Here's my summary of the key issues from overnight that affect New Zealand, with news Japan is growing again.
But first, it's a public holiday on Wall Street today.
In China, stronger than expected bank lending in January in China, and a rise in money supply for a third straight month, confirms that stimulus measures are cushioning their economic slowdown.
Aggregate financing was 2.05 trillion yuan ($328 billion) in January, their central bank said, which matched estimates. Although shadow bank lending dropped from December, local-currency bank lending doubled from a month earlier.
In Europe, talks have started today in earnest over 'revising' the Greek loan/austerity deal but they have got off to a shaky start and that is keeping markets edgy this morning. Greek government officials are using colourful language signaling disdain for the EU's first suggestions and it is possible the EU could give as good as it is getting. And that could turn nasty quickly.
Japan's economy has rebounded from a mid-year recession in the final quarter of last year but growth was weaker than expected as household and corporate spending disappointed, underlining the challenge premier Shinzo Abe faces in shaking off decades of stagnation.
In Britain - but not elsewhere it seems - British banking giant HSBC has apologised for "past practices" at its Swiss private bank after it was accused of helping hundreds of clients to dodge taxes.
There was no trading in New York today because of their holiday. The UST 10yr yield is 2.05%, a one month high. Yesterday local swap rates rose about +3 bps across the curve.
The oil price is still at US$53/barrel with Brent crude up marginally at US$62/barrel.
Gold is also up marginally to US$1,231oz.
We start today with the New Zealand dollar more than holding its own against the US dollar at 75 USc. We are up even further against the Aussie to 96.6 AUc another post-float record, and the TWI is at 78.3.
If you want to catch up with all the changes yesterday we have an update here.
The easiest place to stay up with event risk is by following our Economic Calendar here »
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