A major global bond sell-off sent yields higher and equities lower on Friday night, while US industrial production beat expectations. Trade tensions eased slightly following a positive meeting between Xi and Trump regarding agricultural purchases.
Key Takeaways
- 1.Global bond markets experienced a sharp sell-off, driving yields significantly higher and equity markets lower.
- 2.US Industrial Production in April surprised to the upside at 0.7% m/m, significantly beating consensus of 0.3%.
- 3.The Xi-Trump meeting resulted in positive trade headlines, including China's commitment to buy $17bn in US agricultural goods.
Table of Contents
- Highlights
- Data and events today
- Financial markets
- Global markets overview
- Key data and events
- Market snapshot (07:15 NZ Time)
- Key data releases
- What's ahead today
- Key themes and views
- Important Notice
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Authors
Sharon ZollnerDavid CroyHenry Russell
Securities
NZD/USDSPXCLUS 10yr Treasury
Themes
Global Bond Sell-offMonetary Policy DilemmaEnergy Supply DisruptionUS-China Trade Relations
Regions
Asia PacificNorth AmericaEuropeNew ZealandUnited StatesChina