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9 Feb 2015
Market Movers: US NFP numbers sends ACGB’s and NZGB’s higher – TDS
FXStreet (Barcelona) - The TD Securities Team shares the market performance during the Asian trade, noting expectations for an early Fed rate hike post the upbeat NFP print sent both ACGB and NZGB higher across the curve.
Key Quotes
“With the strong US payrolls number (and revisions) spurring speculation that a June Fed hike is again in play, this helped to drive the back-up in ACGB and NZGB yields. 3yr ACGBs + 4.5bps, 10yr +9.5bps; NZGB yields +8-10bps higher across the curve.”
“In contrast, the AUD is virtually unchanged after opening lower on the weak China trade report and Greece-ECB headlines. The AUD is weaker by 0.35%, but all other crosses are stronger vs the USD by around 0.15%.”
“Equities within our region are mixed. Chinese stocks put in a good reversal, +0.9% now, but were -1% earlier; Japanese stocks +0.3%, but the rest of the region is in the red, led by Indian stocks –1%, as local elections in Delhi project Modi’s BJP to be defeated.”
“Gold is up US$4 after the sharp decline on Friday at US$1238, iron ore futures are unchanged, copper futures are down -1.4% and Brent Crude is +0.3% stronger.”
Key Quotes
“With the strong US payrolls number (and revisions) spurring speculation that a June Fed hike is again in play, this helped to drive the back-up in ACGB and NZGB yields. 3yr ACGBs + 4.5bps, 10yr +9.5bps; NZGB yields +8-10bps higher across the curve.”
“In contrast, the AUD is virtually unchanged after opening lower on the weak China trade report and Greece-ECB headlines. The AUD is weaker by 0.35%, but all other crosses are stronger vs the USD by around 0.15%.”
“Equities within our region are mixed. Chinese stocks put in a good reversal, +0.9% now, but were -1% earlier; Japanese stocks +0.3%, but the rest of the region is in the red, led by Indian stocks –1%, as local elections in Delhi project Modi’s BJP to be defeated.”
“Gold is up US$4 after the sharp decline on Friday at US$1238, iron ore futures are unchanged, copper futures are down -1.4% and Brent Crude is +0.3% stronger.”