US equities rose further, the S&P500 currently up 0.7%, and bond yields retreated further. US inflation data was slightly weaker than expected, supporting the Fed’s accommodative stance. The USD was mixed, with risk-sensitive currencies firming slightly.

US equities rose for a third consecutive day, the S&P500 currently up 1.9%. The defensive US dollar fell against all the majors, reversing from a four-month high. Despite the upbeat tone, bond yields fell. There was little fresh news of note for markets.

US equities rose, the S&P500 currently up 0.3%. The US dollar rose further, to a fresh three-month high, and bond yields remained around 12-month highs. There was little fresh news of note for markets.

US equities rebounded from losses to gains, the S&P500 closing up 2.0%. The US dollar rose to a three-month high after a strong jobs report, while bond yields spiked only briefly.

US equities fell, the S&P500 down 2.0% to a one-month low, after Fed Chair Powell disappointed a market which was seeking action to tackle rising bond yields. Bond yields and the US dollar rose.

US equities fell (S&P500 -0.8%) as the ascent in bond yields resumed, allowing the defensive US dollar to firm slightly.

Markets appeared to be in stall mode, with US equity indices and bond yields little changed. The US dollar, though, did weaken.

Equity markets bounced back, the S&P500 currently up 2.2%. Bond yields rose slightly, while risk sensitive currencies made only modest gains. There was little news of note for markets. The passing of month-end rebalancing may have been a factor.

Equity markets weakened further, the S&P500 closing down 0.5%. The risk averse mood also helped push bond yields and commodities lower, and the defensive US dollar rose.

A meltdown in global bond markets spilled over to equity markets which were already unnerved by the relentless rise in long-term interest rates. The S&P500 is currently down 2.2%, following a 20bp jump in US 10yr bond yields. The defensive US dollar benefitted from the turmoil.