Key global events from overnight - ANZ

Analysts at ANZ explained the global events from overnight.

Key Quotes:

"US equities traded lower through the New York morning with market jitters on the possibility of a faster pace of monetary policy tightening continuing. Global yields were generally higher and the USD was mixed. 

Commodities traded lower. The rally in Asian equities did not last through the European session with European bourses sold heavily into the close. Euro Stoxx 50 fell 2.2%, DAX shed 2.6% and CAC 40 dropped 2.0%. 

The BoE was more hawkish than expected, sending UK yields 4-9bps higher across the curve, and driving equities 1.5% lower. US yields initially pushed higher, with the 10-year yield hitting as high as 2.88%, but it has since retraced to 2.83% (largely unchanged). 

The front end of the curve was unchanged. At the time of writing US equities are sharply down (Dow Jones -2.3%, S&P 500 -2.2%, Nasdaq -2.0%). The USD was mixed in the G10 with GBP sharply higher after the BoE meeting, breaking above 1.40 temporarily. 

CHF rose 0.7% and JPY rose 0.5%. WTI crude fell another 1.6%. Gold is up 0.7% at the time of writing at USD1320/oz."