Finance Am

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.

011124 by Westpac Bank

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.