Bond yields and the US dollar rose, helped by stronger US consumer sentiment and inflation expectations.

Bond yields and the US dollar fell further, and equities rose further (S&P500 up 0.9%, highest since March 2022). US PPI inflation was softer than expected, endorsing the disinflationary theme evident in the previous day’s CPI update.

US inflation data was softer than expected, causing bond yields and the US dollar to fall, and equities to rise – the S&P500 up 0.7%.

US equities rose, the S&P500 up 0.7%, and the US dollar fell slightly, with little major news flow for markets to digest.

US bond yields and the US dollar fell amid little major news for markets to digest. Equities are little changed.

US jobs data was not as strong as expected, causing the US dollar to fall. Bond yields were mixed, and equities fell slightly (S&P500 -0.3%).

US economic data was stronger than expected, pushing bond yields higher, and risk-sensitive currencies and equities lower (S&P500 -0.8%).

Bond yields and the US dollar rose as US markets returned from holiday. The FOMC minutes extended these moves slightly.

Sentiment remained elevated ahead of the US holiday, the S&P500 up 0.1%. Bond yields and the US dollar only briefly dipped following weaker US manufacturing data.

Risk sentiment rose further, the S&P500 up 1.2% to a nine-month high. The defensive US dollar fell, while bond yields were mixed. US inflation data softened slightly.