Global markets ended the week on a firm note despite Middle East volatility, while US consumer sentiment hit record lows due to rising gasoline prices. Fed Governor Waller adopted a hawkish tone, leading markets to price in a higher probability of rate hikes by December.
Key Takeaways
- 1.Global equities remain resilient, with the S&P 500 extending its longest weekly winning streak since late 2023 despite Middle East geopolitical tensions.
- 2.Fed Governor Waller has shifted to a hawkish stance, suggesting rates should stay on hold and potentially rise if Iran-related inflation pressures persist.
- 3.US consumer sentiment has plunged to record lows as high gasoline prices ($4.55/gallon) and cost-of-living pressures erode personal finances.
Table of Contents
- Events round-up
- Good morning
- Currencies
- Equities
- Commodities
- Interest Rates
- NZ Government Bonds
- NZ BKBM and Swap Yields
- NZ Inflation-Indexed Bonds
- NZD exchange rates
- NZD/USD Forward Points
- NZD/AUD Forward Points
- Contact Details
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Authors
Stuart RitsonStephen ToplisDoug SteelJason WongMike Jones
Securities
SPXBrent CrudeUS 10-Year TreasuryNZDUSDNKY
Themes
Geopolitical conflict as an inflation driverCentral Bank Pivot to HawkishnessConsumer Sentiment vs Market Performance Divergence
Regions
Asia PacificNorth AmericaEuropeNew ZealandUnited StatesJapan