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%.

4Nov22

Interest rates fell amid weaker US and German economic data. The USD is slightly lower, and the S&P500 is down 0.9%.

210423

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.

210324

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.

170724

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.

250724

Bond yields fell on relief US inflation data was not stronger than expected. The US dollar was little changed, while equities rose.

290724

The US dollar rose slightly amid little major news. Bond yields were contained.

300724

Bond yields and equities fell amid a more risk averse market mood, while currencies were mixed. Middle East tensions flared.

310724

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.

160824

Bond yields were volatile amid mixed US economic data, ending the day slightly lower. The US dollar fell, while equities rose slightly.

190824

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.

230824

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.

200924

ond yields rose slightly while the US dollar and equities closed little changed amid quarter end equity derivative position rollovers and some Fedspeak.

230924

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.

300924

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.

021024

Mixed US economic data (PPI inflation, consumer sentiment) caused mixed reactions in bond yields and little net change in currencies, while equities rose.

131024

Markets were volatile following minor US economic data surprises, leaving bond yields slightly lower but fx little changed.

161024

Bond yields and the US dollar fell, while the main US equity indices made fresh record highs.

211024

Global bond yields rose as market pricing for central bank easing was pared further. The US dollar also rose.

221024

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.

241024

Bond yields were volatile but overall rose slightly, while the US dollar is little changed. Risk sentiment was moderately positive.

291024

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.

311024

Bond yields and the US dollar initially plunged in response to US jobs data, which was weaker than expected, but later retraced those reactions.

041124

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.

061124

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.

071124

Bond yields fell, despite firmer producer price inflation and jobless data, while the US dollar was little changed.

151124

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.

201124

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.

251124

Bond yields and the US dollar fell, and US equities rose, in response to the nomination of the US Treasury Secretary yesterday.

261124

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.

271124

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.

281124

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.

021224

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.

031224

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.

041224

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.

051224

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.

061224

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.

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