Bonds
US equities rise to fresh record high. China surprises with 50bps cut to RRR; Bank of Canada drops tightening bias; Global PMI data support the market. NZ inflation moderates
25th Jan 24, 8:11am
US equities rise to fresh record high. China surprises with 50bps cut to RRR; Bank of Canada drops tightening bias; Global PMI data support the market. NZ inflation moderates
A review of things you need to know before you sign off on Wednesday; inflation falls but still high, real estate agent commissions at 4yr low, credit card use withers, swaps up, NZD forms, & more
24th Jan 24, 3:59pm
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A review of things you need to know before you sign off on Wednesday; inflation falls but still high, real estate agent commissions at 4yr low, credit card use withers, swaps up, NZD forms, & more
Stocks in Hong Kong surged amid reports that Chinese authorities are considering a range of measures to help stabilise equity markets after a significant period of weakness. The US dollar extended its 2024 gains
24th Jan 24, 7:50am
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Stocks in Hong Kong surged amid reports that Chinese authorities are considering a range of measures to help stabilise equity markets after a significant period of weakness. The US dollar extended its 2024 gains
A review of things you need to know before you sign off on Tuesday; Service sector slips into contraction, DTIs coming, Fitch pares some ratings, farmer spending plans on hold, swaps unchanged, NZD falls, & more
23rd Jan 24, 3:59pm
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A review of things you need to know before you sign off on Tuesday; Service sector slips into contraction, DTIs coming, Fitch pares some ratings, farmer spending plans on hold, swaps unchanged, NZD falls, & more
US equities continue their record-breaking run, a contrast with the slump in Chinese equities. Global rates push lower, US 10-year rate down slightly. No change expected from the BoJ later today
23rd Jan 24, 7:48am
US equities continue their record-breaking run, a contrast with the slump in Chinese equities. Global rates push lower, US 10-year rate down slightly. No change expected from the BoJ later today
A review of things you need to know before you sign off on Monday; Auckland house stock expands, yuan defended, nickel & lithium under pressure, swaps stable, NZD firms, & more
22nd Jan 24, 3:59pm
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A review of things you need to know before you sign off on Monday; Auckland house stock expands, yuan defended, nickel & lithium under pressure, swaps stable, NZD firms, & more
The S&P500 reached a record high close underpinned by a strong performance by technology companies. US Fed speakers push back against near term rate cuts as the blackout period begins for the January FOMC
22nd Jan 24, 7:39am
The S&P500 reached a record high close underpinned by a strong performance by technology companies. US Fed speakers push back against near term rate cuts as the blackout period begins for the January FOMC
A review of things you need to know before you sign off on Friday; more retail rate changes, ugly PMI, spotty tourism, surging immigration, IMF reports on Australia, swaps up, NZD down, & more
19th Jan 24, 3:59pm
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A review of things you need to know before you sign off on Friday; more retail rate changes, ugly PMI, spotty tourism, surging immigration, IMF reports on Australia, swaps up, NZD down, & more
US 10-year rate up to a fresh high for the year of 4.15%, driven by US initial jobless claims showing a surprising fall to a 16-month low. Global forces push up NZ rates, with a weak first bond tender of the year not helping NZGBs
19th Jan 24, 7:48am
US 10-year rate up to a fresh high for the year of 4.15%, driven by US initial jobless claims showing a surprising fall to a 16-month low. Global forces push up NZ rates, with a weak first bond tender of the year not helping NZGBs
A review of things you need to know before you sign off on Thursday; REINZ December data soft, Truckometer shows weakness, inflation components stay up, benefits little-changed, swaps up, NZD lower, & more
18th Jan 24, 3:59pm
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A review of things you need to know before you sign off on Thursday; REINZ December data soft, Truckometer shows weakness, inflation components stay up, benefits little-changed, swaps up, NZD lower, & more
Global equites fell and bond yields moved higher as investors trimmed expectations for rate cuts by major central banks. US retail sales were higher than consensus estimates. 2-year treasury yields increased 15bps supporting the US dollar
18th Jan 24, 8:01am
Global equites fell and bond yields moved higher as investors trimmed expectations for rate cuts by major central banks. US retail sales were higher than consensus estimates. 2-year treasury yields increased 15bps supporting the US dollar
A review of things you need to know before you sign off on Wednesday; some credit card rates rise, a work visa rush, weak retail, dairy prices up, house prices down, swaps on hold, NZD soft, & more
17th Jan 24, 3:59pm
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A review of things you need to know before you sign off on Wednesday; some credit card rates rise, a work visa rush, weak retail, dairy prices up, house prices down, swaps on hold, NZD soft, & more
Lift in US Treasury yields during Asian session extended overnight; rates up 10-13bps across the curve for the day. Fed Governor Waller argues that, when the timing is right, the Fed Funds rate should be "lowered mechanically and carefully"
17th Jan 24, 7:47am
Lift in US Treasury yields during Asian session extended overnight; rates up 10-13bps across the curve for the day. Fed Governor Waller argues that, when the timing is right, the Fed Funds rate should be "lowered mechanically and carefully"
A review of things you need to know before you sign off on Tuesday; rate watch for cuts, QSBO picks up, job ads tumble, settlement balances rise as do the costs, swaps firm, NZD soft, & more
16th Jan 24, 3:59pm
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A review of things you need to know before you sign off on Tuesday; rate watch for cuts, QSBO picks up, job ads tumble, settlement balances rise as do the costs, swaps firm, NZD soft, & more
S&P500 futures down slightly and US Treasury futures consistent with a lift in the 10-year rate. Euro area economic data continue to underwhelm but ECB commentary shows reluctance to cut rates; German rates push higher
16th Jan 24, 7:54am
S&P500 futures down slightly and US Treasury futures consistent with a lift in the 10-year rate. Euro area economic data continue to underwhelm but ECB commentary shows reluctance to cut rates; German rates push higher
A review of things you need to know before you sign off on Monday; both home loan and term deposit rates slip, grocery price pressure eases, markets price in -1% 2024 OCR cuts, swaps on hold, NZD soft, & more
15th Jan 24, 4:00pm
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A review of things you need to know before you sign off on Monday; both home loan and term deposit rates slip, grocery price pressure eases, markets price in -1% 2024 OCR cuts, swaps on hold, NZD soft, & more
Softer than expected US producer prices support rally in global bonds. US 2-year treasury yields reached the lowest level since May. Weak inflation pressures and subdued demand for credit support the case for lower policy rates in China
15th Jan 24, 7:46am
Softer than expected US producer prices support rally in global bonds. US 2-year treasury yields reached the lowest level since May. Weak inflation pressures and subdued demand for credit support the case for lower policy rates in China
A review of things you need to know before you sign off on Wednesday; ANZ trims rates, consumer sentiment up, dairy prices rise, NZX50 changeout, ASB culls fees, swaps stable, NZD firm, & more
20th Dec 23, 4:04pm
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A review of things you need to know before you sign off on Wednesday; ANZ trims rates, consumer sentiment up, dairy prices rise, NZX50 changeout, ASB culls fees, swaps stable, NZD firm, & more
A review of things you need to know before you sign off on Tuesday; varied views of the housing market, firms prepare higher prices for 2024, trade shrinks in November, swaps on hold, NZD on hold, & more
19th Dec 23, 3:59pm
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A review of things you need to know before you sign off on Tuesday; varied views of the housing market, firms prepare higher prices for 2024, trade shrinks in November, swaps on hold, NZD on hold, & more
More pushback from Fed officials on market pricing for significantly easier monetary policy next year, but market shows little reaction in Fed Funds market; US Treasury yields push higher, led by long end; oil prices continue to recover
19th Dec 23, 7:51am
More pushback from Fed officials on market pricing for significantly easier monetary policy next year, but market shows little reaction in Fed Funds market; US Treasury yields push higher, led by long end; oil prices continue to recover
A review of things you need to know before you sign off on Monday; record house building, improved sentiment, PSI rises in south, banks & farmers fall out, swaps hold, NZD holds, & more
18th Dec 23, 3:59pm
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A review of things you need to know before you sign off on Monday; record house building, improved sentiment, PSI rises in south, banks & farmers fall out, swaps hold, NZD holds, & more
US policy makers push back against speculation of near-term rate cuts by the Fed. ‘We aren’t really talking about rate cuts right now’. European economic activity weak. German bund yields dropped to lowest level since January
18th Dec 23, 7:37am
US policy makers push back against speculation of near-term rate cuts by the Fed. ‘We aren’t really talking about rate cuts right now’. European economic activity weak. German bund yields dropped to lowest level since January
A review of things you need to know before you sign off on Friday; Rabo tweaks some TD rate higher, immigrants with work visas surge, glimmers in holiday retail, swaps hold sharply lower, NZD slips, & more
15th Dec 23, 3:59pm
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A review of things you need to know before you sign off on Friday; Rabo tweaks some TD rate higher, immigrants with work visas surge, glimmers in holiday retail, swaps hold sharply lower, NZD slips, & more
Markets have extended the post-FOMC moves. US treasury yields and the US dollar have declined further. But both the ECB and BofE left rates on hold and sounded cautious on the outlook
15th Dec 23, 7:52am
Markets have extended the post-FOMC moves. US treasury yields and the US dollar have declined further. But both the ECB and BofE left rates on hold and sounded cautious on the outlook
A review of things you need to know before you sign off on Thursday; NZ GDP crumbles, more for milk, more milksolids, farmer sentiment rises, NZGB bonds in high demand, wholesale benchmark rates dive, NZD up, & more
14th Dec 23, 3:59pm
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A review of things you need to know before you sign off on Thursday; NZ GDP crumbles, more for milk, more milksolids, farmer sentiment rises, NZGB bonds in high demand, wholesale benchmark rates dive, NZD up, & more