1Dec by Westpac Bank

US equity markets rose further, the S&P500 closing up 0.2% to a fresh record closing high. The defensive US dollar fell, but so too did bond yields, the latter suggesting some caution as Covid cases and shutdowns persist.

27Nov by Westpac Bank

US equity markets rose after official acknowledgement that Joe Biden won the US presidential election. The S&P500 is up 1.6% and is poised to make a record closing high. The defensive US dollar fell and risk-sensitive currencies outperformed, while bond yields rose.

US equity markets recorded modest gains, the S&P500 up 0.4%, helped by positive vaccine news. Currencies were notably buffeted by stronger US PMI data which helped the USD bounce off a three-month low. US bond yields rose slightly.

23Nov by Westpac Bank

Risk sentiment remained slightly defensive, with optimism on vaccine distribution balanced by caution amid activity restrictions. The S&P500 is down 0.2%, the defensive US dollar is slightly firmer, and bond yields are slightly lower.

Equity markets remained elevated but stalled, positive vaccine news offset by restrictions on activity. The S&P500 is unchanged, although risk sensitive currencies and bond yields recorded gains.

The November rally in equities stalled, having digested the previous day’s positive vaccine news which took the S&P500 to a fresh record closing high. The index is currently down 0.2%, and bond yields and risk sensitive currencies are slightly lower.

Sentiment was boosted by more positive vaccine news, helping the S&P500 rise 0.9% to near a record high. Bond yields rose slightly, and the defensive US dollar fell slightly.