Swap rates
Markets baffled by odd yield tracking. UST yields slip, local swap rates drift up on very low volumes. Attention turns to QSBO, RBA and dairy auction
3rd Oct 17, 8:19am
Markets baffled by odd yield tracking. UST yields slip, local swap rates drift up on very low volumes. Attention turns to QSBO, RBA and dairy auction
NZ long end rates following global direction, short end rates ignoring RBNZ. Focus turns to action-packed data calendar
29th Sep 17, 8:14am
NZ long end rates following global direction, short end rates ignoring RBNZ. Focus turns to action-packed data calendar
RBNZ on sidelines, as new Acting Governor takes over. Local rates respond to international pressures, rising in steepening trend
28th Sep 17, 7:55am
RBNZ on sidelines, as new Acting Governor takes over. Local rates respond to international pressures, rising in steepening trend
UST yields a little higher. NZ rates following offshore trends. No election reaction in rates markets
27th Sep 17, 7:50am
UST yields a little higher. NZ rates following offshore trends. No election reaction in rates markets
North Korean headlines during New Zealand trading hours on Friday saw the UST 10 yr rate down 3 bps to 2.25%; this price action flowed through to local rates
25th Sep 17, 8:11am
North Korean headlines during New Zealand trading hours on Friday saw the UST 10 yr rate down 3 bps to 2.25%; this price action flowed through to local rates
UST rates traded a 2.24-2.28% range to currently sit flat at 2.27%; Australian rates lower after dovish speech from RBA's Lowe; NZ rates moves modest
22nd Sep 17, 8:08am
UST rates traded a 2.24-2.28% range to currently sit flat at 2.27%; Australian rates lower after dovish speech from RBA's Lowe; NZ rates moves modest
US Treasury yields are up around 4-5bps across the curve, with the 10-year rate up 4bps to 2.28%; the probability of the Fed hiking in December according to the Fed Fund curve has nudged up further to 60%; NZ rates continued to follow global rates higher
21st Sep 17, 8:07am
US Treasury yields are up around 4-5bps across the curve, with the 10-year rate up 4bps to 2.28%; the probability of the Fed hiking in December according to the Fed Fund curve has nudged up further to 60%; NZ rates continued to follow global rates higher
US focus on Fed dot plot. US Fed membership to get more hawish. NZ 10yr swap at 6 week high
20th Sep 17, 8:40am
US focus on Fed dot plot. US Fed membership to get more hawish. NZ 10yr swap at 6 week high
European rates set the tone, but focus turns to US Fed meeting decisions. Local eyes on Q2 GDP and election
18th Sep 17, 7:08am
European rates set the tone, but focus turns to US Fed meeting decisions. Local eyes on Q2 GDP and election
Austria sells century bond into huge demand. German and US 10yr rates rise sharply. Receiving interest strong in local markets
13th Sep 17, 8:35am
Austria sells century bond into huge demand. German and US 10yr rates rise sharply. Receiving interest strong in local markets
The local 2 yr swap rate was steady at 2.15% but the 10 yr fell 4 bps to 3.04%, a fresh low for the year; German rates were lower on a Reuters report on the latest ECB meeting, the effects of which also spilled over to the US Treasuries
11th Sep 17, 8:28am
The local 2 yr swap rate was steady at 2.15% but the 10 yr fell 4 bps to 3.04%, a fresh low for the year; German rates were lower on a Reuters report on the latest ECB meeting, the effects of which also spilled over to the US Treasuries
UST yields rise as debt ceiling showdown has been pushed out by a few months; local rates make fresh lows for the year, following global moves from the previous session
7th Sep 17, 8:01am
UST yields rise as debt ceiling showdown has been pushed out by a few months; local rates make fresh lows for the year, following global moves from the previous session
UST 10yr yield was flat at 2.13% after rising up to 2.15% during the Asian session; local rate curve was steeper and higher with the 2yr rate up 1bp and the 10yr up 3 bps
1st Sep 17, 8:06am
UST 10yr yield was flat at 2.13% after rising up to 2.15% during the Asian session; local rate curve was steeper and higher with the 2yr rate up 1bp and the 10yr up 3 bps
Eyes on US employment data, but S&P warns on US debt ceiling brinkmanship. Risk aversion eases. Local rates 'void of broad direction'
31st Aug 17, 8:21am
Eyes on US employment data, but S&P warns on US debt ceiling brinkmanship. Risk aversion eases. Local rates 'void of broad direction'
Markets fret about US debt ceiling, North Korea, US tax reform. And adopt a risk off view. Low long end yields continued recent NZ curve flattening
30th Aug 17, 8:08am
Markets fret about US debt ceiling, North Korea, US tax reform. And adopt a risk off view. Low long end yields continued recent NZ curve flattening
Markets await Trump tax plan, but assume he be equally ineffective as previous 'plans'. Other data should have larger impact
29th Aug 17, 8:05am
Markets await Trump tax plan, but assume he be equally ineffective as previous 'plans'. Other data should have larger impact
Another bank reduces its longer term deposit rates as wholesale rates trend lower. That leaves NZ's largest bank with a premium offer for these terms
25th Aug 17, 9:10am
5
Another bank reduces its longer term deposit rates as wholesale rates trend lower. That leaves NZ's largest bank with a premium offer for these terms
Northern summer recess punctuated by Jackson Hole meeting, but bond markets just drift. If Yellen channels Dudley, that may spark some life
25th Aug 17, 7:57am
Northern summer recess punctuated by Jackson Hole meeting, but bond markets just drift. If Yellen channels Dudley, that may spark some life
Risk off tone settles on markets. DMO program unchanged, but opportunity for new 2029 issue before election fades. Eyes turn to Jackson Hole speeches.
24th Aug 17, 7:50am
Risk off tone settles on markets. DMO program unchanged, but opportunity for new 2029 issue before election fades. Eyes turn to Jackson Hole speeches.
UST yields rise on improved risk appetite. Data and Jackson Hole take focus. Local swap rates little changed
23rd Aug 17, 8:21am
UST yields rise on improved risk appetite. Data and Jackson Hole take focus. Local swap rates little changed
UST 10yr yield down to 2.18%, down 2 bps from the NZ close; local swaps up 1 bp and local bond yields up 3-4 bps; quiet trading conditions expected through to the end of the week
22nd Aug 17, 8:01am
UST 10yr yield down to 2.18%, down 2 bps from the NZ close; local swaps up 1 bp and local bond yields up 3-4 bps; quiet trading conditions expected through to the end of the week
UST yields largely unchanged, helped by strong consumer sentiment data and removal of Trump's chief strategist Bannon; NZ swaps 1-2 bps lower across the curve, with global forces in the driving seat
21st Aug 17, 8:09am
UST yields largely unchanged, helped by strong consumer sentiment data and removal of Trump's chief strategist Bannon; NZ swaps 1-2 bps lower across the curve, with global forces in the driving seat
A risk-off tone in the markets saw the UST yield curve shift lower; the NZ swap curve showed a flattening bias, with larger falls at the longer end of the curve; NZGB 2025 bond tender showed only moderate demand
18th Aug 17, 8:19am
A risk-off tone in the markets saw the UST yield curve shift lower; the NZ swap curve showed a flattening bias, with larger falls at the longer end of the curve; NZGB 2025 bond tender showed only moderate demand
UST 2-year rate was down to 1.33% and 10-year down to 2.22% as FOMC minutes showed that several participants were ready to announce a starting date for shrinking the balance sheet; UST move likely to put downward pressure on local rates today
17th Aug 17, 8:28am
UST 2-year rate was down to 1.33% and 10-year down to 2.22% as FOMC minutes showed that several participants were ready to announce a starting date for shrinking the balance sheet; UST move likely to put downward pressure on local rates today
US rates rise on good retail sales, hawkish Fed comments, and easing tensions. NZ rates rise especially for NZGBs
16th Aug 17, 7:50am
US rates rise on good retail sales, hawkish Fed comments, and easing tensions. NZ rates rise especially for NZGBs