Bonds
Fed speakers give the green light to a rate cut next month. Global equity markets rise. Eyes turn to Jackson Hole speakers
20th Aug 24, 7:35am
Fed speakers give the green light to a rate cut next month. Global equity markets rise. Eyes turn to Jackson Hole speakers
A review of things you need to know before you sign off on Monday; ANZ cuts hard, auction activity weak, PSI 'awful', population growth slows, swaps firmish, NZD stable, & more
19th Aug 24, 3:59pm
42
A review of things you need to know before you sign off on Monday; ANZ cuts hard, auction activity weak, PSI 'awful', population growth slows, swaps firmish, NZD stable, & more
Global asset markets subdued, but S&P500 rose for a seventh straight day, up +4% for the week. Gold rises to frest all-time high
19th Aug 24, 7:18am
Global asset markets subdued, but S&P500 rose for a seventh straight day, up +4% for the week. Gold rises to frest all-time high
A review of things you need to know before you sign off on Friday; more retail rate cuts, PMI 'dreadful', PPI rises but farm expenses fall, swaps still moving, NZD stable, & more
16th Aug 24, 3:59pm
92
A review of things you need to know before you sign off on Friday; more retail rate cuts, PMI 'dreadful', PPI rises but farm expenses fall, swaps still moving, NZD stable, & more
Stronger than expected US retail sales and jobless claims data helped dispel concerns about the US economic slowdown and sent equities and bond yields higher
16th Aug 24, 7:43am
6
Stronger than expected US retail sales and jobless claims data helped dispel concerns about the US economic slowdown and sent equities and bond yields higher
A review of things you need to know before you sign off on Thursday; stragglers cut, retail sales hold, food prices rise again, inflation expectations sticky, NZGBs popular, swaps down, NZD little-changed, & more
15th Aug 24, 3:59pm
87
A review of things you need to know before you sign off on Thursday; stragglers cut, retail sales hold, food prices rise again, inflation expectations sticky, NZGBs popular, swaps down, NZD little-changed, & more
The latest quarterly Household Expectations Survey for the Reserve Bank finds households still see inflation above the RBNZ's 1% to 3% target in two years' time, and they are less optimistic about chances of being able to get another job
15th Aug 24, 10:15am
51
The latest quarterly Household Expectations Survey for the Reserve Bank finds households still see inflation above the RBNZ's 1% to 3% target in two years' time, and they are less optimistic about chances of being able to get another job
Key US inflation data was in line with consensus estimates and had limited lasting market impact. NZD/USD was stable in offshore trade, following its 1% fall yesterday
15th Aug 24, 7:49am
Key US inflation data was in line with consensus estimates and had limited lasting market impact. NZD/USD was stable in offshore trade, following its 1% fall yesterday
A review of things you need to know before you sign off on Wednesday; RBNZ cuts, some banks follow quickly, RBNZ data shows recession, ASB profit falls, swaps slip, NZD retreats, & more
14th Aug 24, 3:59pm
90
A review of things you need to know before you sign off on Wednesday; RBNZ cuts, some banks follow quickly, RBNZ data shows recession, ASB profit falls, swaps slip, NZD retreats, & more
Reserve Bank starts long awaited interest rate cuts, and is forecasting further cuts before the end of the year. It also now sees annual inflation falling to just 2.3% by the end of this quarter
14th Aug 24, 2:11pm
289
Reserve Bank starts long awaited interest rate cuts, and is forecasting further cuts before the end of the year. It also now sees annual inflation falling to just 2.3% by the end of this quarter
A benign US PPI got the market’s attention and helped drive lower US rates, a lower USD and higher US equities. Against broad-based weakness in the USD, the NZD has outperformed
14th Aug 24, 7:45am
19
A benign US PPI got the market’s attention and helped drive lower US rates, a lower USD and higher US equities. Against broad-based weakness in the USD, the NZD has outperformed
A review of things you need to know before you sign off on Tuesday; a new low 1yr mortgage rate, house values retreat, more immigrants, more visitors, swaps stable, NZD firm, & more
13th Aug 24, 4:00pm
107
A review of things you need to know before you sign off on Tuesday; a new low 1yr mortgage rate, house values retreat, more immigrants, more visitors, swaps stable, NZD firm, & more
A quiet start to a busy week, with US equities flat, US Treasury yields slightly lower and modest changes in major currencies. The economic calendar picks up, with Australian wages data, UK labour market data and US PPI ahead
13th Aug 24, 7:46am
A quiet start to a busy week, with US equities flat, US Treasury yields slightly lower and modest changes in major currencies. The economic calendar picks up, with Australian wages data, UK labour market data and US PPI ahead
[updated]
A review of things you need to know before you sign off on Monday; no retail rate changes, new building work slows fast, Govt warned its water 'reform' carries big financial risks, grocery inflation slows, swaps stable, NZD stable, & more
12th Aug 24, 3:59pm
71
A review of things you need to know before you sign off on Monday; no retail rate changes, new building work slows fast, Govt warned its water 'reform' carries big financial risks, grocery inflation slows, swaps stable, NZD stable, & more
HSBC economist Paul Bloxham suggests the RBNZ's May Official Cash Rate guidance 'was not a genuine reflection of the central bank's reaction function'
12th Aug 24, 2:20pm
33
HSBC economist Paul Bloxham suggests the RBNZ's May Official Cash Rate guidance 'was not a genuine reflection of the central bank's reaction function'
Big week ahead, with RBNZ MPS and key global data, including the US CPI. US equity markets recovered on Friday with a modest gain while the US Treasuries curve flattened
12th Aug 24, 7:18am
Big week ahead, with RBNZ MPS and key global data, including the US CPI. US equity markets recovered on Friday with a modest gain while the US Treasuries curve flattened
David Hargreaves previews the forthcoming OCR review in which all attention revolves around whether the Reserve Bank will stick to its own script - or acquiesce to the urgings of financial markets for cuts, not so much now, as YESTERDAY, please
11th Aug 24, 6:30am
138
David Hargreaves previews the forthcoming OCR review in which all attention revolves around whether the Reserve Bank will stick to its own script - or acquiesce to the urgings of financial markets for cuts, not so much now, as YESTERDAY, please
A review of things you need to know before you sign off on Friday; many TD cuts, smaller houses, concrete pour rises, corruption penalised, expensive bank capital, swaps stable, NZD up, & more
9th Aug 24, 3:59pm
82
A review of things you need to know before you sign off on Friday; many TD cuts, smaller houses, concrete pour rises, corruption penalised, expensive bank capital, swaps stable, NZD up, & more
A larger than expected fall in US initial jobless claims allayed fears of a pending US recession, sending US equities much higher and US Treasury yields higher, with the 10-year rate returning to a 4% handle
9th Aug 24, 7:41am
A larger than expected fall in US initial jobless claims allayed fears of a pending US recession, sending US equities much higher and US Treasury yields higher, with the 10-year rate returning to a 4% handle
[updated]
A review of things you need to know before you sign off on Thursday; SBS Bank drops key rate, RBNZ survey very supportive for rate cut, card activity weak, strong NZGB demand, swaps lower, NZD stable, & more
8th Aug 24, 3:59pm
70
A review of things you need to know before you sign off on Thursday; SBS Bank drops key rate, RBNZ survey very supportive for rate cut, card activity weak, strong NZGB demand, swaps lower, NZD stable, & more
Risk appetite recover further, although risks remain and US equities gains have morphed into losses. US Treasury yields have pushed higher and the NZD has outperformed
8th Aug 24, 7:42am
Risk appetite recover further, although risks remain and US equities gains have morphed into losses. US Treasury yields have pushed higher and the NZD has outperformed
A review of things you need to know before you sign off on Wednesday; only small retail rate changes today, jobs data not as tough as expected, dairy prices hold, swap rates rise sharply, NZD rises too, & more
7th Aug 24, 3:59pm
85
A review of things you need to know before you sign off on Wednesday; only small retail rate changes today, jobs data not as tough as expected, dairy prices hold, swap rates rise sharply, NZD rises too, & more
Risk appetite returned, with global equities rebounding, UST yields higher, the yen falling and commodity currencies outperforming. A more hawkish than expected update by the RBA. Key NZ labour market data out today to show further deterioration
7th Aug 24, 7:50am
8
Risk appetite returned, with global equities rebounding, UST yields higher, the yen falling and commodity currencies outperforming. A more hawkish than expected update by the RBA. Key NZ labour market data out today to show further deterioration
[updated]
A review of things you need to know before you sign off on Tuesday; some big retail rate changes, auctions draw more bidders, long ban, eyes on HLFS and RBA, swaps stop falling, NZD holds, & more
6th Aug 24, 3:59pm
91
A review of things you need to know before you sign off on Tuesday; some big retail rate changes, auctions draw more bidders, long ban, eyes on HLFS and RBA, swaps stop falling, NZD holds, & more
Rising risk aversion dominates global markets. The VIX index reached a 4-year high. A recovery in the US services ISM helped assuage some concerns about the economic slowdown
6th Aug 24, 7:45am
1
Rising risk aversion dominates global markets. The VIX index reached a 4-year high. A recovery in the US services ISM helped assuage some concerns about the economic slowdown
