Daily Updates

The sell-off in the US Treasuries came to a halt on Thursday night, allowing for slight gains in the US stock market.

US stocks were mixed yesterday, while the sell-off in US Treasuries resumed with US 10-year yields reaching a new 16-year high.

US shares saw renewed broad-based declines overnight, as US bond yields remained high and hawkish Fedspeak continued.

The sell-off in government bonds continued over the long weekend, as Moody’s warned that the looming US government shutdown might harm its debt rating. US stocks ticked up on Monday, which followed slight declines on Friday. The Australian dollar appreciated against all the major currencies.

US equity prices continued to fall overnight in reaction to the hawkish pause from the FOMC.

US stocks declined quite sharply, while US Treasury yields rose further, as FOMC projections pointed to one more 25bps hike this year, while forecasts for the fed funds rate for the following years were revised slightly upwards.

US stocks resumed their decline overnight, as investors await the monetary policy decision and new projections from the FOMC due tomorrow morning.

It was a relatively quiet night for US equities as traders kept their powder dry ahead of the FOMC interest rate decision on Wednesday and there was little in the way of economic data to drive sentiment. While no rate hike is expected, the messaging is expected to remain hawkish. The flat result followed a weak session in Europe and a selloff across much of the Asia-Pacific, including Australia.

US stocks wiped off the gains from earlier in the week on Friday, dragged down by concerns that ongoing strong economic conditions in the US may prompt the Fed to continue monetary tightening.

US stocks saw solid gains overnight, as US economic data hit the sweet spot of boosting sentiment without raising rate hike expectations.

US stocks were mixed last night and US Treasury yields declined, despite the rise in US inflation.

US equities slipped and US two-year Treasury yields rose ahead of tonight’s eagerly anticipated US CPI report. The Aussie dollar is up against the major currencies except for the euro, which jumped late in the session on reports the ECB may lift its inflation outlook, pushing up expectations for a euro area rate hike on Thursday.

US stocks saw further increases last night, while US Treasury yields were little changed, and the US dollar depreciated somewhat, as investors await the US CPI data scheduled for Wednesday.

US stocks closed slightly higher after a choppy session on Friday, as investors are awaiting US CPI data scheduled for Wednesday night.

US stocks were mixed on Thursday, as another decline in US initial jobless claims raised further doubts over whether the Fed has concluded its tightening cycle.

US stocks declined last night, as the strong US ISM services PMI report raised questions about whether the Fed is done for this tightening cycle.

The US markets started their trading week on the back foot, with equities declining, led by materials, industrials, and utilities. Oil prices bounced to the highest levels since mid-November 2022, after Russia and Saudi Arabia extended their voluntary oil supply cuts until the end of 2023.

It was a quiet day in the global financial markets, with US investors away for the Labor Day holiday.

Relatively benign economic data saw US equities close Friday’s session marginally higher ahead of the Labor Day holiday today. US Treasury yields rose, and the US dollar strengthened. Aussie bond yields have risen with yields elsewhere and the Aussie slipped against the stronger greenback.

US stocks were mixed last night, as US consumer spending was stronger than anticipated and a key inflation figure was as expected.

US stocks rose further last night, as downside surprises to US economic data supported the view that further fed funds rate hikes will not be needed. US Treasury yields declined slightly, while the US dollar depreciated.

US stocks continued to climb last night, while the recent rise in fed funds rate expectations were unwound following the downside surprise to JOLTS job openings.

Yesterday was a quiet start to a busy week, with US equities rising on low trading volumes, as investors await employment and ISM data due later this week.

US stocks edged higher on Friday, supported by the balanced language of Fed Chair Jerome Powell’s speech at the Jackson Hole symposium. US 2-year Treasury yields picked up on slightly higher fed funds rate expectations, but the back end of the curve was relatively steady. The Australian dollar appreciated against the US dollar and the weaker Japanese yen.

US stocks fell last night, while US Treasury yields picked up, as investors await the speech by Fed Chair Jerome Powell scheduled for tonight.

US stocks rose overnight, as weaker PMIs increased confidence that central banks are at the end of the tightening cycle.

Bond yields fell overnight, and US equities saw renewed declines. The Australian dollar appreciated against all the major currencies except the Japanese yen, as iron ore prices extended their rally.

The selloff on bond markets resumed overnight, driving the 10-year US Treasury yield to its highest level since late 2007. Aussie bond yields have opened sharply higher this morning. US equities were mixed, with more members of the S&P 500 falling than gaining, however, strong increases info tech and consumer discretionary shares pushed the index into the green.

Concern over possible financial instability in China kept financial markets on edge on Friday. US equities closed pretty much flat following losses across most of Europe and the Asia-Pacific. Government bond yields declined after rising through most of last week.

US stock indices continued to decline during a choppy session on Thursday, following losses in Europe and mixed results in Asia. US Treasury yields fell at the front end of the yield curve, while 10-year yields are hovering around the highest levels since late 2007. The AUD/USD pair briefly dropped below US$0.64 but recovered back above this mark overnight.