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Westpac Markets Update: Robert Rennie, 16 August 2019


Bond markets are rarely mentioned even in the finance segments of general news updates, so to hear bulletins this week led by discussion of the US yield curve was surprising indeed. The key driver for this was the US yield curve inverting for the first time since 2007. An inverted yield curve, where the difference between the yield on say a 10yr US Government bond and a 2yr bond is negative has long been touted as a harbinger of US recession.

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About Sean Callow

Sean analyses the key factors driving the Australian dollar and other G10 currencies. With three years experience in Westpac’s Singapore office, Sean continues to keep a close eye on Asian FX trends. Before joining Westpac, Sean spent 13 years in New York and London, as a senior currency strategist and has also been a financial markets economist in Melbourne. He has a Bachelor of Economics degree (with Honours) from Monash University.

About Robert Rennie

Robert heads up the FX Strategy Group at Westpac. He specialises in Australasian currencies with particular focus on the AUD, JPY and North East Asian currencies. Robert is widely recognised for his market leading analysis of capital flow in these specialist areas. Prior to joining Westpac in 2000, Robert spent 14 years as an Investment Banker in London with Morgan Stanley Dean Witter and Midland Bank. He has a Bachelor Degree in Economics (Honours) and a Masters in Economics from universities in the UK.

Market insights on currencies

If you want to know more about what is happening in the foreign exchange markets, have a look at the publication below.

Westpac FX Weekly
A brief discussion of the week's developments in the Australian dollar against a range of currencies including the US dollar, New Zealand dollar and euro.