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Bond yields still rising

• Higher bond yields. Inflation pressures and ‘hawkish’ rhetoric continues to fuel expectations of ongoing rate hikes by the major central banks.• China reopening. Large lift in the PMIs on the back of the reopening. This has supported commodities. But it may add to inflation down the track.• AUD range bound. Positive China developments has been offset by sluggish domestic growth and signs inflation has passed its peak. The upswing in global bond yields has continued, with inflation concerns front-of-mind for investors. Positive risk sentiment in yesterday’s Asian trade generated by the large lift in the China PMIs as the...

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China Reopening Hopes Lift Markets

March is coming in like a lion, with risk appetite rebounding across asset classes on evidence of a stronger-than-expected recovery in the Chinese economy. The US dollar is in retreat as investors pile into the euro on hopes for stronger exports, and as they buy emerging market currencies on an expected rise in raw materials demand. Major North American equity bourses are setting up for a stronger open even as Treasury yields tick higher. The Canadian dollar is gaining, but continues to lag a broader improvement in the commodity complex. The China reopening trade roared back to life last night...

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