Market wrap: US yields surged - US wage growth rising at the quickest pace since 2009 - ANZ

In a market wrap, analysts at ANZ Bank New Zealand Limited ("ANZ") explained that the US yields surged, with wage growth rising at the quickest pace since 2009. 

Key Quotes:

"The US 2-year yield rose 7bps to 2.70%, with the 10-year yield up the same amount to 2.95%.

Equities were biased lower on Trump saying he is ready to impose more tariffs on China, in addition to those pending. US shares were down about 0.2-0.3%.

European bourses were mixed, but moves were limited. Global yields followed treasuries, but moves were smaller.

The USD rallied against most in the G10 with AUD hit hard as a proxy for China on the back of trade headlines.

AUD broke below key technical levels and may soon test 2016 lows. NZD also weakened. Oil was up 0.1% and gold fell 0.3% on the stronger USD."