Global markets
US equites continued rally, propelled by tech stocks on Christmas Eve. Nasdaq +0.9%, S&P +1.1%, Nasdaq +1.4%. Investors continued to buy US equities for the seventh straight week, across the board, from ETF to single stock. Inflow reached USD 10 billion.
Interestingly, US equities advanced while US Treasury 10-y yield climbed higher to 4.59%, short distance from YTD high of 4.73% in April.
Malaysia markets
Local Macro
As we last chat, there ...
US equites continued rally, propelled by tech stocks on Christmas Eve. Nasdaq +0.9%, S&P +1.1%, Nasdaq +1.4%. Investors continued to buy US equities for the seventh straight week, across the board, from ETF to single stock. Inflow reached USD 10 billion.
Interestingly, US equities advanced while US Treasury 10-y yield climbed higher to 4.59%, short distance from YTD high of 4.73% in April.
Malaysia markets
Local Macro
As we last chat, there ...
27
Global markets
US equites started the week with gain, propelled by semiconductor. NYSE and Nasdaq will end early Tuesday 1pm ET (Malaysia Wednesday 2am) for Christmas Eve and close on Christmas.
DJ (+0.16%), S&P (+0.73%) and Nasdaq (+0.95), thanks to rally led by Broadcom (+5.5%).
Malaysia market
Local Macro
USDMYR encountered some resistance at 4.50 level and closed overnight at 4.49 (-0.0150). Not many activities in local bond market, whereby MGS 10-y yi...
US equites started the week with gain, propelled by semiconductor. NYSE and Nasdaq will end early Tuesday 1pm ET (Malaysia Wednesday 2am) for Christmas Eve and close on Christmas.
DJ (+0.16%), S&P (+0.73%) and Nasdaq (+0.95), thanks to rally led by Broadcom (+5.5%).
Malaysia market
Local Macro
USDMYR encountered some resistance at 4.50 level and closed overnight at 4.49 (-0.0150). Not many activities in local bond market, whereby MGS 10-y yi...
3
Global markets
US equities recouped the losses on inflation relief. All 3 indices rebounded firmly, DJ (+1.18%), S&P (+1.09) and Nasdaq (+1.03%).
VIX continued sliding from last week high of 28 to Thursday closing of 24 and close the week at 18.3, showing an improved risk sentiment.
US 10-years yield was still buoyant at 4.53%, propelled by fear of slower than expected rate cut cycle.
Malaysia markets
Local Macro
USDMYR closed above 4.50 level, due to ha...
US equities recouped the losses on inflation relief. All 3 indices rebounded firmly, DJ (+1.18%), S&P (+1.09) and Nasdaq (+1.03%).
VIX continued sliding from last week high of 28 to Thursday closing of 24 and close the week at 18.3, showing an improved risk sentiment.
US 10-years yield was still buoyant at 4.53%, propelled by fear of slower than expected rate cut cycle.
Malaysia markets
Local Macro
USDMYR closed above 4.50 level, due to ha...
18
Global markets
DJ (+0.04%) finally took a breather from 10thconsecutive losing streak. S&P500 (-0.09%) and Nasdaq (-0.12%) lost steam.
Fed indicated only 2 more cuts in year 2025, due to stubbornly high inflation. FOMC forecasted inflation to be around 2.5% next year. Bond futures priced in 1.5 cut next year only.
VIX retreated from its high of 28% to settle around 24%. Market still worried about the downside risk.
US treasury 10-years still hovered around...
DJ (+0.04%) finally took a breather from 10thconsecutive losing streak. S&P500 (-0.09%) and Nasdaq (-0.12%) lost steam.
Fed indicated only 2 more cuts in year 2025, due to stubbornly high inflation. FOMC forecasted inflation to be around 2.5% next year. Bond futures priced in 1.5 cut next year only.
VIX retreated from its high of 28% to settle around 24%. Market still worried about the downside risk.
US treasury 10-years still hovered around...
+1
15
Global markets
DJ (+0.04%) finally took a breather from 10thconsecutive losing streak. S&P500 (-0.09%) and Nasdaq (-0.12%) lost steam.
Fed indicated only 2 more cuts in year 2025, due to stubbornly high inflation. FOMC forecasted inflation to be around 2.5% next year. Bond futures priced in 1.5 cut next year only.
VIX retreated from its high of 28% to settle around 24%. Market still worried about the downside risk.
US treasury 10-years still hovered around...
DJ (+0.04%) finally took a breather from 10thconsecutive losing streak. S&P500 (-0.09%) and Nasdaq (-0.12%) lost steam.
Fed indicated only 2 more cuts in year 2025, due to stubbornly high inflation. FOMC forecasted inflation to be around 2.5% next year. Bond futures priced in 1.5 cut next year only.
VIX retreated from its high of 28% to settle around 24%. Market still worried about the downside risk.
US treasury 10-years still hovered around...
+1
19
Global markets
Powell cut rates, but hawkish cut! It sent US equities to a sea of red, DJ (-2.58%), S&P (-2.95%) and Nasdaq (-3.62%). Market already fully priced in 25 bps cut but the hawkish tone deteriorated risk sentiment.
Chair Powell said “today was a closer call” whether Fed decided to cut or not. Interest rates may not go down as fast as investor expected. “From here, it's a new phase, and we're going to be cautious about further cuts.”
VIX (1-month...
Powell cut rates, but hawkish cut! It sent US equities to a sea of red, DJ (-2.58%), S&P (-2.95%) and Nasdaq (-3.62%). Market already fully priced in 25 bps cut but the hawkish tone deteriorated risk sentiment.
Chair Powell said “today was a closer call” whether Fed decided to cut or not. Interest rates may not go down as fast as investor expected. “From here, it's a new phase, and we're going to be cautious about further cuts.”
VIX (1-month...
5
1
Global markets
All three US indices were in small red whereby DJ (-0.61%) declined 9thday consecutively. Nasdaq (-0.33%) retreated gain from multiple record breaking of historical high.
Retail sales of +0.7%, higher than consensus of 0.6%, highlighting that US economy is growing at a healthy pace.
Fed is widely expected to cut interest rates by 25 bps tomorrow. The focus will be on the pace of easing in year 2025. Market fully price in 1 cut of 0.25% this ...
All three US indices were in small red whereby DJ (-0.61%) declined 9thday consecutively. Nasdaq (-0.33%) retreated gain from multiple record breaking of historical high.
Retail sales of +0.7%, higher than consensus of 0.6%, highlighting that US economy is growing at a healthy pace.
Fed is widely expected to cut interest rates by 25 bps tomorrow. The focus will be on the pace of easing in year 2025. Market fully price in 1 cut of 0.25% this ...
+1
26
Global markets
Tech-heavy Nasdaq (+1.2%) notched another all-time high while DJ slid for 8 consecutive trading days. Broadcom (+11%) reported a significant increase in revenue, highlighting prominent outlook for AI.
Even though bond futures fully price in 0.25% rate cut this FOMC meeting, investors expect the rate cut cycle to be slower than expected. Hence, US Treasury 10 years rebounded firmly from 4.14% on 6 December to settle at 4.40% yesterday, weighi...
Tech-heavy Nasdaq (+1.2%) notched another all-time high while DJ slid for 8 consecutive trading days. Broadcom (+11%) reported a significant increase in revenue, highlighting prominent outlook for AI.
Even though bond futures fully price in 0.25% rate cut this FOMC meeting, investors expect the rate cut cycle to be slower than expected. Hence, US Treasury 10 years rebounded firmly from 4.14% on 6 December to settle at 4.40% yesterday, weighi...
3
1
Global markets
Tech-heavy Nasdaq (+1.2%) notched another all-time high while DJ slid for 8 consecutive trading days. Broadcom (+11%) reported a significant increase in revenue, highlighting prominent outlook for AI.
Even though bond futures fully price in 0.25% rate cut this FOMC meeting, investors expect the rate cut cycle to be slower than expected. Hence, US Treasury 10 years rebounded firmly from 4.14% on 6 December to settle at 4.40% yesterday, weighi...
Tech-heavy Nasdaq (+1.2%) notched another all-time high while DJ slid for 8 consecutive trading days. Broadcom (+11%) reported a significant increase in revenue, highlighting prominent outlook for AI.
Even though bond futures fully price in 0.25% rate cut this FOMC meeting, investors expect the rate cut cycle to be slower than expected. Hence, US Treasury 10 years rebounded firmly from 4.14% on 6 December to settle at 4.40% yesterday, weighi...
3
Global markets
Bond futures fully price in (97.1%) for 1 rate cut of 0.25% this Thursday 19 Dec, 3am FOMC meeting.
Malaysia markets
Local Macro
USDMYR rebounded from weekly low of 4.4200 and closed last Friday at 4.4500, while SGDMYR continued flirting around 3.30 region. The Malaysia government 10-year bond yield settled slightly higher at 3.82% (+0.03%).
More corporate currency hedging activities are expected for year end, including export proceeds, impo...
Bond futures fully price in (97.1%) for 1 rate cut of 0.25% this Thursday 19 Dec, 3am FOMC meeting.
Malaysia markets
Local Macro
USDMYR rebounded from weekly low of 4.4200 and closed last Friday at 4.4500, while SGDMYR continued flirting around 3.30 region. The Malaysia government 10-year bond yield settled slightly higher at 3.82% (+0.03%).
More corporate currency hedging activities are expected for year end, including export proceeds, impo...
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