US equities extended a four-month old rally, the S&P500 up 0.2% to a record high. That seemed to lift bond yields, despite subdued inflation data, while the defensive US dollar fell. Month-end rebalancing may also have influenced markets.

Finance AM 29 Apr by Westpac Bank

Sentiment was mixed, with US equities holding steady near record highs, and most currencies and bond yields contained. The Swedish krona fell to a 17-year low after a dovish shift by its central bank.

Currency and interest rate markets appeared to be in a risk averse mood. US equities, in contrast, were upbeat, the S&P500 currently up 0.9% and close to a record high amid a flurry of strong company earnings reports.

Equity and currency markets were contained overnight, while US bond yields were slightly affected by the 3% surge in oil prices. Brent crude rose to a six-month high of $74.50 after the US sought to block Iranian oil exports.

US equities opened at multi-month highs, but then retreated, the S&P500 currently down 0.3%. US bond yields also u-turned, unchanged on the day, as is the US dollar.

US equities nudged higher, the S&P500 up 0.1% to a fresh seven-month high, with markets focussed on quarterly earnings reports and brushing aside disappointing US industrial production data. US bond yields also rose, as did the US dollar.

Markets were contained overnight, with equities, currencies and interest rates eking narrow ranges in the absence of major data or news.

Markets were contained overnight, with equities, currencies and interest rates eking narrow ranges in the absence of major data or news.

US equities rose following strong bank earnings results and Chinese trade data. The S&P500 closed up 0.7% to a six-month high. That sentiment helped US bond yields rise and the US dollar fall, with AUD the best performing currency.