dollar rose. Comments from the global central bank forum caused only a brief spike in yields.
Bond yields rose after stronger than expected US economic data, as did equities (S&P500 1.2%). The US dollar was subdued.
There was little change in bond yields, currencies, and equities, and little major news for markets to digest.
In a risk-averse session, bond yields and equities fell, and the defensive US dollar rose, amid PMI data indicating major economies are slowing.
Bond yields rose following a spate of central bank hikes, while concerns about recessions due to overtightening lifted the safe-haven US dollar.
The US dollar fell, despite Fed Chair Powell’s testimony indicating higher rates to come. Bond yields were volatile for little net change, while equities are slightly lower.
Sentiment was slightly downbeat as US markets resumed after the long weekend, the S&P500 down 0.4%. Matching the mood, bond yields fell, and risk-sensitive currencies fell.
During a thinned session, with US markets closed, European equities fell and bond yields rose amid hawkish ECB comments. The defensive USD outperformed.
Bond yields rose slightly, helped by some hawkish Fedspeak, while currencies were mostly contained. The S&P500 closed down 0.4%.
The USD fell after a hawkish hike from the ECB and some lacklustre US data. US bond yields fell and equities rose, the S&P500 up 1.2%.
US bond yields rose after the Fed’s hawkish pause decision. The US dollar partly recovered lost ground, while equities are little changed (S&P500 -0.2%).
Equities rose further (S&P500 +0.7%), encouraged by a benign inflation update, while the US dollar fell slightly. Bond yields are curiously higher, possibly due to positioning ahead of tomorrow’s FOMC decision.
Equities rose ahead of a busy data and central bank week (S&P500 +0.9%), while bond yields and currencies fluctuated for little net change.
Bond yields, risk-sensitive currencies, and equities rose as risk sentiment remained elevated in a session without much major news for markets to digest.
Bond yields and the US dollar fell after a US jobless claims report. The S&P500 is up 0.6%.
Bond yields rose, helped by the Bank of Canada’s decision to hike its policy rate. The US dollar also rose, while equities fell (S&P500 -0.4%).
US bond yields rose despite little major news. The US dollar was mixed, and equities little changed. The AUD preserved much of its post-RBA reaction.
Bond yields and the US dollar fell following a softer ISM services activity survey. The S&P500 is down 0.2%.
A strong US jobs report helped push bond yields, the USD, and equities higher (S&P500 +1.5%).
Sentiment was upbeat as markets reduced Fed rate expectations following some weaker economic data. The S&P500 is up 1.2%, and the USD and bond yields are lower.
In a volatile session, dovish Fedspeak dominated strong labour data to push bond yields lower. The S&P500 is down 0.6%, while currencies are mixed.
US equities rose amid expectations of a debt ceiling resolution soon, the S&P up 1.3%. Bond yields rose after stronger PCE inflation data. The US dollar was mixed.
Bond yields and the US dollar rose after stronger inflation and labour-related US data. The S&P500 is up 0.9%.
US equities again fell amid little sign of progress in the debt ceiling talks, the S&P500 down 0.7%. Bond yields rose, following strong UK inflation data and hawkish Fedspeak, as did the US dollar.
US equities fell amid no sign of progress in the debt ceiling talks, the S&P500 down 1.1%. The defensive US dollar rose, while bond yields were volatile.
Bond yields rose but currencies and equities were fairly stable. Markets preoccupied with the US debt ceiling talks.
A volatile session left bond yields slightly higher and the US dollar lower. The S&P500 closed down 0.1%. Stalled debt ceiling talks and Fed Chair Powell’s less hawkish comments dominated markets.
Risk sentiment improved amid promising headlines on the US debt ceiling. The S&P500 is up 1.2%, bond yields are higher, and risk-sensitive currencies outperformed.
Stronger US data helped bond yields and the US dollar rise, while equities fell (S&P500 -0.3%).
Amid little major news for markets, the US dollar weakened slightly, while bond yields rose slightly. The S&P500 is up 0.3%.
US bond yields and the US dollar rose after surveyed US inflation expectations were stronger than expected. The S&P500 close down 0.2%.
Sentiment weakened slightly amid headlines on US banks and some softer US economic data. The S&P500 is down 0.2%, bond yields are slight lower, and the USD is higher. The BoE hiked as expected.
US CPI inflation data was slightly softer than expected, causing bond yields to fall sharply. The US dollar weakened slightly, while equities welcomed the result (S&P500 +0.5%).
Bond yields and the US dollar rose, and equities fell (S&P500 down 0.4%), with little major news for markets to digest.
Bond yields rose further, as Friday’s jobs strong jobs data continued to resonate, and credit conditions were not as weak as feared. Risk sensitive currencies outperformed defensive ones. The S&P500 is up 0.1%.
Risk sentiment was boosted by strong US jobs data. The S&P500 closed up 1.9%, bond yields rose, and the defensive USD fell.
US banking sector concerns weighed on risk sentiment, the S&P500 down 0.7%. Short maturity bond yields fell, while currencies were mixed. The ECB and Norges both hiked by 25bp as was expected.
The US Federal Reserve hiked by 25bp, as was widely expected, and hinted at a pause. Bond yields fell slightly in response, while equities also fell (S&P500 -0.7%). The US dollar weakened ahead of the decision, with little change afterwards.
Markets adopted a risk averse posture overnight amid growing concerns about US regional banks and some weak US job openings data. The S&P500 is down 1.1% and bond yields are lower.
Stronger US manufacturing data helped push bond yields and the USD higher. Equities are little changed.
Amid month-end rebalancing, equities rose and bond yields fell, the latter also affected by concerns about US bank First Republic. Currencies were mixed.
Equities rose after strong earnings results from technology companies, the S&P500 up 1.9%. US GDP data disappointed, although the inflation component rose, the latter causing bond yields to rise. Risk-sensitive currencies outperformed.
Markets remained in a risk-averse mood, banking sector concerns persisting. The S&P500 is down 0.5%, and AUD and NZD are lower.
Markets adopted a risk-averse posture, amid some weaker activity data and lingering banking sector concerns. The S&P500 is down 1.6%, the defensive USD is higher, and bond yields are lower.
Interest rates rose after strong economic activity readings in the US and elsewhere. The USD ended little changed, although AUD and NZD underperformed, and equities were modestly firmer.
Interest rates fell amid weaker US and German economic data. The USD is slightly lower, and the S&P500 is down 0.9%.
The USD and interest rates rose slightly, while equities were little changed. Global bond markets reacted to stronger than expected UK inflation data.
The USD retreated slightly amid limited news flow, while equities were little changed and bond yields were mixed.
Bond yields and the USD rose after some hawkish Fedspeak and a rise in inflation expectations. The S&P500 fell 0.2%.
Bond yields fell again, following weaker US private jobs data, recession fears rising. Equities fell, the S&P500 down 0.3%, and the defensive USD rose.
Bond yields fell for a third consecutive day, following weaker US data. The USD followed suit, but equities were not soothed – the S&P500 is down 0.6%.
Bond yields again fell, following weaker US manufacturing data. The USD also fell, while the S&P500 is up 0.4%.
Bond yields fell after a key inflation measure was slightly lower than expected. The S&P500 closed up 1.5%, and the USD rose slightly amid quarter end rebalancing.
Sentiment deteriorated amid continuing reports on financial stability risks. The S&P500 is down 1.0%, bond yields are lower, and the USD is lower.
Sentiment improved as officials signalled support for troubled banks and the ECB followed through on its signalled rate hike. The S&P500 is up 1.4%, bond yields are higher, and the USD is lightly lower.
Recent concerns about some US banks extended to Europe, causing a global flight to safe haven instruments. The S&P500 is down 1.6% and the Eurostoxx50 is down 3.5%. Bond yields plunged and the usually defensive USD rose sharply.
Alarm over the recent US bank failures subsided, and markets partly retraced. The S&P500 is up 1.0%, and bond yields are higher, while the USD is unchanged. US CPI data matched expectations.
US bank failures continued to weigh on bond yields, as markets priced less Fed tightening. The USD also fell, while equities were supported by lower interest rates, the S&P500 up 0.7%.
A mixed US jobs report and news of a US bank failure helped push bond yields, the USD dollar, and equities lower, the S&P500 closing down 1.5%.
Market tension ahead of tonight’s US payroll data was illustrated by a minor US labour report which was weaker than expected, causing bond yields and the US dollar to fall. The S&P500 is down 1.1%.
Bond yields fell and rose for little net change, amid Fed Chair Powell’s repeated testimony and some solid US data. Currencies were contained, while equities fell slightly, the S&P500 down 0.3%. The Bank of Canada’s policy rate was unchanged.
Equity sentiment improved slightly further, markets waiting for Friday’s important US jobs data to provide direction. Bond yields rose slightly, after some hawkish ECB comments, while currencies were mixed, the AUD and NZD underperforming.
Bond yields and the USD fell and risk sentiment rose (S&P500 +1.6%) as market expectations of Fed tightening stalled, encouraged by US services ISM data.
Bond yields and the USD fell and risk sentiment rose (S&P500 +1.6%) as market expectations of Fed tightening stalled, encouraged by US services ISM data.
Bond yields rose in the wake of stronger economic data in the US and Europe, and hawkish Fedspeak. The USD underperformed, and the S&P500 is down 0.6%.
The AUD and NZD were supported by slightly positive risk sentiment (S&P500 +0.3%), while bond yields saw little net change.
US bond yields fell amid month-end rebalancing, and risk sentiment rebounded (S&P500 +0.7%). These two factors weighed on the USD.
US inflation data was stronger than expected, boosting bond yields and the USD and hurting risk sentiment. The S&P500 closed down 1.1%.
US economic data was mixed, weighing on risk sentiment and supporting the defensive USD. The S&P500 is down 0.3%.
Markets were contained ahead of the FOMC minutes, with the USD and equities slightly higher, bond yields slightly lower. Following the minutes (just released), bond yields and the USD have risen.
Bond yields rose on concerns the Fed may need to tighten further than previously thought, fuelled overnight by stronger activity data. That supported the US dollar, but hurt equities, the S&P500 down 1.7%.
Markets were subdued during the liquidity-thinned US holiday. Bond yields rose slightly, as did the AUD and NZD.
Amid little major news flow, the US dollar and bond yields fell, and the S&P500 closed down 0.3%.
Strong US PPI data and hawkish Fedspeak pushed bond yields slightly higher and equities slightly lower, the S&P500 down 0.4%. Currencies pared losses for little net change.
Strong US retail sales data pushed bond yields and the US dollar higher. Equities were only briefly ruffled, the S&P500 currently unchanged.
Markets reacted to the US CPI inflation data by pushing bond yields higher. Currencies were less sensitive, and equities weren’t too ruffled, the S&P500 down 0.1%.
Ahead of key US data, equities rose (S&P500 up 1.1%) and the US dollar fell slightly. Bond yields were little changed.
Fed tightening expectations helped push bond yields and the USD higher. US inflation expectations remained elevated.
Previous strong US jobs data and hawkish Fedspeak continued to resonate, pushing bond yields higher. The S&P500 is down 0.5%, while currencies were mixed. Sweden’s central bank delivered a hawkish hike.
Hawkish Fedspeak weighed on risk sentiment, the S&P500 down 0.8%, and the AUD slightly lower.
Fed chair Powell’s comments were no more hawkish than last week’s, causing a short-lived reaction in bond yields and the US dollar (lower) and equities (higher). Currently, the S&P500 is up 0.6%.
The reaction to Friday’s strong US jobs data extended further, rekindling Fed rate hike expectations. Bond yields and the US dollar are higher, while the S&P500 is down 0.5%.
The ECB and BoE both hiked by 50bp, but markets interpreted their cycles are near an end. Bond yields fell and the US dollar rose. The S&P500 is up 0.9%.
The US Federal Reserve raised its policy rate by 25bp to 4.6%, as was expected, and signalled “a couple more rate hikes” before pausing. Bond yields and the US dollar fell in response, while the S&P500 pared earlier losses to be up 0.8%. Prior to the Fed decision, US economic data was mixed, leaving equities, bond yields and the US dollar slightly lower.
Cooler US economic data helped lift equities, the S&P500 up 1.0%. The US dollar and bond yields fell slightly.
Risk sentiment soured, the S&P500 down 0.9%, despite little major news of note. The defensive US dollar and bond yields rose slightly.
Risk sentiment remained modestly upbeat, the S&P500 closing up 0.3%. Currencies were contained, while bond yields rose and fell for little net change.
US economic data was solid, helping equity sentiment, the S&P500 up 0.6%. The US dollar and bond yields rose slightly.
Equity sentiment continued to falter, the S&P500 down 0.3%. Currencies and bond yields were mixed. The Bank of Canada hiked but signalled a pause.
Equity sentiment stalled amid mixed company earnings reports, the S&P500 down 0.2%. The US dollar and bond yields fell amid weak US activity data.
Equity sentiment continued to improve, led by technology stocks. The S&P500 is up 1.9%, the NASDAQ 100 +2.3%. Risk-sensitive currencies outperformed and bond yields rose.
Equity sentiment rebounded, the S&P500 up 1.9%, and risk-sensitive currencies and bond yields rose. Fed officials advocated a slower pace of tightening.
Equity sentiment remained weak, the S&P500 down 0.8%, and risk-sensitive currencies fell slightly further. Bond yields rose amid hawkish ECB and Fed comments.
US economic data disappointed, raising growth concerns which hurt equity sentiment. The S&P500 is down 1.2%, bond yields are lower, and risk sensitive currencies underperformed.
Markets were again only modestly changed given the lack of major news. Currencies were mixed, while bond yields fell slightly. The S&P500 is unchanged
Markets were contained given the US holiday and no top tier economic data. The US dollar firmed slightly.
Equities reeled after major central banks raised rates and signalled more to come, the S&P500 down 2.8%. The defensive US dollar rose, while bond yields fell on recessionary concerns.
Bond yields and the US dollar were fairly stable overnight, but rose following the hawkish FOMC decision just released. The S&P500 is down 0.4%.
Bond yields and the US dollar plunged after US CPI inflation data was not as strong as expected. The S&P500 is up 0.6%.
Bond yields rose ahead of tonight’s important US inflation data, helping lift the US dollar slightly. The S&P500 is up 0.6%.
Bond yields were boosted by stronger than expected US PPI inflation data, although the US dollar was mixed. The S&P500 closed down 0.7%.
Risk sentiment improved overnight without any obvious catalyst, the S&P500 up 0.9%. That helped depress the US dollar, while bond yields rose slightly.
Bond yields fell further, continuing to price in recession risks, and the US dollar followed suit. The S&P500 is down 0.3% on the day. The Bank of Canada hiked by 50bp but guidance was dovish.
Amid little fresh news of note, bond yields and the US dollar remained elevated, hurting risk sentiment. The S&P500 is currently down 1.7%.
Bond yields and the US dollar rose following stronger than expected US economic data. The S&P500 is currently down 2.0%.
Bond yields and the US dollar jumped following US jobs data which was stronger than expected, although the reactions did not persist. The S&P500 closed down 0.2%.
Bond yields and the US dollar fell further. Fed Chair Powell’s signal of a slower hiking pace continued to resonate, and US manufacturing data disappointed. The S&P500 is currently unchanged.
Bond yields and the US dollar shed earlier GDP data-led gains after Fed Chair Powell’s comments signalled slower rate hikes. The S&P500 is currently up 1.6%.
Equity markets remained defensive ahead of Fed Chair Powell’s speech tonight, the S&P500 down 0.5%. Bond yields are higher, while the US dollar is little changed.
Sentiment was subdued amid China’s rising Covid cases and holiday-thinned US markets. The S&P500 closed unchanged, the US dollar firmed slightly, and bond yields were volatile but little changed.
The AUD and NZD rose slightly further in a US-holiday thinned overnight session, the US dollar weighed down by expectations the Fed will slow the pace of rate hikes.
Bond yields and the US dollar fell after some weak US activity data. The S&P500 is up 0.6%.
Risk sentiment improved as bond yields receded, the S&P500 up 1.0%. The US dollar fell. There was little fresh news of note.
Risk sentiment weakened on China’s Covid wave, the S&P500 down 0.5%. That, and slightly higher bond yields, boosted the US dollar.
Bond yields and the US dollar rose after more hawkish Fedspeak, although equities were resilient, the S&P500 closing up 0.5%.
Bond yields and the US dollar rose after some hawkish Fedspeak, while equities softened slightly, the S&P500 down 0.3%.
Equity sentiment soured slightly following some strong US retail sales data and hawkish Fedspeak, the S&P500 currently down 0.7%. That helped cap the AUD and NZD, while long maturity bond yields fell on expectations the Fed would slow the US economy further.
In a volatile session, the US dollar initially fell further following softer producer inflation data, although mixed Fedspeak and news of missiles reaching Poland caused a retracement. The S&P500 is currently up 0.8%.
Markets were mostly contained in the absence of major news. The S&P500 is up 0.1%, and the AUD. NZD, and bond yields are little changed. Fed VC Brainard’s comments help cap interest rates.
Sentiment remained upbeat, the US dollar lower and the S&P500 up 0.9% during the partial US market holiday. Minor changes to China’s Covid restrictions were announced on Friday, with later reports of a major support package for its property sector.
US inflation data was not as strong as feared, causing equities to rise (S^P500 +4.4%) and bond yields and the US dollar to fall sharply.
The US dollar broke a three-day losing streak after early US mid-term election results did not produce the major changes expected. Bond yields were mixed, and the S&P500 is down 1.7%.
The US dollar fell further ahead of the US mid-term election results, bond yields also falling. The S&P500 was up around 1% for much of the session, but has fallen to flat on the day.
The US dollar fell further amid continuing speculation that China will relax its Covid policies. Bond yields rose, while the S&P500 is up 0.4%.
The US dollar fell sharply in the wake of a mixed US jobs report and further speculation that China would relax its Covid policies. The S&P500 closed up 1.4%, commodities rose sharply, and short-term bond yields fell slightly.
The Bank of England delivered a dovish hike, capping bond yields and helping lift the US dollar further. The S&P500 is down 0.4%.
The Fed hiked by 75bp, as was widely expected, the statement hinting at a slower pace ahead, but Powell’s press conference more hawkish. Bond yields and the US dollar fell and rose in response, while equities appeared disappointed with Powell’s tone, the S&P500 down 0.8%.
Bond yields and the US dollar bounced sharply following strong US economic data, reversing Asian session declines. The S&P500 is down 0.4%.
Bond yields rose further ahead of this week’s important Fed meeting, with stronger inflation data in the Eurozone contributing. The US dollar also rose, while equities fell, the S&P500 down 0.5%.
Asset classes were mixed. Equities were helped by company earnings, the S&P500 closing up 2.5%. Bond yields rose amid elevated readings for US inflation indicators. The US dollar rose slightly.
Bond yields fell after the ECB accompanied its 75bp rate hike with less hawkish guidance. That, and some solid US GDP data, lifted the US dollar. The S&P500 is down 0.4%.
Bond yields and the US dollar fell amid continued speculation that the Fed will slow its tightening pace, encouraged by the Bank of Canada’s decision to hike by a smaller than expected 50bp increment. Equities are lower, though, the S&P500 down 0.8%.
Risk sentiment improved further amid a slew of weaker US economic data which supports the case for a Fed slowdown. The S&P500 is up 1.5% and at a one-month high, and bond yields and the US dollar are lower.
Risk sentiment improved further amid speculation the Fed will slow its tightening cycle, the S&P500 up 1.4%. Bond yields rose, though, and risk sensitive currencies fell.
Bond yields rose amid hawkish comments from Fed members. Equity markets fell (S&P500 -0.7%), while currencies were mixed.
Bond yields rose as Fed rate expectations were increased, hurting equity market sentiment (S&P500 -0.6%) and lifting the US dollar.
Equity market sentiment remained upbeat in anticipation of solid company earnings reports, the S&P500 up 0.5%, but currencies and bonds were contained.
Risk sentiment improved without an obvious catalyst, the S&P500 up 2.7%. The US dollar fell, and bond yields rebounded.
Stronger US economic data prompted markets to push Fed rate expectations higher. Bond yields and the US dollar rose, while equities fell, the S&P500 closing down 2.4%.
Markets initially reacted to stronger than expected US inflation data, but the reactions were later curiously retraced. The S&P500 is now up 2.7%, and the US dollar is lower, although short maturity bond yields have retained most of their gains.
Markets were in a holding pattern ahead of tonight’s key US inflation data. The S&P500 is down just 0.1%, and bond yields and most currencies are little changed.
Markets paused prevailing trends overnight, the S&P500 up 0.4%, and bond yields and the US dollar lower.
The risk averse mood persisted during the US holiday, the S&P500 down 0.6%. Global bond yields rose, and the US dollar is higher.
A solid US jobs report caused bond yields and the US dollar to rise further, and equities to fall – the S&P500 closing down 2.8%.
Bond yields rose amid more hawkish Fedspeak. The US dollar also rose, while the S&P500 is down 1.1%.
Bond yields rose as market expectations of a Fed slowdown waned, partly helped by healthy US services data. The US dollar rose and the S&P500 is unchanged.
The rebound in risk sentiment continued, the S&P500 up 2.9%. The defensive US dollar fell, and bond yields rose slightly. Stretched positioning, as well as US job openings data, likely contributed to the moves.
“Tighter monetary policy has begun to cool demand and reduce inflationary pressures, but our job is not yet done,” Williams said Monday in remarks prepared for a speech in Phoenix. “It will take time, but I am fully confident we will return to a sustained period of price stability.”
Equities reversed the previous day’s gains amid hawkish Fedspeak, solid US activity data, and high German inflation. The S&P500 is down 2.7%. Bond yields rose and fell, while currencies were rangebound amid quarter-end rebalancing.
The Bank of England surprised markets by announcing a temporary bond buying programme. Global bond yields fell in response, and risk sentiment rose. The S&P500 is up 2.1%, and the defensive US dollar fell sharply.
Risk sentiment improved further ahead of tonight’s important US inflation update. The S&P500 is up 1.0%, bond yields are slightly higher, and the defensive US dollar is lower.
US bond yields rose further amid hawkish Fedspeak, but that did not deter equity markets – the S&P500 closing up 1.5%. The risk-seeking mood hurt the USD.
Bond yields rose after the ECB hiked by 75bp. Equities weren’t too ruffled, though, the S&P500 up 0.7%, and currencies are little changed.
Bond yields retreated amid some paring of tightening expectations of the ECB and BoE, as well as less hawkish Fed commentary and a slump in oil prices. That helped US equities, the S&P500 up 1.9%, while the US dollar fell.
Bond yields extended a month-old rise amid hefty corporate bond issuance and US data showing robust services activity. That helped boost the USD to a fresh 20-year high, and unnerved equities – the S&P500 down 0.4%.
Markets were mostly contained overnight given the US holiday. The Eurostoxx 50 closed down 1,5% amid energy shortages and recession concerns, while S&P500 futures are up 0.3%. Bond yields rebounded, and the USD is slightly higher.
A lukewarm US jobs report helped push bond yields lower. The closure of a gas pipeline to Europe helped the USD recover and hurt equities, the S&P500 closing down 1.1%.
Solid US manufacturing data helped boost the US dollar – already supported by deteriorating risk sentiment and higher interest rates - to a 20-year high. Bond yields also rose, while the S&P500 is down 0.3%.
US equities extended the week’s decline further, the S&P500 down 0.8%. Bond yields remained elevated, while risk-sensitive currencies tested recent lows. There was little fresh news of note.
Solid US data updates on consumer sentiment and job openings raised Fed tightening expectations further. Bond yields rose, equities fell (S&P500 down 1.1%), and risk-sensitive currencies underperformed.
The effects of Fed Chair Powell’s hawkish speech on Friday lingered. The S&P500 is down 0.7% and bond yields are higher. The AUD and NZD firmed slightly though.
Fed Chair Powell’s hawkish speech boosted the US dollar and hurt equity sentiment, the S&P500 closing down 3.3%. Bond yields were volatile, with short maturities ending slightly higher.
Bond yields fell on the eve of the major central bank gathering at Jackson Hole. The US dollar fell slightly, and the S&P500 rose 1.4%.
Bond yields continued to rise ahead of tomorrow’s central bank gathering at Jackson Hole. Currencies were little changed, though, and the S&P500 is up 0.4%.
Disappointing US activity data hurt the US dollar and weighed on bond yields. The S&P500 is down 0.2%.
Negative sentiment towards equities intensified with fears of hawkish Fed signals later this week. The S&P500 is down 2.1%, and bond yields and the US dollar are higher.
Sentiment in the US equity market was negative (S&P500 -1.3%), and that spilled over to currencies. Bond yields rose ahead of this week’s important gathering of central bankers at Jackson Hole.
The US dollar rose, helped by hawkish Fed comments, but bond yields fell slightly and equities rose slightly (S&P500 +0.2%).
Sentiment weakened slightly amid a mix of strong UK inflation, solid US retail sales data, and geopolitical news. The Fed minutes were a calming influence later in the session. The S&P500 is down 0.7%, and bond yields and the US dollar are higher.
Solid US industrial production data helped bond yields rise, while currencies and equities were little changed.
The combination of yesterday’s weak Chinese data and surprise rate cut, plus weak US data overnight, weighed on global bond yields. The defensive US dollar rose, while equities appeared to remain hopeful the Fed would slow down, the SP500 up 0.4%.
US equities continued to rise on expectations that inflation may have peaked and Fed tightening may slow, the S&P500 closing up 1.7% - a three-month high. Bond yields were mixed – short maturities rising slightly and long maturities falling slightly. Currencies were also mixed, the US dollar slightly higher overall.
US equities were contained, the S&P500 unchanged on the day. Currencies were also contained, the USD only slightly lower. Longer maturity bonds yields rose, though, perhaps speculating on the inflationary consequences of a Fed slowdown.
Eagerly awaited US inflation data was not as strong as feared, boosting equities (S&P500 +2.1%) and depressing bond yield and the US dollar. The AUD and NZD outperformed.
US interest rates rose slightly further after strong wage inflation data, and equities fell (S&P500 -0.4%). Currencies were mostly contained.
Markets pared the positive USD and bond yield reactions to Friday’s strong jobs data. The S&P500 is down 0.1% on the day.
US jobs data was much stronger than expected, and bond yields and the US dollar rose in response. Equities initially fell, but mostly recovered to see the S&P500 close down 0.2%.
Equities stalled as company earnings disappointed, the S&P500 down 0.1%. Bond yields fell slightly, weighing on the US dollar. The BoE hiked by 50bp but the GBP fell in response.
Solid US economic data and company earnings helped lift equities, the S&P500 up 1.6%. Bond yields and risk-sensitive currencies rose slightly.
Currency markets were defensive amid news of US officials visiting Taiwan, and the S&P500 is down 0.2%. Bond rose, though, after hawkish Fed comments.
A slightly risk-averse tone permeated most asset classes, Fed tightening and recession concerns the recurring themes. The S&P500 is down 0.6%, and longer bond yields are lower, but the defensive USD is also lower.
Stronger US inflation indicators initially helped the US dollar, but upbeat sentiment in equity markets (S&P500 +1.4%) reversed the move.
Disappointing US GDP data helped push bond yields lower, which encouraged equity markets (S&P500 +1.2%). The US dollar is slightly lower.
The Fed hiked by 75bp as expected, but signalled a slowdown in tightening pace. That lifted US equities (S&P500 +2.7%) and depressed the US dollar and bond yields.
US equity markets adopted a more risk averse posture ahead of tomorrow’s Fed decision, Walmart’s guidance reinforcing the mood. The S&P500 is down 1.2%, and the defensive US dollar is higher.
Markets appeared to be in waiting mode, with the Fed decision and key US data released later this week. The S&P500 is up 0.1%, bond yields are slightly higher following hawkish ECB comments, and the US dollar is slightly lower.
Global PMI data disappointed, weighing on sentiment. The S&P500 closed down 0.9% and bond yields fell. Currencies were mixed.
The ECB hiked by 50bp – more than expected, but bond yields in Europe and the US fell on recession concerns. The USD is only slightly lower, while the S&P500 is up 1.0%.
Sentiment was mixed. Italian political woes and Russian gas curtailment threats initially weighed, but upbeat US earnings reports helped a rebound. The S&&P500 is up 0.8%, bond yields are slightly higher, while the USD is slightly higher.
Sentiment was upbeat, buyers emerging to push the S&P500 up 2.6%, despite little fresh news of note. Bond yields rose and the US dollar fell, both following the risk-seeking theme on the day. Speculation the ECB could hike by 50bp tomorrow increased.
US equities fell slightly, the S&P500 down 0.9%. Bond yields, though, rose, and the US dollar is lower. There was little new of note.
US equities were helped by mostly supportive economic data, the S&P500 closing up 1.9%. The defensive US dollar fell, while bond yields were little changed.
US Fedspeak cooled market expectations of a 100bp rate hike later this month. The US dollar pared earlier gains. The S&P500 is down 0.3%, dented by company earnings reports.
US inflation data was stronger than expected, raising concerns the Fed will hike faster and thereby increase the risk of a recession. The Bank of Canada hiked by 100bp, exceeding expectations. Currencies were volatile but are little changed, while short bond yields are higher and long yields are lower. The S&P500 is down 0.5%.
Bond yields and the US dollar were contained ahead of today’s important US inflation data, but the S&P500 is down 0.9%, and major commodities are lower.
Risk aversion permeated markets. The S&P500 is down 1.2%, bond yields are lower, and the defensive US dollar is higher.
There were mixed reactions to the solid US jobs data. Bond yields rose as recession risks receded, but the US dollar fell slightly. Equities gyrated between initial losses and then gains, the S&P500 closing down 0.1%.
Recession fears appeared to ease, despite no major news for markets to digest. The S&P500 is up 1.5%, bond yields and commodities are higher, and commodity currencies outperformed.
US bond yields rose sharply, partly helped by data which soothed recession concerns as well as hawkish Fed minutes. The US dollar also rose, and the S&P500 is up 0.4%.
US markets returned from the long weekend and continued to price in recession risks. Commodities are sharply lower, the defensive US dollar is higher, and bond yields are lower.
Markets were subdued during the US holiday. The Eurostoxx50 closed up 0.1%, S&P500 futures are down 0.3%. Bond yields rose slightly, while currencies were mixed.
Recession fears remained the main driver on Friday, US bond yields falling sharply after a disappointing US manufacturing survey. That also caused the US dollar to pare earlier gains. US equities curiously closed higher, the S&P500 up 1.1%.
Risk aversion continued, the S&P500 down 0.9% and bond yields lower. The US dollar did not benefit, though, weighed down by lacklustre economic data.
The risk averse mood persisted in Europe and the US, the S&P500 down 0.2%. The defensive US dollar rose, and bond yields fell. US GDP and German inflation undershot expectations.
Sentiment flipped to a downbeat stance, the S&P500 down 2.0% and the defensive US dollar higher. Bond yields retraced initial gains. US consumer confidence fell.
There were mixed performances among asset classes amid quarter end portfolio rebalancing. The S&P500 is down 0.5% and bond yields are higher, while currencies were mixed.
Risk sentiment improved further on Friday amid receding recession fears, the S&P500 closing up 3.1%. The defensive US dollar fell, while bond yields rose slightly. US inflation expectations were revised slightly lower.
Bond yields fell before and after Fed chair Powell’s testimony, which was less hawkish than expected. That appeared to help equities, the S&P500 up 0.4%. The US dollar fell.
US markets returned from a long weekend in a bullish mood, the S&P500 up 2.7%. Bond yields rose slightly, while currencies were again contained.
Risk sentiment improved slightly during the US holiday. The Eurostoxx index is up 0.9%, and S&P500 futures are up 1.1%. Bond yields rose slightly, while currencies were contained. There were hawkish comments from ECB and BoE officials.
Risk sentiment appeared to stabilise on Friday, the S&P500 closing up 0.2%. Bond yields were also relatively stable. The US dollar rose.
Markets were in a risk averse mood, concerned about the impact on the economy from aggressive tightening. The S&P500 is down 3.2% and bond yields are lower. The US dollar underperformed, weighed down by US recession fears as well as yield spreads, with the UK and Swiss central banks delivering hawkish surprises overnight.
The Fed hiked by 75bp, as was widely expected following last Friday’s strong inflation data. With markets well positioned for the move, the US dollar and bond yields fell in response, and the S&P500 is up 1.5%.
The risk averse mood continued on the eve of the Fed’s rate decision. The S&P500 is down 0.4%, and at the lowest level since March 2021. The defensive US dollar made a fresh 20-year high, and bond yields rose further to decade highs.
Risk sentiment fell sharply after a surprisingly strong US inflation update which indicated the Fed may need to tighten even faster. The S&P500 closed down 2.9%, the defensive US dollar rose, and bond yields rose.
Risk sentiment continued to deteriorate on concerns central bank tightening will slow economies and hurt assets. The S&P500 is down 3.9%, and at the lowest level since March 2021. The defensive US dollar rose to a 20-year high, and bond yields rose to decade highs. There was no fresh news of note, markets still reeling from Friday’s strong US inflation data.
A risk averse mood prevailed, the S&P500 down 2.4%. The defensive US dollar is higher, as are bond yields following the hawkish ECB.
US equities fell as higher oil prices rekindled stagflation concerns. The S&P500 is down 1.1%, and bond yields and the defensive US dollar are slightly higher.
US equities rose, the S&P500 up 1.8%, and the defensive US dollar fell. Subdued labour data may have been read as Fed-friendly. Bond yields were contained.
Bond yields jumped following strong US economic data. The US dollar benefitted from higher yields, while equities fell, the S&P500 down 0.8%. Bank of Canada hiked by 50bp as was widely expected.
Equity markets in Europe and the US pared recent gains, the S&P500 down 0.6%. Currencies were mixed with little net movement, while bond yields rose slightly following strong European inflation data.
Physical US markets were closed, but equity futures indicated a further moderate gain in the S&P500, following a 0.9% gain in the Eurostoxx50. The USD and other safe-haven currencies again fell, while bond yields rose following strong German inflation data.
The US equity markets rebound continued, the S&P500 closing up 2.5%. The US dollar fell slightly, while bond yields were changed. There was little market-moving news.
US equity markets rebounded, the S&P500 currently up 1.0%. The US dollar is slightly higher, while bond yields are little changed. FOMC minutes indicated consensus on two more 50bp hikes, with a reassessment thereafter.
US equity markets fell sharply at the open and then partly recovered, the S&P500 currently down 0.8%. Bond yields fell with equities, later fuelled by some disappointing US data. Currencies were mixed and relatively contained.
Equity markets rose, partly helped by conciliatory comments from the US on trade with China, as well further stimulus announced by China. The S&P500 is currently up 1.6%, bond yields are higher, and the defensive US dollar is lower.
Equity markets were volatile, the S&P500 recovering from a 2.3% loss (and a one-year low) to close unchanged on the day. Bond yields fell, and the defensive US dollar rose. There was little major market-moving news.
Equity markets were volatile, the S&P500 recovering from a 2.3% loss (and a one-year low) to close unchanged on the day. Bond yields fell, and the defensive US dollar rose. There was little market-moving news.
Equity markets retained a risk-averse posture, the S&P500 down 0.6%. US bond yields also fell, displaying lingering caution on the economic outlook. Against that, the defensive USD underperformed all the majors, with higher commodity prices perhaps at play. There was little fresh news of note.
Risk aversion took hold as equity markets observed inflation’s impact on company earnings, the S&P500 down 4.2%. The defensive US dollar rose, while US bond yields fell.
Risk sentiment was upbeat amid some solid US economic data, the S&P500 up 2.0%. The defensive US dollar fell, while US bond yields rose, the latter helped by hawkish comments from Fed Chair Powell.
US equity markets couldn’t maintain initial gains, the S&P500 sagging at the close to be down 0.4%. The US dollar and US bond yields fell.
Equity markets rebounded after a torrid six weeks, the S&P500 up 2.4%. Risk-sensitive currencies outperformed, and bond yields rose slightly.
Equity markets deteriorated further, the S&P500 down 1.7% to a 14-month low, and 20% below the peak in January. Bond yields fell further, and safe-havens USD and JPY rose.
Stronger than expected US inflation data stoked concerns about Fed tightening and possible recession. Short-term interest rates are slightly higher, long term rates slightly lower, and the S&P500 is down 1.7% to a 12-month low. The USD was volatile but is little changed.
US equity market sentiment stabilised, the S&P500 off a 12-month low and up 0.3% on the day. Bond yields fell further, and the US dollar rose.
US equity market sentiment deteriorated further, weighed down by concerns that rate hikes could cause a recession. The S&P500 is down 3.2% and at a 12-month low. Bond yields fell, as did risk-sensitive currencies.
Equity market sentiment remained defensive in the wake of a solid US jobs report, the S&P500 closing down 0.6%. Bond yields rose slightly, while the US dollar closed little changed.
Markets reversed the previous day’s dovish response to the Fed decision, as inflation concerns resurfaced. The S&P500 is down 4.1%, and bond yields and the US dollar are higher.
The Fed hiked by 50bp but Chair Powell was not as hawkish as equity markets had feared, the S&P500 up 3.0% in response. Bond yields and the USD fell as 75bp hikes were ruled out.
US equities halted a losing streak on the eve of the Fed decision, the S&P500 up 0.5%. Bond yields and the US dollar also paused.
US equities weakened further for most of the session amid concerns about higher interest rates and slower economic growth, the S&P500 making a fresh 12-month low before rebounding near the close to +0.5%. Bond yield rose ahead of this week’s key Fed meeting, despite disappointing manufacturing data. The US dollar rose.
US equities fell amid economic growth concerns, the S&P500 down 3.6% to a 12-month low. Bond yields rose, helped by stronger wage inflation data, while AUD and NZD underperformed.
US equities rose amid strong company earnings reports, the S&P500 up 2.5%. Bond yields rose, despite disappointing US GDP data, as did the US dollar to a 19-year high.
US equities stabilised, the S&P500 up 0.2%. Bond yields rose, as did the US dollar to a five-year high. There were few major news catalysts.
US equities extended April’s decline, the S&P500 down 1.0% to a six-week low as growth concerns continued to weigh and Russia cut gas supplies. Bond yields fell, and the defensive US dollar rose to a fresh two-year high.
European equities fell to a one-month low, while US equities have recovered from an initial slump, the S&P500 up 0.6%. Bond yields fell, and the defensive US dollar rose to a two-year high.
US equities are lower, the S&P500 down 1.5%. Bond yields rose amid some hawkish central bank comments. The AUD and NZD underperformed.
US equities are little changed, the S&P500 up 0.1%. But bond yields fell from multi-year highs, as did the US dollar, as markets reassessed Fed rate hike expectations.
US equities rose amid a solid start to the company reporting season, the S&P500 up 1.6%. Bond yields rose further to three-year highs, as did the US dollar to a two-year high, while commodities fell on growth concerns.
US equities fell to a one-month low in thin post-Easter trading, the S&P500 down 0.1%. Bond yields rose slightly further to three-year highs, as did the US dollar to a two-year high.
US equities rose as interest rate expectations were pared further, the S&P500 up 1.1%. Bond yields fell further, while the US dollar retreated from a multi-year high. Bank of Canada hiked by 50bp.
US equities continued to weaken, the S&P500 down 0.2%. Bond yields fell after US core inflation data disappointed. Currencies were mixed, AUD and NZD outperformance helped by higher commodities.
US equities fell further as bond yields rose further, the S&P500 down 1.7%. The US dollar rose slightly, to a two-year high.
US equities continued to consolidate amid little fresh news of note, the S&P500 closing down 0.3%. The AUD and NZD fell slightly, while US bond yields rose to three-year highs.
Risk sentiment was relatively stable amid little fresh news of note. The S&P500 is up 0.4%, and the US dollar is slightly higher, while US bond yields rose to three-year highs.
US equities again fell, the Fed meeting’s minutes confirming recent hawkish signals. The S&P500 is down 1.0%, and the defensive US dollar is higher, while US bond yields consolidated.
US and European equities fell, amid discussions of further G7 sanctions on Russia. The S&P500 is down 1.3%, and the defensive US dollar is higher. US bond yields rose after hawkish comments from Brainard.
Equities sentiment was moderately upbeat amid little major news flow, the S&P500 up 0.7% on the day. Commodity currencies outperformed. Bond yields are little changed.
Equities sentiment remained slightly defensive, the S&P500 closing down 0.3% on the day. US bond yields and the USD rose though, helped by a solid jobs report.
Sentiment remained slightly defensive, the S&P500 down 0.6% on the day. The defensive US dollar rose, and bond yields nudged lower.
Sentiment soured slightly as Ukraine/Russia talks disappointed, the S&P500 down 0.6% on the day. The US dollar fell, and bond yields ranged near recent lows.
Sentiment improved slightly amid Ukraine/Russia talks, the S&P500 up 0.8% on the day and at a two-month high. The defensive US dollar fell, while bond yields again fell.
US equities are little changed, the S&P500 up 0.1% on the day. Bond yields pulled back slightly from multi-year highs. The US dollar outperformed.
US equities rallied near the close, the S&P500 up 0.5% on the day and at a six-week high, with few fresh news drivers. Bond yields surged after analysts upgraded Fed rate forecasts. The AUD remained elevated.
US equities recovered the previous day’s losses amid some solid US economic data, the S&P500 currently up 1.0%. The AUD rose slightly, while bond yields were rangebound.
A six-day rally in US equity markets stalled amid ongoing concerns about stagflation and war, the S&P500 currently down 0.8%. Bond yields also fell, while commodities and the AUD performed well.
Buyers returned to the US equity market, the S&P500 currently up 1.1%. Bond yields are higher, as are the AUD and NZD.
US equity market sentiment soured amid hawkish Fed comments. The S&P500 is down 0.6%, bond yields are higher, and the US dollar is slightly higher.
US equity market sentiment remained upbeat amid mixed signals from various peace talks. The S&P500 closed up 1.2%, bond yields were mixed, and commodity currencies performed well.
US equity market sentiment remained upbeat despite little sign of progress in the Ukraine/Russia talks, the S&P500 currently up 0.9%. Bond yields are little changed, while commodity currencies performed well.
Equity market sentiment was upbeat, helped by reports of progress in Ukraine-Russia discussions. That sentiment was only briefly dented by the FOMC’s rate hike and guidance. The S&P500 is currently up 1.6%, bond yields are higher, and the US dollar is weaker.
Sentiment in equity markets picked up, the S&P500 currently up 1.4%. Currencies and bond yields are little changed on the eve of the Fed decision, while oil prices again fell.
Markets remained in a risk-averse mood amid the continuing war in Ukraine and covid-related lockdowns in China. The S&P500 is currently down 0.8%, and the AUD and NZD fell further. Oil prices fell, while bond yields rose.
Markets closed in a risk-averse mood amid the continuing war in Ukraine. The S&P500 closed down 1.5%, the safe-haven USD rose, and oil and bond yields rose slightly.
Sentiment among asset classes was mixed: equities were weak (S&P500 currently down 1.0%), and the safe-haven USD rose, although commodity currencies outperformed. Oil prices fell, but bond yields continued to rise, helped by a slightly hawkish ECB.
Risk sentiment was helped by reports of Ukrainian diplomacy and oil talks. The S&P500 is currently up 2.5%, the safe-haven USD is lower, and oil prices fell. Bond yields continued to rise.
US equity markets stabilised, despite little change in the complexion of Ukraine news, the S&P500 currently up 0.1%. The safe-haven USD fell, while bonds yields continued to rise in anticipation of higher inflation.
Markets were rattled by stagflation prospects, amid talk of a US ban on Russian oil which sent prices to a 14-year high. The S&P500 is currently down 2.2%. The safe-haven USD rose, while bonds yields rose in anticipation of higher inflation.
Markets continued to be driven by headlines on Ukraine, the S&P500 closing down 0.8%. Bond yields fell slightly, a strong US jobs report dominated by safe-haven buying. The AUD and NZD again outperformed, helped by rising commodity prices.
Equity markets were fairly stable overnight, the S&P500 currently unchanged. Bond yields were also contained, while the AUD and NZD again outperformed.
Risk sentiment improved overnight despite continuation of the war in Ukraine. The S&P500 is currently up 1.9%. Bond yields rose sharply, helped by Fed chair Powell’s hawkish remarks. Commodities rose further, and commodity currencies outperformed.
The war in Ukraine continued to weigh on US and European equities, the S&P500 currently down 1.8%. Bond yields fell sharply, and the defensive US dollar rose, and commodities – especially oil - posted large gains.
The Ukraine war weighed on US and European equities, the S&P500 currently down 0.7%. Bond yields fell, and the defensive US dollar rose, although commodity currencies performed well.
Risk sentiment rebounded amid mixed headlines on Ukraine. European and US equities rose, the S&P500 closing up 2.2%. Bond yields rose slightly, and the defensive US dollar fell.
Risk sentiment deteriorated further following news that Russia had invaded Ukraine. The S&P500 was down 2.6% at one point, but has rebounded during the past few hours to +0.3%. Bond yields also fell and then rebounded, while the defensive US dollar rose sharply.
US equity markets continued to fluctuate with headlines regarding Ukraine, but retain a risk averse stance, the S&P500 down 0.8%. Bond yields were mixed, while commodity currencies outperformed.
US equity markets remained in risk averse mode amid developments in Ukraine, the S&P500 down 1.5%. Other asset classes were more upbeat though, bond yields and risk-sensitive currencies rising.
The risk averse mood continued in US-holiday thinned markets overnight, headlines on Ukraine dominating near term sentiment. European equities fell - the Eurostoxx50 down 2.2% - as did bond yields (slightly), while currencies were less affected.
The risk-averse mood in markets persisted, Ukraine and Fed tightening remaining the main concerns. The S&P500 fell 0.7%, bond yields fell, and the defensive USD rose.
A slightly risk-averse mood prevailed in equity and bond markets, the S&P500 currently down 1.5%. Ukraine and Fed tightening remained the main concerns. Currencies were mixed.
Risk sentiment remained fragile, with Ukraine and Fed tightening the main concerns. The S&P500 is currently down 0.7%, bond yields are mixed, and the AUD and NZD are higher. The FOMC minutes just released are pushing the USD slightly lower.
Risk sentiment improved on headlines regarding Ukraine. The S&P500 is currently up 1.5%, bond yields are slightly higher, and the defensive USD is slightly lower.
Risk sentiment was volatile, with market focussing on news regarding the Ukraine. The S&P500 is currently down 1.2%, bond yields are slightly higher, and the USD is slightly higher.
Risk aversion took hold amid rising tensions in Ukraine. The S&P500 fell 1.9%, bond yields fell, and the defensive US dollar rose.
A surprisingly strong US inflation report caused bond yields to jump. US equities fell, the S&P500 currently down 1.5%, while the US dollar was volatile and is slightly lower.
US equities rose, the S&P500 currently up 1.2%, while the US dollar and bond yields fell slightly.
US equities rose, the S&P500 currently up 0.8%, while the US dollar and bond yields rose slightly. There was little market-noteworthy news.
There were no major events to ruffle markets overnight, leaving US equities little changed (S&P500 +0.1%), and the US dollar and bond yields little changed.
A surprisingly strong US jobs report helped push bond yields and the US dollar higher. Equities also closed on a positive note, the S&P500 up 0.5%.
US and European equities fell amid hawkish outcomes from central banks. The BoE hiked by 25bp, and the ECB voiced inflation concerns. The S&P500 is down 1.7%, the US dollar is lower, and bond yields are higher.
US equities recovered further following recent Fed comments that tightening will probably be gradual. The S&P500 is up 0.7%, and bond yields and the US dollar are lower.
The US dollar retreated further and the NZD and AUD outperformed. Bond yields rose slightly, while US equities are little changed.
US equities rose for a second consecutive day, the S&P500 up 1.3%. The improved sentiment also lifted the AUD and NZD. Bond yields continued to consolidate.
US equities rebounded without any obvious news catalysts, the S&P500 closing up 2.4%. Bond yields fell, though, as did the AUD and NZD.
US equities are slightly lower, the S&P500 currently down 0.2%, as markets reflect on yesterday’s signal from the Fed that it would start raising rates in March. The US dollar has risen further, while bond yields are lower on over-tightening concerns.
Following the FOMC decision, which signalled rate hikes starting soon, the S&P500 held its earlier gain of 1.5%. The outcome was as expected, leaving the US dollar unchanged, while bond yields rose slightly.
US equity markets were again buffeted by concerns the Fed may tighten its stance at tomorrow’s meeting, as well as geopolitical tensions. The S&P500 is currently down 2.0%, and risk-sensitive currencies and bond yields remained capped.
The risk averse mood continued, amid escalating tensions in the Ukraine, the looming Fed meeting, and inflation concerns. The S&P500 is currently down 3.0%, and at a low since June 2021. Bond yields and risk-sensitive currencies fell.
Sentiment was weighed down by escalating tensions in the Ukraine, the looming Fed meeting, and inflation concerns. The S&P500 closed down 1.9% (for a total decline in January of 9%), and bond yields and risk-sensitive currencies fell slightly.
Bond yields fell slightly, helping equities arrest a multi-week decline. The S&P500 is currently up 1.2%.
Buyers returned to the bond and equity markets, lifting the S&P500 0.3%. Bond yields and the US dollar fell, boosting the AUD and NZD.
US and European equities fell and bond yields rose, as markets raised their outlooks for central bank interest rates even further. The S&P500 is down 1.9%, and the AUD and NZD are lower.
Markets were mostly contained inside narrow ranges, amid a light global event calendar and a US holiday (MLK). The US dollar and bond yields remained elevated.
US bond yields and the US dollar rose despite disappointing US economic data, hawkish Fedspeak contributing. That weighed on the AUD and NZD. US equities were little changed, the S&P500 up 0.1%.
Central banks in the UK, Norway and Eurozone tightened policy stances, which helped weaken the US dollar. The S&P500 is down 0.5%, while US bond yields fell in divergence with European yields.
The US Federal Reserve delivered a moderate hawkish surprise to markets, projecting more rate hikes than were expected. The S&P500 shrugged off the result and is currently up 0.2%, while the US dollar and bond yields are slightly higher.
US equities were again weaker, the S&P500 down 1.2%. A strong US producer inflation report reinforced concerns the Fed will deliver a hawkish outcome tomorrow. The US dollar and bond yields are slightly firmer.
US equities were weaker, the S&P500 down 0.7%, ahead of a key central bank meeting this week. The defensive US dollar is slightly firmer, and bond yields are lower.
Equity markets remained stalled amid a continuing digestion of omicron news. The S&P500 is currently down 0.2%, bond yields are lower, and the defensive US dollar is higher.
Equity markets stalled following a three-day rally, the S&P500 currently up 0.1%. Bond yields continued to rise, and the defensive US dollar fell.
Equity markets remained in risk-seeking mode, as concerns about omicron receded. The S&P500 is currently up 2.1%, bond yields and commodity prices are higher, and risk-sensitive currencies outperformed.
The equity market mood flipped to risk-seeking, the S&P500 currently up 1.5%. Bond yields are slightly higher, while currencies were mixed. There was little news to drive markets, apart from a monetary policy easing in China.
A risk-averse mood prevailed, amid omicron concerns and a mixed US jobs report. The S&P500 fell (-0.8%), as did bond yields and risk-sensitive currencies.
US equities rose, as dip-buyers again emerged. The S&P500 is up 1.5%, and bond yields are slightly higher, while the AUD and NZD are little changed.
US equities partly recovered, buyers taking advantage of recent cheapening. The S&P500 is up 0.4%, although that sentiment didn’t ripple to currencies or bonds.
Fed Chair Powell surprised markets by signalling faster tapering. The S&P500 fell 1.6% and short-maturity bond yields rose. Risk-sensitive currencies and commodities fell.
Markets appeared calmer about the implications of the new Omicron variant. The S&P500 rose 1.6%, and the US dollar and bond yields consolidated above recent lows.
During a holiday-thinned trading session, markets flipped to risk-averse mode following news of a new Covid variant – Omicron. The S&P500 fell 2.3%, and bond yields and the US dollar are lower.
In a quiet session, given the US holiday, AUD and NZD probed slightly lower. The Eurostoxx50 closed up 0.4%. Sweden’s central bank kept its policy rate unchanged.
A solid set of US economic data boosted the US dollar and interest rates. The S&P500 is up 0.1% on the day.
The risk-averse mood in equity markets extended to a second day, the S&P500 currently down by 0.3%. Bond yields rose slightly further, while the US dollar is little changed.
The US dollar and bond yields rose after Fed Chair Powell was renominated for the role. The S&P500 is currently up 0.5% on the day.
Sentiment weakened amid fresh pandemic-related restrictions in Europe. The S&P500 closed down 0.1% on the day, and risk-sensitive currencies and bond yields fell. Some hawkish Fedspeak partly reversed the latter.
US equities shrugged off early losses, the S&P500 currently up 0.3% on the day. The improved sentiment weighed on the defensive US dollar.
A slightly risk-averse tone crept into equity and bond markets, the S&P500 down 0.1%. The AUD and NZD remained near one-month lows.
The US dollar rose following strong US retail sales and industrial production data. US equities also rose, the S&P500 up 0.7%.
The US dollar and bond yields rose, with no obvious news catalysts apart from some hawkish comments from ex-Fed members. The S&P500 is currently unchanged.
US equities rose, the S&P500 up 0.7% on the day. The AUD and NZD also performed well, after initially making one-month lows. Short-maturity bond yields fell.
Amid a holiday-thinned session in the US, the US dollar rose slightly further and bond yields remained elevated - residual effects of yesterday’s strong inflation data. The S&P500 is up 0.2%.
Strong US inflation data boosted bond yields and the US dollar, but depressed equities (the S&P500 is currently down 0.3%) and commodities.
Risk sentiment appeared to weaken broadly, with risk sensitive currencies, bond yields, and equities all lower. The S&P500 is down 0.5%. There was no major market-moving news.
US equities remained elevated, the S&P500 up 0.1% currently. The US dollar fell, while bond yields rose amid some hawkish Fedspeak.
The Bank of England surprised markets by not hiking, causing a fall in bond yields globally as central bank paths were repriced. The GBP fell sharply, dragging other risk-sensitive currencies lower. The S&P500 is up 0.3% to a record high.
The Federal Reserve announced that it would start reducing QE this month. This was widely expected, the USD slightly lower but bond yields slightly higher in response. The S&P500 is up 0.5% on the day.
Equity market sentiment was strong, the S&P500 rising 0.3% to a record high. That didn’t benefit risk-sensitive currencies, though, and bond yields fell.
In a subdued session with markets awaiting this week’s Fed meeting, the S&P500 fell 0.1% from a record high, and the US dollar and bond yields fell slightly.
In a choppy session marked by month-end rebalancing, the S&P500 rose 0.2% to a record high, the US dollar rose sharply, and bond yields fell.
US equities rose, the S&P500 up 0.7% and at a record closing high. The US dollar fell, as US GDP disappointed slightly and the ECB signalled QE would be reduced. Shorter maturity bond yields fell, and longer maturities rose slightly.
US equities retreated from record highs, the S&P500 down 0.5%. Longer maturity bond yields fell, while shorter maturity bond yields rose. Bank of Canada ended QE and signalled rate hikes earlier than previously. Currencies were mixed.
US equities made fresh record highs amid strong reported company earnings, the S&P500 up 0.3% currently. The US dollar was again mixed, the AUD nudging slightly higher. Longer maturity bond yields fell slightly.
US equities made fresh record highs, the S&P500 up 0.5% currently. Bond yields fell, though, and the US dollar was mixed, leaving the AUD and NZD inside their recent ranges.
US equities stalled as Fed tightening expectations increased, the S&P500 unchanged on the day. The US dollar was supported by higher interest rates, which caused risk-sensitive currencies to underperform.
Sentiment remained upbeat, with US equities rising further, the S&P500 up 0.3% on the day and near the record high. Risk-sensitive currencies continued to outperform, while bond yields fell slightly.
Sentiment was upbeat, with US equities rising further amid continuing strength in company earnings. The S&P500 is up 0.7%, risk-sensitive currencies have outperformed, and bond yields have risen. Brent crude closed above $85 for the first time since October 2018.
US equities remained elevated, taking some comfort from a pullback in commodity prices. The S&P500 is up 0.2%, and risk-sensitive currencies have again outperformed, while bond yields fell slightly after disappointing US industrial production data.
Equity sentiment was again boosted by strong US company earnings, as well strong US retail sales data. The S&P500 closed up 0.8%, bond yields rose, and risk-sensitive currencies outperformed.
Equity sentiment was boosted by a strong start to the US company earnings season, the S&P500 up 1.7%. Bond yields and the US dollar are lower, producer inflation not as strong as expected.
Sentiment improved slightly, lifting the S&P500 0.3% higher. Bond yields are lower, despite US inflation data slightly stronger than expected, as is the US dollar.
Markets remained cautious ahead of the latest US company earnings reports, stagflation concerns at the fore. The S&P500 is down 0.2%, the defensive US dollar is slightly higher, and bond yields are lower.
Markets were thinned by the US holiday. US equities were slightly lower, the S&P500 down 0.3%, amid concerns rising energy prices could affect economic growth. Brent crude oil rose to a three-year high. Currencies were mixed, the AUD performing well.
The closely watched US payrolls report was mixed but unlikely to derail QE tapering. Markets only briefly expressed disappointment, bond yields eventually closing higher. Currencies and equities closed little changed. WTI hit $80 and Brent closed above $82.
US equities rose, comforted by the previous day’s agreement on a debt ceiling extension. The S&P500 is up 1.3%, risk sensitive currencies have outperformed, and bond yields have risen. Brent jumped 1.4% while copper rose 2.5%.
US equities pared early losses, leaving the S&P500 up 0.1%, after indications the debt ceiling may be extended and some upbeat economic data. The US dollar and safe-haven currencies outperformed, while bond yields fell. Crude fell 2.5% while natural gas fell 10%.
US equities rose, the S&P500 up 1.5%, extending the yo-yo pattern of the past few days. Risk-sensitive currencies outperformed safe-havens, and bond yields rose.
US equities fell, as familiar concerns such as stagflation and higher interest rates resurface. The S&P500 is down 1.4% and at a fresh two-month low. The risk-averse mood didn’t extend to currencies and bonds, though, the US dollar underperforming and bonds contained.
US equities rebounded as buyers took advantage of September’s 6% decline to replenish portfolios. The S&P500 closed up 1.2%, and risk-sensitive currencies rose. Bond yields fell, though, perhaps influenced by Thursday’s temporary agreement on the US debt ceiling.
The US dollar rose sharply overnight, reflecting a recent rise in yield spreads as well as cautious risk sentiment. Bond yields recovered for little net change, and the S&P500 is up 0.6%. Metals fell on the China power crunch.
US and European equities fell sharply as bond yields rose further. Fresh concerns included the risk of stagflation and the US debt ceiling. The S&P500 is down 1.5%, and the safe-haven US dollar is higher.
US equities were capped by further gains in bond yields, the S&P500 down 0.1%. Currencies were mixed, the US dollar unchanged.
US equities remained upbeat, despite China’s curbs on cryptocurrencies and recent hawkish shifts by global central banks. The S&P500 closed up 0.2%, and bond yields rose, although so too did the defensive US dollar.
Sentiment was upbeat, despite hawkish tilts by central banks. The S&P500 is up 1.2%, and bond yields and risk-sensitive currencies had solid gains. Norway’s central bank hiked, while the BoE worried about inflation
US equities largely preserved early gains following the Fed’s policy decision, the S&P500 up 1.0%. Short maturity bond yields and the US dollar rose slightly in response to the statement, which indicated rate hikes could start late 2022. Indications of a tapering announcement at the next meeting were as expected.
US equities steadied following the previous day’s sharp fall, the S&P500 up 0.3%, with little fresh news to drive markets. Bond yields were rangebound, while currencies were mixed.
US equities plunged overnight, the S&P500 at one pint down 2.7% to a two-month low. Apart from lingering concerns about pandemic affected growth and Fed tapering, worries about contagion from a large and distressed Chinese property developer intensified. Bond yields also fell, while risk-sensitive currencies consolidated recent falls.
US equity sentiment was weak, the S&P500 closing down 0.9%. Familiar themes were cited: pandemic affected growth, Fed tapering, and tax increases. Risk sensitive currencies followed suit, while bond yields rose.
Bond yields and the US dollar rose following strong US retail sales data. The S&P500 is down 0.2% after paring deeper losses.
US equity buying emerged after a fortnight of declines, the S&P500 up 0.9% on the day. Bond yields and risk-sensitive currencies are slightly higher.
The risk averse mood extended, with US equities falling to one-month lows, the S&P500 down 0.6% on the day. That weighed on risk-sensitive currencies and bond yields, with the latter also affected by an underwhelming US inflation report.
The risk averse mood extended, with US equities slipping for a sixth consecutive day amid little fresh news of note. The S&P500 is down 0.1%, and bond yields are slightly lower, while currencies are little changed.
US equities fell for a fifth consecutive day, amid ongoing concerns about valuations and economic growth. The S&P500 fell 0.8%, and the defensive US dollar rose. Bond yields also rose, helped by PPI data.
US equities fell for a fourth consecutive day, amid ongoing concerns about growth. The S&P500 fell 0.4%, as did US bond yields and the US dollar. The ECB was less hawkish than expected on QE, causing Eurozone bond yields to fall, although the EUR is little changed.
US equities again weakened slightly amid ongoing concerns about slower growth and stimulus withdrawal. The S&P500 fell 0.2%, as did US bond yields, while the US dollar rose.
US equities weakened slightly amid concerns slower growth and less stimulus may lie ahead. The S&P500 fell 0.3%, while US bond yields and the US dollar rose.
Markets were quiet during the US holiday. Equities remained upbeat, the Eurostoxx 50 up 1.1% to a 13-year high, while S&P500 futures rose 0.2% to a record high. The US dollar rose slightly.
The eagerly awaited US jobs report was weaker than expected, but only caused a modest fall in the US dollar. Bond yields actually rose in response, perhaps reflecting inflationary implications. The S&P500 closed unchanged.
The US dollar fell further ahead of key US jobs data and amid elevated risk sentiment. The S&P500 is up 0.3% at a fresh record high. Bond yields are little changed.
The US dollar and bond yields fell after a disappointing US jobs report. Equities remained elevated, the S&P500 up 0.1%.
Equity markets took a breath, the S&P500 down 0.1% from the previous day’s record high. The US dollar is little changed, while bond yields rose following further tapering signals from the ECB.
Sentiment remained elevated in equity markets, the S&P500 up 0.5% to a fresh record high. Bond yields fell slightly further, though, Fed Chair Powell’s weekend caution lingering. Commodity currencies preserved recent gains.
US equity markets rose, the S&P500 up 0.9% to a fresh record high. The US dollar and bond yields fell. Fed Chair Powell’s Jackson Hole speech was not as hawkish as some had expected.
US equity markets fell, the S&P500 down 0.6%. Fed commentary was hawkish, and there was a fatal explosion at Kabul airport. The US dollar rose, while bond yields are little changed.
US equity markets rose for a fifth consecutive day, the S&P500 up 0.3% to a fresh record high. Concerns about Covid and Fed tapering receded further. Commodities and bond yields rose, and risk-sensitive currencies outperformed defensive ones.
US equity markets extended a multiday rally to record highs, the S&P500 up 0.2%. Concerns about Covid and Fed tapering appear to have receded slightly. Commodities rose, risk-sensitive currencies outperformed, and bond yields rose slightly.
US equity markets were helped receding expectations of a Fed tapering signal this week, as well as news of more regulatory approvals for Covid vaccines. The S&P500 rose 0.9%, and the defensive US dollar fell, lifting the AUD and NZD, while bond yields fell slightly.
A slightly more upbeat mood prevailed, the S&P500 up 0.8%, the defensive US dollar lower, and bond yields higher. There was little fresh news for markets.
The risk averse mood in Europe dissipated in the US, the S&P500 recovering to be up 0.2%. Commodities remained on the back foot, though, and the defensive US dollar rose, while bond yields were contained. There was little fresh news for markets, concerns about Covid-related activity slowdowns and Fed tapering remaining at the fore.
A risk averse mood prevailed, the S&P500 down 1.1% and commodities weaker. Bond yields and the US dollar were initially boosted by hawkish comments from a Fed member, only to be reversed following the FOMC minutes which didn’t offer strong clues on tapering timing.
Markets were in a risk averse mood as Covid continued to spread and US retail sales data was weak. The S&P500 is down 0.7% and the defensive US dollar is higher, while bond yields consolidated near recent lows.
Markets were initially in a risk averse mood, following yesterday’s weak Chinese data, a softer US activity survey, and Covid concerns. Later, the S&P500 recovered from a 0.7% loss to a 0.1% gain to a fresh record high. The US dollar recovered slightly, while bond yields consolidated recent declines.
US bond yields and the US dollar fell after a sharp fall in a closely-watched consumer sentiment survey. The dovish implications for the Fed supported US equities, the S&P500 up 0.2% to a fresh record high.
US bond yields and the US dollar fell after data showed US core inflation was not quite as strong as expected. More hawkish Fedspeak had little impact. Commodities and equities had a positive session, the S&P500 up 0.2% to a fresh record high.
US bond yields extended a multi-day rise, helped by the residual effects of recent Fedspeak signalling QE tapering. The S&P500 is up 0.1% to a fresh record high, while commodity currencies outperformed safe-havens.
US bond yields rose further, supported by Fed commentary advocating QE tapering. The US dollar is slightly firmer, while the S&P500 is down 0.1% and commodities are lower on concerns stimulus may be reduced.
US jobs data was stronger than expected, causing US bond yields and the US dollar to rise in response. The S&P500 was volatile but managed to close up 0.2% at a fresh record high.
US equities extended the see-saw pattern of the past two weeks, the S&P500 up 0.6% at a record closing high. Bond yields rose slightly, while risk-sensitive currencies outperformed slightly. The Bank of England maintained policy settings but signalled eventual tightening.
Hawkish comments from Fed Vice-chair Clarida plus strong US services activity data boosted bond yields and the US dollar, reversing earlier weakness which followed disappointing ADP jobs data. US equities are slightly lower.
US equities rose (S&P500 +0.8%) amid a continuing stream of strong company earnings reports, supporting the AUD and NZD. Bond yields remained near multi-month lows, though.
US bond yields fell after a disappointing manufacturing survey added to concerns that Covid variants could slow growth. Equities pared gains to be little changed (S&P500 -0.1%), while currencies were mixed.
A risk-averse session saw the S&P500 down 0.5% on the day, investors concerned about cautious revenue forecasts form large technology companies such as Amazon, Apple and Facebook. Bond yields fell and the defensive US dollar rose.
Sentiment was upbeat on expectations the Fed may be slow to tighten, with disappointing US economic data overnight supporting the case. The S&P500 is up 0.5% to a record high, bond yields and commodities are higher, and the US dollar is lower.
Markets were slightly ruffled by the FOMC, which indicated continuing economic improvement but offered no explicit tapering signal. The S&P500 is up 0.1%, and bond yields and the US dollar are slightly lower.
US equity markets reversed lower, amid concerns of possible contagion from China’s falling stock market. The S&P500 is down 0.5%, and bond yields are lower, while currencies were mixed with risk-sensitive currencies generally underperforming.
US equity markets nudged higher, the S&P500 up 0.1% to a fresh record high, supported by strong corporate earnings. Bond yields rebounded, and the US dollar fell.
US equity markets rose, the S&P500 up 1.0% to a fresh record high, helped by strong corporate earnings (87% of reports by S&P500 companies have beaten estimates). Bond yields and currencies were little changed, though.
Equity markets and commodities rose further, the S&P500 currently up 0.2%. Bond yields are slightly lower, though, following a dovish ECB statement. Currencies were mixed, the AUD and NZD slightly firmer.
The risk-seeking mood continued, helped by corporate earnings reports. The S&P500 is currently up 0.7%, and commodities, bond yields, and risk-sensitive currencies are higher.
The market’s mood flipped from risk aversion to risk seeking, as Covid variant concerns appeared to recede. The S&P500 is currently up 1.7%, and commodities are higher. Risk-sensitive currencies, though, merely halted their recent declines, while bond yields are little changed.
The risk-averse mood of the past few days intensified amid rising concerns about the economic impact of new Covid variants. The S&P500 is currently down 1.9%, and commodities, bond yields and risk-sensitive currencies are commensurately lower.
A risk-averse mood again weighed on major asset classes. Surveyed inflation expectations in the US rose further. The S&P500 closed down 0.8%, and bond yields and risk-sensitive currencies fell slightly.
A slightly risk-averse mood prevailed, without obvious news catalyst. The S&P500 is down 0.4%, and bond yields are slightly lower, while the US dollar and defensive currencies outperformed.
The US dollar and bond yields fell after Fed Chair Powell said conditions for tightening were some way off. The S&P500 is up 0.3%, earlier making a record high.
Markets reacted to a surprisingly strong US inflation report. The S&P500 is down 0.4% on concerns the Fed could tighten earlier than indicated, and bond yields and the US dollar are higher.
Equity markets remained upbeat, anticipating supportive earnings reports. The S&P500 is up 0.3% to a fresh record high, and bond yields are higher, although the US dollar also rose.
Markets flipped back into risk-seeking mode without any obvious catalyst on the day. The S&P500 rose 1.1% to a record high, bond yields rose, and risk-sensitive currencies outperformed.
Equity markets were in defensive mode, as Covid variant spread raised concerns about economic recovery. The S&P500 is currently down 1.0%, bond yields are slightly lower, and defensive currencies outperformed.
Equity and bond market sentiment was helped by benign Fed minutes, the S&P500 currently up 0.4% to a fresh record high, bond yields slightly lower. The US dollar is slightly firmer.
A risk-averse tone prevailed as US markets reopened after Monday’s holiday. The S&P500 is down 0.3%, the US dollar is stronger, and bond yields are lower.
Markets were fairly stable during the US holiday. The Eurostoxx 50 closed up 0.4%, while the US dollar and bond yields were steady.
US equities jumped higher, the S&P500 up 0.8% to a fresh record high. Bond yields fell, as did the US dollar. The eagerly awaited US jobs report, while superficially strong, was mixed in the detail, tempering market bets on Fed tapering.
US equities rose further, the S&P500 up 0.5% to a fresh record high. Bond yields were little changed, though, and currencies fell vs the US dollar. Market are anticipating a strong US jobs report tonight.
Markets were mixed at quarter-end. The US dollar extended recent gains and bond yields fell, indicating a slightly risk-averse tone in these asset classes. Commodities and equities, though, remained elevated, the S&P500 up 0.2% to a record high.
Risk-sensitive currencies remained on the back foot, while bond yields and equities were little changed (although the S&P500 did initially make a record high). Month-end rebalancing and the spread of new Covid variants were some of the factors for markets to digest.
Sentiment in equity markets remained elevated, the S&P500 rising 0.2% to a fresh record high. However, bond yields fell, as did risk-sensitive currencies. Month-end rebalancing and US airstrikes in Syria and Iraq may have been factors.
Sentiment remained upbeat, the S&P500 rising 0.3% to a fresh record high. Bond yields also rose, while currencies closed little changed. US economic data was mixed.
Sentiment remained upbeat as a US infrastructure spending plan was agreed, the S&P500 rising 0.6% to a record high. The AUD and NZD are slightly higher, while bond yields are little changed.
The tone was modestly upbeat but moves were minor. The S&P500 is unchanged near the all-time high, while bond yields are slightly higher. Currencies were mixed, with risk-sensitive currencies slightly outperforming.
Markets remained upbeat overnight, amid mostly dovish Fedspeak. The S&P500 is up 0.5% and near the all-time high, while the defensive US dollar weakened for a second consecutive day. Bond yields fell slightly.
Markets were more upbeat overnight, after a three-day long risk-averse reaction to last week’s hawkish Fed shift. The S&P500 is up 1.4%, bond yields are higher, and the US dollar is lower.
Markets continued to price in Fed tightening by pushing short-maturity interest rates higher and long-maturities lower. Equities fell (S&P500 -1.3%) and the US dollar rose, with the AUD and NZD performing poorly.
The US dollar extended its positive reaction to the previous day’s hawkish Fed shift. Longer maturity bond yields, though, completely retraced. Equities are little changed.
The Federal Reserve’s FOMC meeting statement surprised markets by showing a majority of members expected rate hikes by 2023. US equities fell (S&P500 currently -0.5%), while bond yields and the US dollar jumped, causing a sharp fall in the AUD and NZD.
A mixed bag of US economic data kept equities and currencies in a holding pattern, awaiting tomorrow’s Fed announcement. Bond yields rose slightly following the strong US PPI inflation result.
US equities stalled near record highs and bond yields rose ahead of Wednesday’s Fed policy decision. Currencies were contained.
US equities remained elevated, the S&P500 up 0.2% to a record closing high. However, risk sensitive currencies fell, while bond yields consolidated near recent lows. There was no major market-moving news.
US equities rose to fresh record highs following inflation data which was consistent with the Fed’s “transitory” judgement. The S&P500 is up 0.5%, bond yields are lower, and risk-sensitive currencies are higher. The ECB maintained its policy settings.
Equities remained stalled near all-time highs, looking ahead to key events tonight - the US inflation report and the ECB meeting. The S&P500 is unchanged, while bond yields and currencies experienced some intraday volatility, the AUD and NZD ending slightly lower.
Markets remained in consolidation mode ahead of Thursday’s US inflation report. The S&P500 is up 0.1%, near the all-time high, although bond yields are slightly lower, and the defensive US dollar is slightly higher.
Markets were mostly in consolidation mode in the wake of Friday’s US jobs data disappointment. The S&P500 is down 0.2% and bond yields are slightly higher, although the USD did slightly extend the recent decline.
Markets were soothed by disappointing US jobs data which dampened concerns the Fed may taper QE sooner than indicated. The S&P500 closed up 0.9% - near the record high, while bond yields and the USD fell sharply in response.
Markets were rattled by some strong US economic data, raising concerns the Fed may eventually tighten sooner than indicated. The S&P500 is down 0.4%, and bond yields and the USD are higher.
US equities pared early gains following some mixed US economic data, the S&P500 up 0.1%. Bond yields also retraced, while currencies were mixed.
US equities remained elevated, helped by a supportive Biden budget as well as solid economic data. The S&P500 closed up 0.1%, although risk-sensitive currencies underperformed, and bond yields fell slightly amid month-end rebalancing.
Bond yields rose amid a solid batch of US economic updates and in anticipation of a large budget announcement. The S&P500 is up 0.2%, while most currencies were contained.
The US dollar rose sharply overnight, despite the absence of market-moving news. US equities and bond yields are little changed, though.
US equities were little changed overnight, Fed officials continuing to emphasize that rising inflation will be temporary. Bond yields fell, and the US dollar is lower.
US equities started the week in an upbeat mood, the S&P500 currently up 1.0%, led by technology stocks. The defensive US dollar fell, while bond yields remained subdued.
US equities shed early gains to close little changed, the S&P500 -0.1%. The US dollar bounced off a multi-month low, while bond yields were fairly stable.
A more upbeat session saw US and European equities recover, the S&P500 currently up 1.3%, and the defensive US dollar fall. However, commodities and bond yields fell.
The recent equities decline accelerated - the S&P500 down 0.9% - and commodities fell. The US dollar rose against all the majors, bond yields rose. Markets may have been ruffled initially by the recent plunge in cryptocurrencies, and then by the FOMC minutes which indicated that some members expected tapering discussions at upcoming meetings.
Equities sagged slightly further, the S&P500 down 0.5%. The US dollar fell against all the majors, while bond yields were rangebound. There was little news to drive markets.
There was no common theme in markets overnight, with equities slightly lower (S&P500 -0.3%), bond yields and commodities slightly higher, and the US dollar slightly lower.
Sentiment was mostly upbeat, as inflations concerns appear to have been fully priced. US equities rose (the S&P500 up 1.5%) and the US dollar fell. Bond yields also fell though, partly due to some US economic data disappointments.
US equities rebounded after a three-day decline, the S&P500 up 1.4%. Bond yields fell slightly, and the AUD and NZD stabilised. There were no major news catalysts.
Surprisingly strong US inflation data boosted bond yields and the US dollar, and sent equities tumbling. The S&P500 is currently down 2.1%, back at early April levels.
Sentiment cooled further overnight, inflationary concerns persisting. The S&P500 is currently down 0.9%, the US dollar is little changed, and bond yields are slightly higher.
Sentiment cooled overnight amid concerns that the recent surge in commodity prices may add to inflationary pressures. The S&P500 is currently down 0.8%, the US dollar is little changed, and bond yields are slightly higher.
Sentiment was boosted by a very disappointing US jobs report, which caused markets to extend their expectations of monetary and fiscal accommodation. The S&P500 rose 0.7% to a record high), and the US dollar fell sharply against all the majors. Term bond yields fell only briefly, supported by rising inflation expectations.
Sentiment remained upbeat ahead of tonight’s closely-watched US jobs report. The S&P500 is currently up 0.8% (the DJIA made a record high), the defensive US dollar is lower, and most commodities are higher, while bond yields are slightly lower.
Sentiment improved amid more upbeat US economic data. The S&P500 is currently up 0.1% (having pared gains after news of a removal of patent protection for Covid vaccines), and the AUD and NZD are stronger, while bond yields are slightly lower after Fed officials downplayed inflation risks.
Sentiment soured, led by technology stocks, without any obvious news catalysts. US Treasury Secretary Yellen added to the mood by saying rates may need to rise to prevent overheating. The S&P500 is currently down 1.0%, the US dollar is stronger, and bond yields are slightly lower.
Sentiment was helped by some dovish Fedspeak from Powell and Williams. The S&P500 is currently up 0.5%, the US dollar is weaker, and commodities are higher; while bond yields are slightly lower, disappointing US manufacturing data weighing.
Sentiment soured as strong US economic data hinted at inflationary pressures and a Fed hawk spoke. The S&P500 closed down 0.8%, the US dollar rose, and bond yields fell slightly.
Sentiment remained elevated amid prospects for more US fiscal stimulus and a solid US GDP result. The S&P500 is currently up 0.7% and at a fresh record high. Bond yields are slightly higher, while currencies were mixed.
Fed Chair Powell’s press conference comments lacked the hawkish tones that some in the market had hoped for. In response, the US dollar and bond yields fell, while equities and risk-sensitive currencies rose. The S&P500 is currently up 0.2% and at a fresh record high.
US equities remained elevated and stalled ahead of tomorrow’s Fed statement. The S&P500 is currently up 0.1% and at a fresh record closing high, bond yields and commodities are higher, while the AUD and NZD currencies are slightly lower.
US equities remained elevated, on track for a fresh closing record high, helped by expectations of an accommodative Fed statement this week. The S&P500 is currently up 0.3%, and risk-sensitive currencies are higher. Bond yields were little change though.
US equities fell in response to reports that Pres. Biden will propose an increase in capital gains tax for the wealthy, the S&P500 currently down 0.9%. Bond yields also fell in response, while risk-sensitive currencies extended declines.
US and European equities rebounded, the S&P500 currently up 0.9%. Risk sensitive currencies rose slightly, while bond yields were fairly stable. There was little market-moving news. Canada’s central bank reduced its QE pace.
US and European equities fell for a second consecutive day, the S&P500 down 0.7%. Bond yields also fell, while the defensive US dollar rose. The WHO warned that the pace of pandemic infections is rising in some countries at an alarming rate.
Having made fresh record highs on Friday, US equities fell overnight amid proposed legislation which would crimp tech companies. The S&P500 is currently down 0.50%. That sentiment didn’t affect other asset classes much, though, with the defensive US dollar falling and bond yields rising slightly.
US equities again made fresh record highs, the S&P500 closing up 0.4%. Currencies were mixed, the AUD and NZD underperforming. Bond yields were little changed.
US equities made fresh record highs following some strong economic data, the S&P500 currently up 1.0%. Risk-sensitive currencies rose. Bond yields surprisingly fell, perhaps affected by geopolitical tensions involving Russia.
US equities initially made record highs but then slipped, the S&P500 currently down 0.3%. The US dollar fell further, while bond yields rose slightly. There were no obvious news catalysts.
US equities extended their run, the S&P500 currently up 0.3% and at a fresh record high. The US dollar fell after CPI inflation data was only slightly stronger than analysts had forecast. US bond yields fell after the data, and again after a solid bond auction.
US equities stalled near record highs, the S&P500 currently down 0.1%, amid little news flow. Currencies were mixed and contained, while US bond yields rose slightly following issuance auctions.
US equities made fresh record highs as Fed officials continued to signal no change in stance is likely for some time. The S&P500 closed up 0.8%, and the US dollar and bond yields rose slightly.
US equities rose to fresh record highs after Fed Chair Powell reiterated that its accommodative stance would remain in place for some time. The S&P500 is up 0.5%, the US dollar is lower, and bond yields are lower
US equities remained stalled at record highs in the absence of fresh catalysts. Risk-sensitive currencies fell, while US bond yields ranged sideways. The FOMC minutes contained no surprises.
US equities stalled at record highs in the absence of fresh catalysts. The defensive US dollar fell further, lifting the AUD and NZD. US bond yields fell, appetite for the reflation trade waning recently.
Sentiment remained upbeat as US economic data beat expectations, compounding the impact of Friday’s stellar jobs data. The S&P500 is up 1.4% on the day and at a fresh record high. The defensive US dollar fell, while bond yields preserved Friday’s gains.
US equity markets were upbeat as President Biden’s new stimulus plan was unveiled, the S&P500 currently up 0.8% on the day and at a fresh record high. The defensive US dollar fell slightly, while bond yields were little changed.
Sentiment was slightly weaker at quarter-end, the S&P500 currently down 0.3% on the day. The defensive US dollar rose to a five-month high, and bond yields fell slightly.
Equity markets were little changed near record highs, amid uncertainty about potential contagion from the failure of a fund manager. The S&P500 is currently unchanged on the day. US bond yields rose, and risk-sensitive currencies eked modest gains.
Equity markets were upbeat amid a faster vaccine rollout in the US, banks allowed to raise dividends, a stronger consumer sentiment survey, and quarter-end rebalancing. The S&P500 rose 1.7% to a record closing high. Bond yields and risk-sensitive currencies also rose.
There was only modest movement among the major asset classes. The S&P500 is currently up 0.3%, and bond yields are little changed, although the US dollar did rise further to a five-month high.
A risk-averse mood prevailed, partly caused by fresh lockdowns in Europe during the past week. The S&P500 is down 0.9%, bond yields are slightly lower, oil fell to a one-month low, and risk-sensitive currencies fell.
US equities rose as bond yields fell, the S&P500 currently up 1.0%. The rise in equities seemed to help risk-sensitive currencies.
US yields rose after the Fed announced an end to favourable treatment for bank holders of treasuries. That weighed on US equities, the S&P500 closing down 0.1%. Risk-sensitive currencies are slightly lower.
US yields rose in the wake of yesterday’s FOMC meeting, as markets bet on inflation rising. That unnerved equities, the S&P500 currently down 1.0%. The risk averse mood and the higher yields were both US dollar supportive.
Sentiment reversed after the Federal Reserve’s decision this morning did not contain the hawkish signals markets had hoped for. Equities flipped from moderate losses to moderate gains (S&P500 currently + 0.3%), and short-end bond yields and the US dollar fell.
Markets were quiet ahead of tomorrow’s FOMC decision. The S&P500 is currently down 0.1%, and bond yields and currencies are little changed.
There was only minor movements in the main asset classes. US equities remained elevated, the S&P500 currently up 0.1%. Bond yields fell slightly, and the US dollar rose slightly.
US equities rose slightly further, the S&P500 closing up 0.1% and at a record (closing) high. Tech stocks underperformed, though, the NASDAQ 100 down 0.9%, probably affected by the continuing rise in bond yields. The USD outperformed all the majors except the CAD. US economic data, while second-tier, was stronger than expected.
US equities continued to rise, the S&P500 currently up 1.4% and at a record high. Bond yields probed lower, and the defensive US dollar fell. The ECB signalled a near-term increase in bond purchases.
US equities rose further, the S&P500 currently up 0.7%, and bond yields retreated further. US inflation data was slightly weaker than expected, supporting the Fed’s accommodative stance. The USD was mixed, with risk-sensitive currencies firming slightly.
US equities rose for a third consecutive day, the S&P500 currently up 1.9%. The defensive US dollar fell against all the majors, reversing from a four-month high. Despite the upbeat tone, bond yields fell. There was little fresh news of note for markets.
US equities rose, the S&P500 currently up 0.3%. The US dollar rose further, to a fresh three-month high, and bond yields remained around 12-month highs. There was little fresh news of note for markets.
US equities rebounded from losses to gains, the S&P500 closing up 2.0%. The US dollar rose to a three-month high after a strong jobs report, while bond yields spiked only briefly.
US equities fell, the S&P500 down 2.0% to a one-month low, after Fed Chair Powell disappointed a market which was seeking action to tackle rising bond yields. Bond yields and the US dollar rose.
US equities fell (S&P500 -0.8%) as the ascent in bond yields resumed, allowing the defensive US dollar to firm slightly.
Markets appeared to be in stall mode, with US equity indices and bond yields little changed. The US dollar, though, did weaken.
Equity markets bounced back, the S&P500 currently up 2.2%. Bond yields rose slightly, while risk sensitive currencies made only modest gains. There was little news of note for markets. The passing of month-end rebalancing may have been a factor.
Equity markets weakened further, the S&P500 closing down 0.5%. The risk averse mood also helped push bond yields and commodities lower, and the defensive US dollar rose.
A meltdown in global bond markets spilled over to equity markets which were already unnerved by the relentless rise in long-term interest rates. The S&P500 is currently down 2.2%, following a 20bp jump in US 10yr bond yields. The defensive US dollar benefitted from the turmoil.
Markets were in a positive mood, helped by Fed Chair Powell’s repeated message that the Fed will remain accommodative for a long time. The S&P500 is up 1.1% currently. Bond yields and commodity currencies are also higher.
The recent decline in equities accelerated, the S&P500 at one point down 1.8% to a one-month low. That reaction was pared after Fed Chair Powell testified to Congress that it will maintain its accommodative stance for some time, the index currently down 0.3%. Bond yields were rangebound, while currencies were mixed.
US equities faded near the close, leaving the S&P500 down 0.2% on the day. Rising term interest rates remained a concern for that asset class. Major bond yields rose to 12-month highs, helped by strong manufacturing PMI updates in Europe and the UK, and the AUD and NZD outperformed.
US equities fell for a third consecutive day, the S&P500 down 0.8%. However, the defensive US dollar also fell, while bond yields rose slightly. There was little market-moving news. Concerns are emerging about the impact of rising term interest rates on equities prices.
Strong US economic data and slippage in equities (S&P500 down 0.4%) lifted the US dollar. Bond yields fell slightly.
Sentiment remained upbeat as the US returned from holiday, the S&P500 nudging 0.1% higher to a fresh record high. Bond yields also rose, but the defensive US dollar rebounded.
Sentiment remained upbeat as vaccine deployment and US fiscal stimulus were expected to help economic normalisation. The US was on holiday, but the Eurostoxx50 rose 1.0% to a one-year high. Bond yields and commodities rose, while the defensive US dollar fell slightly.
Equity markets remained upbeat, the S&P500 up 0.5% to a fresh record high. Bond yields and commodity prices also rose, although the usually defensive US dollar held its ground. There was little fresh news for markets.
Equities continued to consolidate near all-time highs, the S&P500 currently down 0.3% on the day. Bond yields rose slightly, though, and the AUD and NZD made modest gains.
Sentiment remained cautious, with disappointing US inflation data contributing to the mood. The S&P500 initially made a fresh record high but is currently down 0.2% on the day. Bond yields fell, while currencies were mixed
A more cautious tone crept into markets, with equities stalling at elevated levels. The S&P500 is unchanged on the day, although it did make a fresh record high. The defensive US dollar fell, but AUD and NZD struggled for further gains. Bond yields fell slightly.
Sentiment remained upbeat, the S&P500 currently up 0.4% and at a record high. The AUD and NZD rose, as did bond yields initially. Expectations of further US fiscal stimulus remained high.
The monthly US jobs report was weaker than expected, boosting US equities on expectations that more government stimulus will be required. The S&P500 rose 0.4% to a record high and the defensive US dollar fell.
US equities rose to near record highs (S&P500 +0.9%), and bond yields rose further, although risk-sensitive currencies again fell as the US dollar extended a month-old recovery. US economic data was firmer than expected.
US equities rose slightly further (S&P500 +0.5%), as did bond yields, amid some stronger economic data. Currencies were again mixed.
US equities gained further as the retail-driven short squeeze lost momentum, the S&P500 up 1.8%. Bond yields also rose, but risk-sensitive currencies mostly underperformed the US dollar.
US equities rebounded, the battle between retail traders and hedge funds seen as a short-term phenomenon. The S&P500 is currently up 1.6%, but risk-sensitive currencies and bond yields have not followed suit.
US equity markets rebounded after brokers restricted activity in stocks which had been subject to short squeezes recently. The S&P500 is currently up 2.0%, with bond yields and risk-sensitive currencies also higher.
Sentiment reversed overnight, the S&P500 currently down 1.9%. Some attributed the decline to asset liquidation by hedge funds exposed to a recent short-squeeze. The defensive US dollar rose, and bond yields fell. The Fed remained on hold, but the closely-watched press conference is currently in progress.
There was a slightly more upbeat tone to some markets. The S&P500 made an intraday record high, currently up 0.1% on the day. The defensive US dollar fell. News of note included the IMF upgrading its global growth forecasts, US vaccine delivery being accelerated, and the ECB’s investigation of EUR/USD appreciation.
US equities were briefly ruffled but are little changed, the S&P500 up 0.1% on the day. The defensive US dollar is slightly higher, and bond yields are lower. Noteworthy for markets was news that US fiscal stimulus may be delayed.
Sentiment cooled slightly amid rising Covid infections and obstacles to US fiscal stimulus. The S&P500 fell 0.3%, the defensive US dollar rose slightly and bond yields fell slightly.
Bond yields rose slightly after the on-hold ECB decision and a fall in US jobless claims. Equities are little changed, although the S&P500 did make an intraday record high. The USD weakened slightly.
Markets remained upbeat, pushing the S&P500 1.3% higher to a record high. AUD and NZD also rose, while bond yields were little changed. Joe Biden was inaugurated as US President, and Canada’s central bank left its policy rate unchanged.
An upbeat session saw US equities rise - the S&P500 up 0.9% - and the defensive US dollar fall slightly. Bond yields, though, fell slightly. Janet Yellen’s Treasury Secretary confirmation hearing attracted market attention.
The US holiday thinned overnight trading and left US equity futures and European equities little changed. The US dollar probed slightly higher, the AUD and NZD slightly lower.
Sentiment soured ahead of the long US weekend, the S&P500 closing down 0.7%. The defensive US dollar rose and risk-sensitive currencies underperformed, while bond yields fell slightly. US economic data mostly disappointed.
The S&P500 is up 0.5% to a fresh record high, amid developments in US fiscal stimulus talks. Bond yields are slightly higher, and the defensive US dollar has fallen to a three-year low. (This is the final FinanceAM podcast in 2020. Thank you all for listening. We'll be back in January.)
Sentiment was mixed, leaving the S&P500 little changed on the day. Currencies also recorded little net change, while bond yields probed the upside. US stimulus and Brexit talks continued, US retail sales data disappointed, and the Fed remained on hold.
Markets were in a positive mood, helped by vaccine developments and signs of progress in the US fiscal stimulus talks. The S&P500 is currently up 1.3%, the AUD and NZD are higher, and bond yields are higher.
Sentiment was initially upbeat, but further European activity restrictions and stalled Brexit talks dampened the mood. The S&P500 is currently up 0.1%, the AUD and NZD are little changed, and US bond yields are slightly lower.
US equities pared losses after a stop-gap US spending bill was agreed, the S&P500 closing down 0.1%. Bond yields fell and the defensive US dollar rose slightly.
US equities were fairly stable amid ongoing stimulus talks, the S&P500 unchanged. Bond yields were also stable, while risk-sensitive currencies rose. The ECB delivered further easing, as expected, while Brexit-related EU-UK trade talks faltered.
US equities fell amid mixed messages from the US fiscal stimulus talks. The S&P500 is currently down 0.9%, and risk-sensitive currencies are slightly lower, while bond yields were rangebound.
US equities made fresh record highs – the S&P500 is currently up 0.3% - despite Covid cases in the US continuing to rise. US fiscal stimulus talks were seen to be progressing favourably. The risk-seeking mood didn’t extend to other asset classes, with bond yields slightly lower and risk-sensitive currencies little changed.
US equities pulled back from record highs, the S&P500 currently down 0.3%. Bond yields fell and the defensive US dollar rose slightly. Markets were focussed on developments in US fiscal and Brexit talks, with neither yet resolved.
Markets appeared to overlook a disappointing US jobs reports, assuming it will hasten agreement on a government relief package. The S&P500 rose 0.9% to a fresh record high, with bond yields also rising, although most risk-sensitive weakened slightly.
US equities nudged higher, the S&P500 up 0.2% to a fresh record high. The defensive US dollar fell, although so too did bond yields, There was some progress in US fiscal relief talks.
US equities stalled at record highs, the S&P500 unchanged on the day. The defensive US dollar fell slightly, while bond yields rose further as markets priced in the prospect of reflating economies.
Risk-seeking resumed, the S&P500 up 1.5% to a fresh record high. The defensive US dollar fell, and bond yields rose. Noteworthy supportive events included indications that negotiations for US fiscal support could resume soon, and progress in UK-EU Brexit talks.
US equity markets rose further, the S&P500 closing up 0.2% to a fresh record closing high. The defensive US dollar fell, but so too did bond yields, the latter suggesting some caution as Covid cases and shutdowns persist.
US equity markets rose after official acknowledgement that Joe Biden won the US presidential election. The S&P500 is up 1.6% and is poised to make a record closing high. The defensive US dollar fell and risk-sensitive currencies outperformed, while bond yields rose.
US equity markets recorded modest gains, the S&P500 up 0.4%, helped by positive vaccine news. Currencies were notably buffeted by stronger US PMI data which helped the USD bounce off a three-month low. US bond yields rose slightly.
Risk sentiment remained slightly defensive, with optimism on vaccine distribution balanced by caution amid activity restrictions. The S&P500 is down 0.2%, the defensive US dollar is slightly firmer, and bond yields are slightly lower.
Equity markets remained elevated but stalled, positive vaccine news offset by restrictions on activity. The S&P500 is unchanged, although risk sensitive currencies and bond yields recorded gains.
The November rally in equities stalled, having digested the previous day’s positive vaccine news which took the S&P500 to a fresh record closing high. The index is currently down 0.2%, and bond yields and risk sensitive currencies are slightly lower.
Sentiment was boosted by more positive vaccine news, helping the S&P500 rise 0.9% to near a record high. Bond yields rose slightly, and the defensive US dollar fell slightly.
Sentiment was upbeat on Friday, despite rising Covid cases in the US and Europe and associated restrictions. The S&P500 rose 1.4% to a fresh record high close, bond yields rose slightly, and the defensive US dollar fell slightly.
Sentiment sagged overnight, amid rising Covid cases, disappointing US inflation data, warnings from Fed Chair Powell, and further setbacks in US stimulus talks. The S&P500 is down 1.0%, and bond yields and risk sensitive currencies are lower.
Equity markets in Europe and the US remained upbeat, the S&P500 currently up 0.9%. However, the defensive US dollar also rose, while US bond markets were closed for national holiday. Rising Covid cases in the US and Europe attracted some attention.
Markets consolidated, following the previous day’s surge in risk appetite. The S&P500 is currently down 0.2%, with bond yields and currencies little changed. While yesterday’s vaccine news was promising, the ensuing commentary has highlighted manufacturing and distribution challenges.
Sentiment surged on some positive Covid vaccine news. All major asset classes responded, the Eurostoxx50 up 6.4% and the S&P500 up 3.2%. Bond yields and commodities also surged, while risk-sensitive currencies had more modest gains due to USD strength.
US equities stalled on Friday, the prospect of a Democrat Presidency but divided House seen as limiting fiscal stimulus. The monthly US jobs data beat expectations. The S&P500 closed unchanged, bond yields rose, and the US dollar fell.
US equities rose further amid continuing vote counting in the US election, the S&P500 up 2.2% and within 2% of an all-time high. Bond yields reversed higher, and the US dollar fell.
Market reactions to US election developments were mixed, with US equities rising overnight (S&P500 +3.0%) as Biden’s performance improved, but bond yields falling on the receding chances of large-scale fiscal stimulus. Risk sensitive currencies partially recovered.
Markets were quite upbeat overnight, perhaps in anticipation of a strong Democrat showing in the US election which is currently underway. The S&P500 is up 2.0%, bond yields are higher, and the defensive USD is lower.
US equity sentiment improved, the S&P500 currently up 0.5%. Currencies were mixed, though, and US bond yields fell slightly. The looming US election remained the focal point.
Liquidation of both US equities (S&P500 -1.2%) and bonds was the main theme for a second consecutive day. Key concerns were the resurgent pandemic and looming US election. Currencies were relatively contained.
US equities partly retraced the previous day’s large decline, amid encouraging US economic data. The S&P500 is up 1.6%, and bond yields are higher. The normally defensive US dollar is also higher following the ECB’s dovish signals.
US and European equities plunged as Covid cases in both areas increased and further restrictions in Europe were announced. US election uncertainty and fiscal stalemate remained in the mix. The S&P500 is down 3.0% to a one-month low, and the defensive US dollar is higher, while bond yields are little changed.
Markets remained in a cautious mood, with mixed performances among asset classes. US equities are slightly lower, following a loss session in Europe, and bond yields are lower, while risk sensitive currencies are slightly higher.
Markets were in a risk-averse mood amid rising Covid cases and a fiscal talk stalemate in the US. The S&P500 is currently down 2.3%, bond yields are lower, and the defensive US dollar is higher.
Markets sentiment was mixed on Friday, with US stimulus talks continuing but not agreeing. The S&P500 closed up 0.3%, risk sensitive currencies were slightly higher, and bond yields were slightly lower.
Markets appeared to be in a slightly positive mood. While there was no progress on US fiscal stimulus, the US data was encouraging. The S&P500 is currently up 0.5%, and bond yields and risk sensitive currencies are higher.
Sentiment was moderately upbeat amid encouraging hints from talks on Brexit and US stimulus. Equities (and bonds) were restrained, the S&P500 up just 0.4%, but risk-sensitive currencies performed well, particularly the AUD, NZD and GBP.
US equity markets rose on optimism a US fiscal stimulus deal could be agreed soon, following signals from the key participants. The S&P500 is up 1.1%, and bond yields are higher, and the defensive USD is lower.
US equity markets fell amid a lack of progress on US fiscal stimulus negotiations. The S&P500 is down 1.4%, with bond yields and risky currencies reversing early gains.
US equity markets sagged late in the session, the S&P500 closing unchanged on the day. Bond yields rose slightly, while the US dollar fell slightly. US retails sales data was strong, but industrial production disappointed.
US equity markets posted losses for the third consecutive day, amid rising European Covid cases, US fiscal stimulus stalemate, and a rise in jobless claims data. The S&P500 is down 0.2%, and the defensive US dollar is higher.
US equity markets remained on the back foot, as the likelihood of fiscal stimulus agreement before the US election receded further. The S&P500 is down 0.4%, and bond yields are slightly lower, although the defensive US dollar is slightly lower.
A risk-averse mood prevailed, amid continuing stalemate in US fiscal package negotiations, vaccine trial setbacks, and rising Covid cases in Europe. The S&P500 is down 0.4%, bond yields are lower, and the defensive US dollar is higher.
US equities rose further, with the S&P500 up 1.9%, despite the US fiscal package stalemate. Other major asset classes did not follow suit, though, the US dollar and bond yields little changed.
Sentiment rose ahead of the US long weekend, helped by Pres. Trump’s support for a large scale Covid support package. The S&P500 closed up 0.9% to a one-month high, the US dollar fell, and bond yields rose slightly.
US equity markets rose slightly further, despite little progress in fiscal stimulus negotiations and mixed economic data. The S&P500 is currently up 0.1%, while the US dollar and bond yields are slightly lower, and oil and copper had sharp falls.
US equity markets rose, helped by strong economic data as well as continuing hopes for a fiscal stimulus package. The S&P500 is currently up 1.1%, and US bond yields and risky currencies are higher.
US and European equity markets fell slightly, the S&P500 currently down 0.2%. US bond yields also fell slightly, but so too did the defensive US dollar.
US and European equity markets rose, the S&P500 currently up 1.8%. Markets remain optimistic a US fiscal stimulus package will eventually be agreed. The defensive US dollar fell, while US bond yields were fairly steady.
US equity markets rose, led by tech stocks, the S&P500 up 1.6%. However, bond yields fell slightly and the defensive US dollar rose. There was little fresh news of note.
The recent slide in equity markets stalled as hopes for a US fiscal stimulus package resurfaced. The S&P500 is up 0.3%, and bond yields and the US dollar are little changed. The Swiss and Norwegian central banks remained on hold.
Risk sentiment in equity markets weakened further, as company growth outlooks were questioned amid the economic uncertainty described by Fed speakers overnight. The S&P500 closed down 2.4% to a two-month low, risky currencies also fell, while bond yields seemed resilient.
Risk sentiment in equity markets appeared to stabilise, with the S&P500 currently up 1.0%, but the defensive US dollar continued its multi-week rebound. Bond yields were stable.
US equity markets fell, the S&P500 down 1.8% to a two-month low. Other asset classes followed suit, with commodity prices and bond yields lower and the defensive US dollar higher. Among market concerns were Covid’s resurgence in Europe, the US election, and the lack of a US stimulus plan.
US equity markets fell, the S&P500 down 1.1% to a six-week low. Some attributed the fall to quarterly expiration of equity derivative contracts. The AUD and NZD appeared to follow equities, but bond yields rose.
Equity markets decoupled from other asset classes, the S&P500 down 0.8%. In contrast, bond yields and risky currencies rebounded. The BoE kept policy settings unchanged, but did say it was studying negative rates.
The US central bank upgraded its economic forecasts but indicated rates would remain near zero for a few years, all widely expected. The S&P500 is down 0.5%, while US bond yields and the US dollar rose slightly in response, as they expected an even more dovish outcome from the Fed.
Sentiment appeared to be moderately upbeat, supported by optimism on vaccines and economic recovery. The S&P500 is up 0.4%, and bond yields are slightly higher, while currencies were mixed.
US equities rose amid news on vaccine trials and the TikTok deal. The S&P500 is up 1.2%, and the USD is lower, while bond yields are little changed.
US tech stock remained under pressure, the NASDAQ down 0.6% to a one-month low, and the broader S&P500 unchanged. Some of that sentiment rippled to bond yields, while currencies were little changed.
Equity markets flipped back to a risk averse mood, the S&P500 down 1.5%. The defensive US dollar rose, and bond yields and commodities fell. Ongoing negative factors included lofty valuations, Covid uncertainty, the upcoming US election, Brexit, and US-China relations.
Equity markets rebounded overnight, as bargain hunters bought cheapened tech stocks, the S&P500 currently up 2.4%. The defensive US dollar is lower, and bond yields are higher.
Markets were in a risk averse mood overnight, the S&P500 falling 2.3% to a one-month low. The defensive US dollar rose, and bond yields fell. There were no obvious news catalysts for the moves.
Markets were mostly contained during the US holiday, apart from the GBP which fell amid news that the UK government is intending to change the Brexit withdrawal agreement.
Sentiment was mixed, with US equities falling (S&P500 -0.8%) but US bond yields rising. The AUD and NZD closed little changed. US jobs data was better than expected.
US equity indices reversed sharply, the S&P500 falling 4.0%, amid stretched valuations and technicals. That risk-averse mood spilled over to the AUD and NZD, and bond yields fell.
US equity indices accelerated to fresh record highs, the S&P500 currently up 1.2%. The US dollar rose, while bond yields fell. The main catalyst appears to be expectations that central bank stimulus will persist for a long time. Comments from Fed and BoE members overnight supported that belief.
US equity indices made fresh record highs, led by tech stocks. The S&P500 is up 0.5%, the NASDAQ +1.3%. The US dollar rose, partly due to solid US manufacturing data contrasting with disappointing Eurozone inflation data, while bond yields fell.
The S&P500 nudged 0.1% to a fresh record high, the slower rise partly attributed to news that China may try to block the sale of TikTok in the US. The US dollar and bond yields fell slightly.
Sentiment remained upbeat, the S&P500 rising 0.7% to a fresh record high. The US dollar fell, the NZD and AUD outperforming, and bond yields fell. Markets appeared to remain affected by the Fed’s new and easier monetary policy regime.
Sentiment remained upbeat, the S&P500 rising 0.4% to a fresh record high. The US dollar saw little net change, while the NZD and AUD again performed well. Bond yields rose and the yield curve steepened. The main catalyst was the announcement by the US Federal Reserve that it would adopt average inflation targeting, implying policy would remain loose for a long time.
Sentiment remained upbeat, the S&P500 accelerating 1.0% higher to a fresh record high. The US dollar saw little net change, although the NZD and AUD performed well, while bond yields were mixed.
Sentiment remained upbeat, the S&P500 up 0.3% to a fresh record high. Bond yields rose slightly, while the USD fell slightly. Vaccine optimism and some strong US economic data were contributing factors.
US equity sentiment remained buoyant, supported by vaccine developments, as well as expectations Fed Chair Powell’s speech may signal further easing. The S&P500 is up 0.9% to a fresh record high, while the US dollar and bond yields are slightly higher.
US equity sentiment was supported by US economic data and slowing US Covid cases. The S&P500 rose 0.3% to a fresh record high, and the US dollar rose, while US bond yields fell slightly.
US equities were initially rattled by disappointing economic data, but recovered to push the S&P500 up 0.2% and the NASDAQ to a fresh record high. Bond yields fell slightly, while currencies were mixed.
The US dollar and bond yields rose before and after the minutes of the US central bank’s July meeting, the signals less dovish than expected. US equities earlier nudged to fresh record highs but the S&P500 is now down 0.4%.
Sentiment was upbeat, the S&P500 currently up 0.3% to a record high. The defensive USD fell sharply to a two-year low, while bond yields fell slightly. US homebuilding data was strong.
Markets were again contained amid little noteworthy news flow. The S&P500 is up 0.3%, while the USD and bond yields are again slightly lower.
Markets were fairly stable amid little noteworthy new flow and a mixed bag of US economic data. The S&P500 closed unchanged, while the USD and bond yields are slightly lower.
The multi-month rally in equity markets stalled as the stalemate on US fiscal stimulus continued. The S&P500 is currently down 0.2%, the AUD and NZD are lower, and bond yields are higher.
The multi-month rally equity markets resumed overnight, the S&P500 up 1.4% and near its record high. The US dollar fell slightly and bond yields rose slightly. There was little fresh news of note, apart from stronger US inflation data.
Equity markets swung from moderate gains to losses, the S&P500 making a fresh six-month high before closing down 0.8%. Bond yields and the US dollar rose, helped by stronger PPI inflation data. President Trump’s consideration of capital gains tax cuts initially helped sentiment, later dampened by news of stalemate in the US fiscal stimulus negotiations.
There was little fresh news to drive markets. Expectations of further US fiscal stimulus supported bond yields, but US sanctions on Chinese tech firms weighed on equities and risky currencies.
The news was mixed, leaving markets with mixed performances. Negatives included US sanctions on some Chinese technology firms, and failure to agree on the next US fiscal stimulus package. Against that, the monthly US jobs report was stronger than expected. The S&P500 closed up 0.1% on the day, but the NASDAQ100 fell 1.1%, the US dollar rose, and bond yields rose.
Sentiment was moderately upbeat on optimism a US fiscal stimulus package would be agreed this week. The S&P500 is up 0.6% on the day, the NASDAQ100 at a fresh record high, and the AUD and NZD performed well.
Sentiment was upbeat on optimism that Republicans and Democrats are approaching agreement this week on a US fiscal stimulus package. There was also promising news from Novavax on a COVID-19 vaccine. US data was mixed, with slowing job growth but rising services. The S&P500 is up 0.6% on the day, the NASDAQ100 is at a fresh record high, bond yields are higher, and the US dollar is lower.
Sentiment was cautious, as Republicans and Democrats failed to agree on a US fiscal stimulus package. The S&P500 is up 0.4% on the day, while bond yields and the US dollar are lower.
US equities remained upbeat, the S&P500 up 0.7% to a fresh five-month high, and the NASDAQ100 to a record high. Bond yields and commodities also rose, but so too did the defensive US dollar. US manufacturing data beat expectations.
US equities were in a moderately positive mood at month end (S&P500 up 0.8%), although bond yields were slightly lower and the US dollar reversed sharply from a two-year low.
Sentiment was depressed by sombre US economic data. The S&P500 is down 0.5%, and the US dollar and bond yields are slightly lower.
The FOMC kept policy settings unchanged but the narrative was dovish. Short-maturity bond yields fell and US equities rose (S&P500 up 1.1%), while the USD is slightly weaker.
Bond yields fell after the US Federal Reserve said it would extend its emergency lending programmes until year-end. Otherwise the new flow was light, currencies were little changed, and the S&P500 is down 0.6%.
Sentiment was moderately upbeat, helped by progress on further US fiscal stimulus and vaccine tests in final stages. The S&P500 is up 0.7%, the US dollar fell to a two-year low, and bond yields are higher.
Sentiment was capped by continuing US-China tensions, delays in further US fiscal stimulus, mixed US data (but solid European PMI data), and elevated COVID cases. The S&P500 fell 0.6%, while currencies were mixed and bond yields closed slightly higher.
Sentiment weakened amid growing US-China tensions and disappointing US jobless claims data. The S&P500 fell 1.2%, defensive currencies outperformed, and bond yields fell slightly.
Sentiment was mixed, with recent optimism dented by news of US-China consulate closures. The S&P500 is up 0.6% to a fresh five-month high, while currencies and bonds fluctuated for little net change.
Sentiment remained upbeat, and was reflected most clearly in currency markets, the defensive US dollar falling to a five-month low. The S&P500 is up 0.2% to a fresh five-month high, and major commodities prices are higher, while bond yields are little changed. Yesterday’s historic agreement on fiscal burden sharing in Europe was a catalyst, as were the likelihood of further US stimulus and promising vaccine news.
Sentiment was upbeat, lifting US equities to record highs in the case of the NASDAQ100, the S&P500 up 1.0% to a five-month high. The US dollar is slightly lower, while bond yields were rangebound.
US equities made modest gains during a quiet Friday session, while bond yields rose slightly and the US dollar fell.
The mix of vaccine news, US company earnings, stalled US re-openings, and US-China tensions has left risk sentiment in a holding pattern. US equities closed strongly, the S&P500 up 1.3% after reported COVID cases slowed. The US dollar is slightly lower and bond yields are little changed.
In a volatile US session, sentiment swung from optimism to pessimism. The S&P500 made a five-month high before erasing the gain and ending down 0.9%, and the NASDAQ100 set a record high before reversing to -2.2%). Bond yields are little changed after briefly nudging higher, while currencies are mixed.
Sentiment was moderately upbeat, positive COVID vaccine news dominating continuing case increases. The S&P500 closed up 1.1%, and bond yields rose, while currencies were mixed
Sentiment was moderately negative, amid rising COVID cases as well as a US court order on Pres. Trump’s financial records. The S&P500 is down 0.6%, bond yields are lower, and the USD is higher.
The US dollar fell against all major currencies, in an otherwise unremarkable session in Europe/US. The S&P500 is up 0.7%, commodities are slightly higher, and bond yields are little changed.
Equity markets paused after a five-day rally, the S&P500 down 1.1%. Bond yields are slightly lower, while currencies are mixed.
Sentiment was upbeat amid expectations that economies will continue to recover, despite persistent coronavirus hotspots. US services activity has recovered to normal levels, according to the ISM survey. The S&P500 is up 1.6%, the NASDAQ 100 up 2.5% to a record high. The USD underperformed.
Markets were quiet and slightly risk averse on Friday during the US holiday. The Eurostoxx50 fell 0.8%, and bonds yields fell slightly, while currencies were mixed.
A strong US jobs report boosted sentiment, although rising Covid cases and reopening halts later pared equity market gains. The S&P500 closed up 0.5%, the NASDAQ100 up 0.6% to a fresh record high. Bond yields and risky currencies were little changed overall.
US equities rose again, the S&P500 up 0.7%, while the NASDAQ100 rose 1.2% to a record high close amid promising vaccine news. Bond yields and risky currencies also rose. The FOMC minutes revealed little support for yield curve control currently.
US equities extended the previous day’s rebound amid quarter-end rebalancing and despite Covid warnings in the US. The S&P500 is up 1.5%, and bond yields and risky currencies are higher.
US equities rebounded, coinciding with a record bounce in home sales data, some stabilisation in Covid growth rates in the US, and quarter-end rebalancing. The S&P500 is up 1.0%, while currencies and bond yields were mixed with only minor movements.
Sentiment weakened amid an acceleration of Covid cases and tighter activity restrictions in some US states. The S&P500 closed down 1.4%, and bond yields and risky currencies fell.
Markets were fairly stable for most of the US session, with little fresh news for impetus. US equities rallied near the close, the S&P500 up 1.1%. Bond yields and risky currencies are little changed overall.
Markets refocussed on rising Covid cases in some US states, as well as US-EU trade tensions, pushing the S&P500 2.6% lower. Risky currencies and bond yields also fell.
Sentiment was helped by stronger European activity surveys, signals of further US government stimulus, and soothed US-China tared tensions. The S&P500 is up 0.4%, while the NASDAQ100 jumped 0.8% to a fresh record high. Risky currencies and bond yields made small gains.
US equities rose moderately, led by technology stocks. The S&P500 rose 0.6%, while the NASDAQ100 rose 1.2% to a record high close. The US dollar is lower, bond yields slightly higher.
Equity markets opened higher but faded as the case count in some US states continued to rise. The S&P500 closed down 0.6% on the day, with bond yields and risky currencies also slightly lower.
Equity markets remained stalled amid a further Covid cases in Florida, Texas, and parts of China. The S&P500 is down 0.2% on the day, with bond yields and currencies also slightly lower.
Equity markets stalled amid a further rise in Covid cases in the US; and continuing\ tensions between China and India, and North and South Korea. The S&P500 is down 0.4% on the day, with bond yields and currencies broadly unchanged.
Sentiment was helped by strong US retail sales data and reiterated support from Fed Chair Powell, and only briefly dented by news of rising Covid cases in parts of the US and activity restrictions in China. The S&P500 is currently up 1.1%, but risky currencies are slightly lower and bond yields are little changed.
Sentiment improved in Europe and the US. Equity markets shrugged off news of new infections in China, later supported by the Federal Reserve’s announcement that it would start buying corporate bonds. The S&P500 is up 0.8%, and bond yields and risky currencies are higher.
Sentiment was mixed. US equities opened sharply higher but by close had whittled down gains to +1.3%. US bond yields and risky currencies were rangebound. News flow was light.
Risk sentiment worsened as Covid cases in some parts of the US started rising again, markets also worrying about the Fed gloomy economic projections released yesterday. The S&P500 is down 5.8%, with risky currencies, bond yields and commodities also lower.
The Federal Reserve’s policy stance was more accommodative than the market had expected, causing bond yields to fall. The USD is slightly lower, while US equities were mixed, the S&P500 currently down 0.5%.
Equity markets in the US and Europe stalled. The S&P500 is down 0.8%, although tech stocks still performed well – the NASDAQ 100 making a fresh record high. Bond yields fell on the eve of the FOMC decision. Safe-haven currencies outperformed.
Equity market sentiment remained upbeat, the S&P500 up 1.2% to a fresh three-month high and within 5% of the record high made in February. Risky currencies followed suit. Government stimulus and recovery expectations remain the main drivers of sentiment.
A surprisingly strong US jobs report boosted appetite for US assets. May non-farm payrolls defied expectations, with job gains instead of losses, helping the S&P500 rise 2.6% and pushing bond yields to a three-month high.
Equity markets took a breath, the S&P500 down 0.7% on the day. Risky currencies and bond yields, though, made fresh recent highs. The ECB increased its asset purchase programme.
Sentiment remained upbeat, helped by economic data which has been less weak than expected. The S&P500 is up 1.5% on the day, and at a fresh three-month high, having gained 43% since March. Risky currencies and bond yields also rose.
Sentiment remained upbeat, with little fresh news of note. The S&P500 is up 0.8% on the day, and at a three-month high. The AUD again outperformed major currencies, while bond yields and commodities also rose.
Sentiment remained upbeat amid signs of economic recovery. That trumped ongoing US-China tension, US civil unrest, and poor results from vaccine trials. The S&P500 is up 0.5% on the day. Risky currencies, bond yields, and commodities also rose.
Sentiment remained upbeat after US Pres. Trump’s press conference on China was less confrontational than feared. The S&P500 closed up 0.5% on the day, while currencies were mixed and bond yields fell slightly.
Sentiment remained upbeat amid improving economic data, albeit dented by Pres. Trump’s announcement of a press conference on China tomorrow. The S&P500, which earlier was up 1.1% to a fresh three-month high, is currently unchanged on the day Risky currencies, bond yields, and commodities followed suit.
Sentiment was dampened by continuing US-China tension, the US declaring Hong Kong no longer autonomous from China. Despite that, the S&P500 has rebounded from earlier losses to be up 1.4% on the day, while risky currencies and bond yields are slightly lower.
Global equity markets rose further amid signs economies are starting to recover from the Covid crisis. The S&P500 is up 1.2% to a three-month high. Risky currencies, commodities, and bond yields are also higher.
Global equity markets are higher, with optimism on economies reopening outweighing US-China tensions. The Eurostoxx 50 closed 2.3% higher, and S&P500 futures (physical market closed for holiday) are up 1.2%. Bond and currency markets were fairly stable, partly due to the US holiday.
US equities opened weaker amid rising tensions in Hong Kong, but recovered to close slightly higher ahead of the US long weekend, the S&P500 up 0.2%. Bond yield rose slightly, while risky currencies underperformed.
US equities weakened slightly amid US-China tensions, the S&P500 down 0.8%. The USD is slightly firmer, while bond yields are little changed.
US equities extended a two-month old rally, the S&P500 up 1.7% on the day, for a total 36% gain since late March. Risk currencies and commodities followed suit, but bond yields are slightly lower.
US equities and bond yields were little changed for much of the overnight session, but fell into the close on reports downplaying the previous day’s vaccine news. The S&P500 is down 1.1%. Risky currencies still managed to outperform the safe-havens.
Sentiment was boosted by news of a new virus vaccine. The S&P500 is up 3.3%, following 5% gains in Europe. Bond yields and risky currencies are higher.
US and European equities closed slightly higher, the S&P500 up 0.4%. Escalating tensions between the US and China appeared to contain sentiment. Bond yields rose slightly, while risky currencies underperformed.
The mood improved during the US session, the S&P500 recovering from an initial fall to be up 1.2%. Bond yields and risk currencies partly followed suit. US officials said Pres. Trump was open to further economic rescue measures.
Markets remained in risk averse mode, as Fed Chair Powell delivered a dour economic outlook, and US-China tensions intensified. The S&P500 fell 1.8%, European equities earlier down 2.6%. The defensive US dollar is firmer, while bond yields are slightly lower.
The mood switched to a risk averse one during the US session, the S&P500 down 1.5% and US bond yields lower. US inflation data was slightly disappointing, and second Covid wave concerns persisted. US health official Fauci warned that premature opening could be harmful to the economy.
US equity markets continued to advance, but at a slower pace, the S&P500 up 0.3%. European equities earlier fell 1.2% on concerns over a second Covid wave, as well as the ECB/German court conflict. Bond yields rose, while commodities and risky currencies fell.
Global equity markets advanced further, the S&P500 up 1.7%. US job losses in April were no worse than expected, and markets are optimistic about a return towards normality. Bond yields, commodities, and the AUD and NZD all rose, consistent with the risk-seeking theme.
Equity markets were upbeat amid indications US-China trade talks would resume and Japan approved antiviral drug remdesivir. The S&P500 is up 1.2%, following similar gains in Europe. The AUD and NZD performed well, while US bond yields fell – some to record lows.
Equity markets were in a less optimistic mood overnight, the Eurostoxx down 1.1% and the S&P500 currently down 0.7%. The defensive USD rose, while longer term US bond yields rose on increased treasury issuance.
Sentiment improved as more regions announced exit from lockdown. The S&P500 is currently up 0.9%, oil prices recovered further, and bond yields are slightly higher.
Markets remained in risk averse mode during the European session amid continuing uncertainty about when economies would return to normal. European equities closed down 3.8%, while the S&P500 swung from a minor loss to a minor gain (currently up 0.3%). The US dollar rose.
Thursday’s risk averse mood continued, the S&P500 closing down 2.8%. Contributing to the mood were concerns about a possible second pandemic wave as US states start reopening, and a brewing spat between the US and China. The AUD and NZD performed poorly, while commodities and bond yields were mixed.
Sentiment reversed lower amid weak economic data in the US and Europe. The S&P500 is currently down 1.4%, while other asset classes such as bonds, commodities and currencies were mixed. Month-end portfolio rebalancings were also at play.
Sentiment was upbeat amid promising news about a COVID-19 treatment drug. Economic data and an on-hold Fed appeared to have little market impact. The S&P500 is currently up 3.0%, the USD is lower, and commodity prices are mostly higher. Bond yields are little changed.
Sentiment was mixed across asset classes, amid US economic surveys continuing to weakness ahead and more reporting companies withdrawing earnings guidance. The S&P500 is currently unchanged, after opening around 1.4% higher. The US dollar and bond yields are lower, while commodities were mixed.
Sentiment remained upbeat as countries moved towards relaxing lockdowns and Japan’s central bank committed to unlimited bond buying. The S&P500 is currently up 1.5%, and commodity-based currencies and bond yields are higher.
Sentiment in US equity markets improved compared to Europe, markets looking ahead to lockdown restrictions being relaxed. The S&P500 closed up 1.4%, and commodity prices and commodity currencies rose, while bond yields were mixed.
Sentiment was mixed, expectations that the peak of the pandemic may have passed tempered by reports that trials for an antiviral drug had failed. The S&P500 is currently up 0.2%, and oil prices are higher, as are commodity-based currencies, while bond yields are little changed.
A more upbeat mood prevailed as markets digested further US stimulus and some stabilisation in oil prices. The S&P500 is currently up 2.5%, Brent crude futures are up 7%, and bond yields are higher. The AUD outperformed other currencies.
The previous day’s risk averse mood continued, with equities and oil recording further losses. The S&P500 is currently down 2.7%, and Brent crude futures are down 27%. Bond yields are lower, while the defensive US dollar outperformed all major currencies.
An unprecedented plunge in US oil prices helped halt the recent rally in equity markets, the S&P500 currently down 1.7%. The US dollar and bond yields are little changed.
Global equity markets closed the week on a positive note, the S&P500 up 2.7%, for a 31% gain over the past month. Friday’s catalysts appeared to be the US government’s more relaxed lockdown guidelines for states to consider, and a US company’s promising test results for virus treatment. The defensive US dollar closed slightly lower, commodity prices rose, and bond yields fell and rose for little net change.
US equity markets fluctuated between gains and losses, the S&P500 closing up 0.7%. The defensive US dollar rose, while bond yields fell further, and most commodity prices were little changed. Markets digested news of extended lockdowns in New York and the UK, as well as US job losses and Q1 company earnings.
US equity markets fell amid economic data indicating the extent of damage done in March and surveys more to come in April. The S&P500 is down 2.3% and the US dollar is higher. US bond yields and commodity prices also fell.
US equity markets rallied on signs the pandemic’s spread is slowing. The S&P500 is up 3.1% and the US dollar is lower. Commodities were mixed, while US bond yields fell slightly.
US equity markets returned from the Easter holiday in a less optimistic mood. After last week’s 12% gain in the S&P500, the index is currently down 1.0% amid extreme uncertainty regarding the earnings outlooks for firms. The US dollar extended a week long decline, boosting the AUD and NZD. US bond yields rose slightly,
US equity markets remained upbeat amid optimism that the pace of new COVID-19 cases may be slowing. The S&P500 is currently up 3.4%, the AUD and NZD following suit. Oil prices and bond yields are also higher.
Global equity markets continued to rise amid optimism that the pace of new COVID-19 cases may be slowing. European equities closed up 2.2%, while the S&P500 opened 3.5% higher but later slumped to unchanged as oil prices fell. The AUD and NZD followed equities higher, while commodities were mixed, and bond yields reversed earlier gains.
Global equity markets rose as the pace of COVID-19 cases in some countries slowed. The S&P500 is currently up 6.1%, bond yields are higher, commodities are mixed, and AUD and NZD have followed the rise in equities.
Global equity markets ended the day lower, with the US S&P500 down 1.5%. Data showing a plunge in US jobs added to the negative tone, markets poised for an even worse outcome in April. The US dollar rose, as did oil prices, while US bond yields were rangebound.
US equity markets were initially dampened by weak job-loss data but then supported by a large rebound in oil prices. The S&P500 is currently up 1.2%. The US dollar rose, as did commodity prices and US bond yields.
The risk averse mood continued as the expected duration of lockdowns in Europe and the US lengthened. The S&P500 is down 4.4%, and US bond yields, commodities, and risky currencies are lower.
Positive sentiment in Asian and European equity markets failed to extend to the US, the S&P500 currently down 1.1%. Month-end rebalancing may have been a factor. Commodity prices were mostly higher, and US bond yields fell, while currencies were mixed.
US and European equities rose amid optimism that COVID-19 containment measures would eventually be successful, with quarter-end rebalancing perhaps also contributing. The S&P500 is up 2.9% and Eurostoxx50 +1.4%, while Australian equities rose 7.0% following the government’s large stimulus package announcement. Commodity prices and bond yields remained subdued, while the US dollar rose.
Markets ended Friday on a sombre note, with US equities reversing sharply during the last hour of trading. The S&P500 closed down 3.4%, and European equities closed down 4.2%. Commodity prices, bond yields, and the US dollar also fell, the latter allowing the AUD and NZD to perform well despite the risk averse backdrop.
Market sentiment was mixed across asset classes. Positive moves were seen in European equities which rose 1.7%, the S&P500 which is currently up 4.2%, and the safe-haven US dollar which is down 1.5%, Global bond yields are lower, though, as are major commodity prices. The US Senate unanimously approved the rescue bill, the House to vote on Friday. US jobless claims data jumped by a record amount – the first hard data reflecting the economic toll since shutdowns started.
Market sentiment improved further after US lawmakers agreed to a $2tr stimulus package yesterday. Germany also pledged significant support, relaxing its debt rules. Chinese equities closed up 2.2%, European equities up 3.1%, and the S&P500 is currently up 4.5%. The safe-haven US dollar fell, global bond yields were mixed, and commodities rose.
Market mood improved amid expectations that US politicians would agree on a significant spending bill to help the US economy through the COVID-19 crisis. Chinese equities closed up 2.3%, European equities up 9.2%, and the S&P500 is currently up 7.0%. The US dollar fell slightly, and bond yields and commodities rose.
Markets welcomed the Federal Reserve’s second wave of rescue actions, which includes open-ended bond buying. The S&P500, which at one stage was down 5% (for a total 35% since the high in February), is currently down 2.8%. The US dollar and bond yields are slightly lower, allowing the AUD and NZD to hold ground, while commodities fell further.
Markets shifted back into risk averse mode on Friday, unnerved by the scale of lockdowns in the EU and US. The S&P500 closed down 4.3% to the lowest close since February 2017. It has lost 32% over the past month. Commodity prices also fell, as did bond yields. Currencies were mixed.
Some semblance of calm appeared overnight as recent government and central bank actions to normalise markets were welcome. The S&P500 is up 1.4% currently, commodities and the AUD and NZD also recording gains. Bond yields fell.
Fear and panic returned to markets overnight. The S&P500 is down 8.3%, commodities are lower, the US dollar is higher, and the AUD/NZD cross broke below 1.0000 for the first time. Bond market routs continued, sending global term yields higher. Uncertainty about COVID-19’s duration and thus the economic downturn remained the main driver.
Government stimulus on a massive scale helped lift sentiment in European and US equity markets, the S&P500 currently up 4.5%. Commodities are lower, though, and the defensive USD is higher, resulting in fresh lows in the AUD and NZD. Bond yields again rose, perhaps reflecting the expected rise in government debt levels.
Equity markets remained in panic mode. The S&P500 is currently down 10.8%, and was down 11.5% at the overnight low. Commodities are also lower, oil down 14%. US bond yields are slightly higher and the US dollar is slightly lower – both inconsistent with the mood in equity markets. The dominant theme remains concern about the severity of the global economic slowdown.
US equity markets rose on Friday after the US President declared a national emergency and pledged to do whatever it takes to protect the economy from the pandemic. The S&P500 rose 9.3% - the largest one-day gain since 2010 – and commodities also recorded gains. Bond yields perversely rose as liquidation of “safe” assets continued. The Bank of Canada cut its rate 50bp, and this morning the RBNZ surprised with a -75bp move.
Market panic intensified overnight as governments around the world announced fresh containment measures. The S&P500 is down 8.5%, and made a fresh low since 2009. Many major equity markets recorded their largest one-day falls since 1987. Liquidation appeared to be widespread across equities, bonds, commodities, and currencies. The ECB announced new funding schemes following its policy meeting, and the Fed unexpectedly announced very large cash injections and extended asset purchases.
US equity markets swung back into fear mode, the S&P500 currently down 5.5% to a fresh one-year low. Commodities also fell, while currencies saw only modest moves and government bond markets were unfazed. Markets appeared concerned at: the lack of US Government response to date, the WHO officially declaring COVID-19 a pandemic, and the number of new cases ex-China rose sharply. The BoE cut its policy rate by 50bp outside its regular meetings.
Coronavirus fears were assuaged by governments’ pledges to fiscally assist, helping the S&P500 stabilise. It is currently up 2.7%, and bond yields, commodities, and the US dollar are higher.
US equity markets shifted from risk-averse to panic mode amid the coronavirus pandemic. The S&P500 is currently down 7.7%, for a total loss since February of 19%. Circuit breakers briefly halted trading due to the speed of decline at the open. Oil fell another 25%, and the US dollar is lower, while US bond yields rebounded after making fresh record lows.
Sentiment deteriorated further amid ongoing concerns about the economic effects of the coronavirus pandemic. Strong US jobs data was overlooked by markets. The S&P500 fell 1.7%, the Eurostoxx 50 fell 3.9% to a one-year low, US bond yields made fresh record lows, the US dollar fell to a one-year low, and oil plunged 10%.
US equities fell sharply overnight as coronavirus fears intensified following a rise in US cases. The S&P500 is down 3.2%, US bond yields are lower, and the US dollar is lower.
US equities rose overnight following results favouring a more centrist candidate in the US Democratic Party elections. The Bank of Canada’s 50bp rate cut, following the Federal Reserve’s, also helped soothe markets, as did some solid US economic data. The S&P500 is up 2.6%, US bond yields are lower, and the US dollar is higher.
The US Federal Reserve surprised markets with an inter-meeting 50bp rate cut, saying the COVID-19 virus is an evolving risk to the economy. US bond yields and the US dollar fell in response. So too did US equities, the S&P500 currently down 2.7%, perhaps unnerved by the Fed’s emergency move.
Equity markets rallied on signals that major central banks were likely to ease in response to the coronavirus pandemic. The S&P500 is currently up 2.7%, for a two-day gain of 6.0%. Risky currencies and commodities also rose, but bond yields remained depressed given central bank expectations.
Market concern about the coronavirus intensified as the pandemic spread further. The S&P500 closed down 0.8%, although was down 4.1% at one point. Bond yields, risky currencies, and commodities all fell.
Markets remained in risk averse mode, driven by ongoing coronavirus concerns. The S&P500 is currently down 1.3%, but had shed 3.5% at one point. US bond yields fell further, while the US dollar is lower.
US and European equity markets stabilised overnight in the absence of any significant fresh news regarding the coronavirus pandemic. The S&P500 is currently unchanged on the day. US bond yields remained depressed, while the AUD and NZD currencies fell further.
US and European equity markets remained in a risk averse mood overnight, coronavirus uncertainty persisting. The S&P500 is currently down 2.3% on the day, 7.1% over the past four days. US bond yields are also lower, which in turn may have weighed on the US dollar.
Equity markets remained downbeat on Friday, with coronavirus and disappointing US data contributing to the mood. The S&P500 closed down 1.1%, and the US dollar and bond yields fell.
The mood in equity markets soured as coronavirus fatalities outside China rose and company earnings reflected the pandemic’s impact. The S&P500 is down 0.7%, and bond yields and the AUD and NZD are lower.
US equity markets followed the more positive mood of Asian and European counterparts, raising the S&P500 0.6% to a fresh record high. Markets took note of the slight deceleration in new coronavirus cases, as well as further stimulus plans from China. The USD was helped by solid economic data, while bond yields consolidated.
US equity markets returned from the President’s Day holiday in a moderately defensive mood following news that Apple’s sales would suffer from production and demand disruptions due to the coronavirus pandemic. The S&P500 is down 0.4%, and bond yields and the AUD and NZD are slightly lower.
Markets were thinned during the US holiday, although S&P500 futures did trade 0.2% higher at a fresh record high. The Eurostoxx 50 closed 0.3% higher, while global bond yields and currencies were contained. The dominant influence remained pandemic developments.
Although US economic data disappointed on Friday night, equity markets appeared heartened by recent signals that the Fed will intervene if the coronavirus pandemic becomes more severe than expected. The S&P500 closed up 0.2% at a fresh record high. Bond yields fell slightly, while the AUD and NZD were little changed
Markets were briefly rattled yesterday by a methodology-related jump in China’s coronavirus cases, but calmed overnight. The S&P500 is little changed overall, as are US bond yields and the AUD and NZD.
Sentiment remained upbeat amid optimism the coronavirus pandemic will be contained, the economic effects temporary. The S&P500 is up 0.5% to a fresh record high, while bond yields, commodities, and the AUD and NZD are also higher.
Sentiment was upbeat amid optimism the coronavirus pandemic would be contained. The S&P500 is up 0.5% to a fresh record high, while bond yields, commodities, and the AUD and NZD are also higher.
Markets remained cautious, watching developments in the coronavirus pandemic. Most Asian and European equity indices closed slightly lower, while the S&P500 is currently up 0.3%. Commodities and bond yields fell further, while currencies were contained.
Sentiment deteriorated amid renewed concerns about the coronavirus pandemic. A strong US payrolls report provided only brief distraction. The S&P500 closed down 0.5%, bond yields fell, and the US dollar rose.
Sentiment rose further amid market optimism the coronavirus pandemic would be contained, also buoyed by confirmation of China’s reduction of tariffs on US goods. The S&P500 is up 0.4% and at a record high. Bond yields preserved recent gains, and the US dollar rose further.
Coronavirus concerns in markets appeared to abate further, buoyed by China’s stimulatory measures as well as the 1.3% rebound in Chinese equities. The S&P500 is up 1.7%, and most commodities, bond yields and commodity currencies are higher.
Coronavirus concerns in markets appeared to abate slightly after China responded with stimulatory measures. The S&P500 is up 0.7%, and bond yields are slightly higher (helped by a solid US manufacturing survey). Commodity remained under downward pressure, while AUD and NZD currencies were fairly stable.
Coronavirus was again the main driver of markets on Friday. The S&P500 fell 1.8% and the VIX index – a barometer of risk aversion – was at the highest since early October. Bond yields and commodity currencies also fell.
US equities fell as the coronavirus epidemic regained centre stage in markets. The S&P500 is down 0.7%, and bond yields and commodity currencies are lower. The GBP rose after the BoE did not cut its policy rate.
US equities are slightly higher amid a mix of solid company earnings and coronavirus news. The S&P500 is up 0.4%, while bond yields and commodity currencies are slightly lower. The Fed kept policy unchanged, as was widely expected, and the EU approved the UK’s Brexit deal.
US equities rebounded as concerns about the coronavirus epidemic appeared to fade and US economic data beat expectations. The S&P500 is up 1.1%, and bond yields are higher.
Sentiment remained depressed as the coronavirus epidemic spread further. The S&P500 is down 1.3%, and bond yields and risky currencies are lower.
Sentiment was hurt by the spread of the coronavirus epidemic from China to the US and Europe, seen as potentially affecting economic growth. The S&P500 closed down 0.9%, and bond yields and risky currencies fell.
The appearance of a de-escalation in the US-Iran conflict boosted sentiment further. The S&P500 is up 0.6% and at a record high, and US bond yields are slightly higher, while currencies were mixed.
Markets were placated by US President Trump’s address on Iran, where he said the country appears to be “standing down” following its retaliatory strike on US sites in Iraq. The S&P500 is up 0.7% and at a fresh record high. US bond yields are higher, while currencies were mixed.
Markets remained cautious, watching for any retaliation from Iran following the weekend’s US airstrike. The S&P500 is down 0.3%, and defensive currencies outperformed, while US bond yields ranged sideways amid some positive second-tier data.
Markets were in wait-and-see mode regarding the recent escalation in US-Iran tensions. Improvements in global services PMIs helped underpin sentiment. The S&P500 recouped initial losses to be unchanged currently, while US bond yields are slightly higher and defensive currencies are slightly lower.
Sentiment soured after news a US airstrike killed an Iranian general and a US manufacturing survey disappointed. The S&P500, which had risen 30% in 2019 and 0.9% on the first trading day of 2020, closed down 0.7%. Bond yields and risky currencies fell.
US equities nudged higher on little fresh news, the S&P500 up 0.4% and at a fresh record high. US bond yields fell after slightly disappointing US data, and the US dollar is slightly lower.
US equities remained elevated amid little fresh news, the S&P500 up 0.1% and at a fresh record high. The US dollar and US bond yields are also slightly higher.
The US dollar and US bond yields rose slightly, helped by solid economic data. The S&P500 is up 0.1% and at a fresh record high.
Sentiment rose in the wake of Friday’s US-China trade deal. The S&P500 is up 0.9% to a fresh record high, US bond yields are slightly higher, and the US dollar is slightly lower.
Sentiment initially remained elevated as a US-China Phase One trade deal was confirmed, but later softened as attention turned to looming Phase Two negotiations. The S&P500 initially made a record high but closed unchanged, while US bond yields and the US dollar closed lower.
Sentiment rose after US Pres. Trump said a US-China trade deal is very close. The S&P500 is up 0.6%, and US bond yields and the US dollar are higher.
Markets were contained ahead of the FOMC decision, just released, and remained so after the on-hold decision. The S&P500 is up 0.2%, and the US dollar and bond yields are slightly lower.
Markets were again contained amid mixed headlines on the likelihood of a US-China trade deal before 15 Dec. The S&P500 is unchanged, the AUD and NZD are slightly lower, and bond yields are slightly higher.
It was a quiet session for markets overnight, with no major news out. Equities, currencies and interest rates are little changed.
Sentiment was upbeat after US jobs data beat expectations. The S&P500 closed up 0.9%, bond yields and the USD also closing higher.
There was little fresh news to excite equity markets, the S&P500 unchanged. The US dollar is slightly lower, while US bond yields are slightly higher.
Sentiment rebounded on speculation that a US-China trade agreement will be reached before 15 December. The S&P500 is up 0.7% and US bond yields are higher.
Sentiment deteriorated further amid comments from US Pres. Trump that there is no deadline for a US-China trade deal. The S&P500 is down 1.0%, and US bond yields and the US dollar are lower.
Global equity markets were in a cautious mood on Friday awaiting the next iteration in the US-China trade negotiations, the S&P500 closing down 0.4%. US bond yields closed slightly lower.
Markets were contained during the US holiday, albeit with a slight risk averse tone after Pres. Trump yesterday signed a bill supporting Hong Kong protestors, prompting China to threaten retaliation. Asian and European equities closed slightly lower, and S&P500 futures are down 0.1%.
US markets were in a moderately upbeat mood, taking the S&P500 0.4% higher to a fresh record high. US bond yields and the US dollar also rose. One catalyst was the US GDP and durable goods data which beat expectations.
The S&P500 is up 0.2% to a fresh record high amid little news of note. US bond yields are lower, while currencies are little changed.
Markets were again fair well contained, with US-China trade headlines continuing to be the main point of interest. US equities, the US dollar, and some US bond yields closed slightly higher.
The pattern of moderate market fluctuations on mixed signals from the US-China trade negotiations continued. The S&P500 is down 0.1%, and the US dollar is slightly firmer, but US bond yields are also firmer.
Markets were in a risk-averse mood, concerned the US-China trade negotiations may have stalled. The S&P500 is down 0.7%, the US dollar is slightly firmer, and US bond yields remain near recent lows.
US equities are little changed after making an intraday record high, contained by mixed company earnings and mixed US-China trade news. US bond yields are lower, but the USD is unchanged.
The US dollar and Us bond yields fell slightly after reports of an adverse shift in US-China trade negotiations. Equities are little changed.
Markets were in an upbeat mood, expecting progress on US-China trade talks. The main US equity indices made record highs, the S&P500 closing up 0.8%. The USD fell, while US bond yields ranged sideways.