Market wrap: little changes, still expecting Fed hike  - Westpac

Analysts at Westpac offered a Market wrap.

Key Quotes:

"Global market sentiment: The S&P500 nudged to a fresh record high overnight but is currently back to unchanged. US interest rates and the US dollar are also little changed. Commodities ex-oil performed well.

Interest rates: US 10yr treasury yields ranged between 2.29% and 2.34%, consolidating near its multi-month high.. The 2yr yield extended its rise, though, from 1.08% to 1.10% - a 6-year high. Fed funds futures continued to imply a 100% chance of a rate hike in December.

Currencies:  The US dollar index is little changed. EUR ranged sideways between 1.0584 and 1.0658. USD/JPY rose from 110.60 to 111.36, equal to the previous day’s six-month high. Outperformer AUD rose from 0.7370 to 0.7414, perhaps helped by a 6.5% rise in iron ore prices yesterday. NZD slipped from 0.7080 to 0.7032. AUD/NZD rose from 1.0440 to 1.0490.