Jason Wong
In a global low yield environment, NZ’s relatively high yields stand out as representing very good value. Offshore demand is strong
5th Apr 16, 8:16am
In a global low yield environment, NZ’s relatively high yields stand out as representing very good value. Offshore demand is strong
US and China supply markets with stronger data, Japan with weaker data. Currencies little changed although the Yen rises with Japan risk-off mood
4th Apr 16, 8:05am
US and China supply markets with stronger data, Japan with weaker data. Currencies little changed although the Yen rises with Japan risk-off mood
A better-than-expected China PMI result pushes up the NZ yield curve. Stronger US jobs data confuses investors over probability of a US hike
4th Apr 16, 7:19am
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A better-than-expected China PMI result pushes up the NZ yield curve. Stronger US jobs data confuses investors over probability of a US hike
US Treasury yields continue to decline although one full US rate hike is implied by market pricing; NZ swap curve steepened as long end rises sharply; strong demand expected for latest NZDMO bond tender
24th Mar 16, 8:27am
US Treasury yields continue to decline although one full US rate hike is implied by market pricing; NZ swap curve steepened as long end rises sharply; strong demand expected for latest NZDMO bond tender
Message from latest round of Fed speakers suggest hikes should be looked at next month; USD in broad based rise; NZD/AUD back over 89c
24th Mar 16, 8:17am
Message from latest round of Fed speakers suggest hikes should be looked at next month; USD in broad based rise; NZD/AUD back over 89c
German & US key bond yields lower in risk-off trading; S&P highlights NZ's monetary & fiscal flexibility as well as economic resilience in latest credit rating report
23rd Mar 16, 8:33am
German & US key bond yields lower in risk-off trading; S&P highlights NZ's monetary & fiscal flexibility as well as economic resilience in latest credit rating report
Risk index climbs in wake of terror attacks in Brussels; AUD bid up after RBA Govenor's speech; NZD/AUD approaching heavy technical support level of 88c
23rd Mar 16, 8:19am
Risk index climbs in wake of terror attacks in Brussels; AUD bid up after RBA Govenor's speech; NZD/AUD approaching heavy technical support level of 88c
Expectation of easier monetary policy sees NZ 2-year swap rate fall further; implied US break even inflation rate gets attention; upside bias to global bond yields
22nd Mar 16, 8:29am
Expectation of easier monetary policy sees NZ 2-year swap rate fall further; implied US break even inflation rate gets attention; upside bias to global bond yields
GBP continues to be sold off; US existing home sales disappoint; USD continues post FOMC recovery; oil price tracks lower, NZD follows
22nd Mar 16, 8:21am
GBP continues to be sold off; US existing home sales disappoint; USD continues post FOMC recovery; oil price tracks lower, NZD follows
Traders re-think positions post FOMC meeting; US consumer confidence weaker, inflation expectations rise; 10-year NZ government bonds trade under 3%
21st Mar 16, 8:44am
Traders re-think positions post FOMC meeting; US consumer confidence weaker, inflation expectations rise; 10-year NZ government bonds trade under 3%
Mixed communication from Fed and other central banks confusing market; ECB could cut rates further to negate negative shocks; NZD/USD faces strong technical resistance at 69c level
21st Mar 16, 8:35am
Mixed communication from Fed and other central banks confusing market; ECB could cut rates further to negate negative shocks; NZD/USD faces strong technical resistance at 69c level
Local bond markets follow US rates lower, with a flatter curve. Recent RBNZ rate cut has had no impact on inflation, so "why wouldn't it" cut again, soon?
18th Mar 16, 8:18am
Local bond markets follow US rates lower, with a flatter curve. Recent RBNZ rate cut has had no impact on inflation, so "why wouldn't it" cut again, soon?
The Fed is muddled and confused, fearful and timid says NAB's UK analyst; NZD rockets up to 0.6850; WTI crude hits $40 mark
18th Mar 16, 8:14am
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The Fed is muddled and confused, fearful and timid says NAB's UK analyst; NZD rockets up to 0.6850; WTI crude hits $40 mark
Fed officials only project 2 Fed hikes this year, down from 4; commodity currencies race higher, NZD/USD up 1.6%; UK Budget downgrades economic forecasts
17th Mar 16, 8:14am
Fed officials only project 2 Fed hikes this year, down from 4; commodity currencies race higher, NZD/USD up 1.6%; UK Budget downgrades economic forecasts
Fed indicates only two more rate hikes this year. The jump in the NZD raises chance of more OCR cuts. NZ bond yields follow US higher
17th Mar 16, 8:14am
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Fed indicates only two more rate hikes this year. The jump in the NZD raises chance of more OCR cuts. NZ bond yields follow US higher
GBP weaker as Brexit headlines gain attention; devil in the detail with Balance of Payments data; another weak dairy auction, contrary to analyst expectations
16th Mar 16, 8:19am
GBP weaker as Brexit headlines gain attention; devil in the detail with Balance of Payments data; another weak dairy auction, contrary to analyst expectations
Trader positioning driving NZD; US non-farm payroll data to determine direction of NZD in short-term; AUD continues strong run; GBP rallying from oversold territory
4th Mar 16, 8:10am
Trader positioning driving NZD; US non-farm payroll data to determine direction of NZD in short-term; AUD continues strong run; GBP rallying from oversold territory
Speculative positions anticipate deeper negative rates from the ECB and lower yields in the US. NZ rates curve steepened with rises at long end
4th Mar 16, 8:10am
Speculative positions anticipate deeper negative rates from the ECB and lower yields in the US. NZ rates curve steepened with rises at long end
Australian Q4 growth handily beats market expectations, boosting AUD. Fair-value reassessments see NZD fall and it may fall further
3rd Mar 16, 7:53am
Australian Q4 growth handily beats market expectations, boosting AUD. Fair-value reassessments see NZD fall and it may fall further
UST yields and European rates both turn higher and credit spreads turn lower as markets react to more positive data. Local yields follow higher, easing OCR rate cut bets
3rd Mar 16, 7:39am
UST yields and European rates both turn higher and credit spreads turn lower as markets react to more positive data. Local yields follow higher, easing OCR rate cut bets
Bottom in US manufacturing reached; risk back on the table as equities rise and Yen weakens; China PMI data continues to disappoint; RBA statement fails to move AUD
2nd Mar 16, 8:07am
Bottom in US manufacturing reached; risk back on the table as equities rise and Yen weakens; China PMI data continues to disappoint; RBA statement fails to move AUD
UST yields jump on stronger than expected US factory data. Markets believe Fed will hike, despite Dudley review. NZ wholesale rates should get support today
2nd Mar 16, 7:48am
UST yields jump on stronger than expected US factory data. Markets believe Fed will hike, despite Dudley review. NZ wholesale rates should get support today
10-year German Bund futures contract broke through the 0.0% threshold into negative yield territory for the first time ever last night. Expectations lower elsewhere too
1st Mar 16, 8:15am
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10-year German Bund futures contract broke through the 0.0% threshold into negative yield territory for the first time ever last night. Expectations lower elsewhere too
Eurozone CPI falls to fresh lows; EUR suffering spill-over effect from GBP weakness and expectations of additional ECB stimulus; expectations of further rate cuts by RBNZ fuelled by weaker data
1st Mar 16, 8:10am
Eurozone CPI falls to fresh lows; EUR suffering spill-over effect from GBP weakness and expectations of additional ECB stimulus; expectations of further rate cuts by RBNZ fuelled by weaker data
The NZD tries to escape its tight range with a bid higher, but stop loss triggers put it back in the cage. Strong US data a backdrop to an impotent G20 meeting
29th Feb 16, 7:56am
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The NZD tries to escape its tight range with a bid higher, but stop loss triggers put it back in the cage. Strong US data a backdrop to an impotent G20 meeting