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Articles by Bnzeconomists

Disappointing US data

NZD makes gains against the AUD as markets bet RBA will cut rates; eyes now on NZ trade balance which might be larger than expected

Yields sink further

Mixed data out of the US sees the slump in US yields extended, the NZ 2-10 curve back at 50 bps on local flattening

The NZD weaker on most crosses

Global risk appetite 'healthy', EUR and JPY strengthen, AU building activity probably declined

Sinking yields

Boost from surprise US Q3 strength not sustained as latest consumer confidence reading underwhelms

NZD/USD trends lower

ECB tones back the urgency rhetoric, European currencies stronger, eyes on NZ Q4 inflation expectations

NZ long govt bonds look attractive

German business confidence shows surprising gain, US services confidence high but sagging, NZ swaps basically unchanged

ECB and PBoC spark fx markets into life

Stimulus promise and rate cuts in Europe and China shift the NZD higher; today eyes are on the latest migration data

The NZ 2-10s swap curve "remarkably flat"

NZ borrowers can expect low short end swaps until well into 2015; Draghi wants to raise inflation expectations 'as fast as possible'

Volatility in US treasuries

US treasury yields flicking up and down on data; Federal Reserve acknowledges downside risks to global growth and substantial improvement to domestic US labour market

USD volatility data driven

China's economic growth balanced on a knife edge; Eurozone PMI data a blow to hopes of a recovery into year-end; conflicting US data sees USD spike, slump, then recover

NZD suffers negative sentiment

AUD 'worst' performing currency overnight, dragging Kiwi with it; eyes on Fed minutes, NZ PPI

German and US yields push higher

NZ swap curve steepens; Fitch raises LGFA ratings outlook, markets await Fed minutes

Chunky moves on most crosses

Dairy auction results halt the NZD's upward track; USD weaker, euro stronger, yen likes snap election call, Aussies expect further falls

NZ 2yr swaps below fair value

BNZ expects the rate curve to steepen through 2015. Disappointing GDT auction result will keep markets subdued

NZD stronger on most of the crosses

Currency markets focused on the recession in Japan, and the ECB's signal that buying sovereign bonds is now a real option

NZ yields drift lower

Draghi confirms buying sovereign bonds an option for the ECB, Japan's new recession weights on markets, US 10-year yields push up

NZD higher

Gains against the USD, Yen and GBP as those currencies all weakened; but these trends lack conviction

NZ yields will steepen

Services sector strength expected to be confirmed but growth not breeding infation yet

NZD up despite China

Expanding local factory sector bullish on jobs, underpins rise in NZD. Gains strong vs JPY and GBP

NZ swap rates higher

A more hawkish RBNZ and a confident Fonterra underpin a local rise in swap and bond yields; offshore yields drifted