A risk averse mood prevailed, the S&P500 down 1.1% and commodities weaker. Bond yields and the US dollar were initially boosted by hawkish comments from a Fed member, only to be reversed following the FOMC minutes which didn’t offer strong clues on tapering timing.

Markets were in a risk averse mood as Covid continued to spread and US retail sales data was weak. The S&P500 is down 0.7% and the defensive US dollar is higher, while bond yields consolidated near recent lows.

Markets were initially in a risk averse mood, following yesterday’s weak Chinese data, a softer US activity survey, and Covid concerns. Later, the S&P500 recovered from a 0.7% loss to a 0.1% gain to a fresh record high. The US dollar recovered slightly, while bond yields consolidated recent declines.

US bond yields and the US dollar fell after a sharp fall in a closely-watched consumer sentiment survey. The dovish implications for the Fed supported US equities, the S&P500 up 0.2% to a fresh record high.

US bond yields and the US dollar fell after data showed US core inflation was not quite as strong as expected. More hawkish Fedspeak had little impact. Commodities and equities had a positive session, the S&P500 up 0.2% to a fresh record high.

US bond yields extended a multi-day rise, helped by the residual effects of recent Fedspeak signalling QE tapering. The S&P500 is up 0.1% to a fresh record high, while commodity currencies outperformed safe-havens.

US bond yields rose further, supported by Fed commentary advocating QE tapering. The US dollar is slightly firmer, while the S&P500 is down 0.1% and commodities are lower on concerns stimulus may be reduced.

US jobs data was stronger than expected, causing US bond yields and the US dollar to rise in response. The S&P500 was volatile but managed to close up 0.2% at a fresh record high.

US equities extended the see-saw pattern of the past two weeks, the S&P500 up 0.6% at a record closing high. Bond yields rose slightly, while risk-sensitive currencies outperformed slightly. The Bank of England maintained policy settings but signalled eventual tightening.

Hawkish comments from Fed Vice-chair Clarida plus strong US services activity data boosted bond yields and the US dollar, reversing earlier weakness which followed disappointing ADP jobs data. US equities are slightly lower.