Westpac Morning Report
After a volatile week that included a US Fed rate hike and US Treasury yields pushing towards 5%. market moves were relatively subdued on Friday. Equities were mixed, sovereign bond yields ticked higher, oil prices fell, and the US dollar was broadly unchanged. In energy markets, reports indicated that Saudi Aramco told several European refiners they would receive no crude next month after a pipeline to the Red Sea was attacked. Despite the BoJ delivering a 25bp rate hike to 1.25%. the yen fell as Governor Ueda struck a cautious tone on further tightening. The move was also overshadowed by dissent from two appointees of PM Takaichi. Key US equity indices were mixed as concerns about inflation and ongoing Middle East tensions offset optimism surrounding AI. The S&P 500 rose 0.2% to 7.651 to finish the week broadly unchanged. The Dow Jones Industrial Average fell 0.2% and finished the week 1.7% lower. The tech-heavy Nasdaq outperformed, gaining 0.4% on the day to end the week 0.7% higher. European equities were weaker, weighed down by automakers after Volkswagen AG cut its profit outlook and ongoing Middle East tensions triggering concerns around global energy supplies. The Euro Stox
After a volatile week that included a US Fed rate hike and US Treasury yields pushing towards 5%. market moves were relatively subdued on Friday. Equities were mixed, sovereign bond yields ticked higher, oil prices fell, and the US dollar was broadly unchanged. In energy markets, reports indicated that Saudi Aramco told several European refiners they would receive no crude next month after a pipeline to the Red Sea was attacked.
25%. the yen fell as Governor Ueda struck a cautious tone on further tightening. The move was also overshadowed by dissent from two appointees of PM Takaichi. Key US equity indices were mixed as concerns about inflation and ongoing Middle East tensions offset optimism surrounding AI.
651 to finish the week broadly unchanged. 7% lower. 7% higher. European equities were weaker, weighed down by automakers after Volkswagen AG cut its profit outlook and ongoing Middle East tensions triggering concerns around global energy supplies.
4%. 5%. 5%. 2% lower.
6%. Locally, the S&P/ASX 200 was broadly unchanged at 8,731. 711. The bond market sell-off continued with yields ticking higher.
0%. Traders are now pricing around 33bps of rate hikes by the end of 2026 and almost 85bps by the end of 2027. 52%. 30%.
99%. Commodity markets were mixed overnight. 7%. 30 a barrel.
The company is also reportedly increasing exports from facilities located outside the Strait of Hormuz. 9% to US$4,379/oz. 3%. 5%.
10/t. 3%.