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Articles by Bnzeconomists

NZ swaps and bonds down 2-5bps

RBA increasingly concerned about Aussie house price spike; observers not expecting changed Fed wording

'As good as it gets'

GDT auction relief and NZD benefits, also from a declining USD ahead of US Fed announcements and expected strong BOP data

NZD gains against the GBP

OECD calls on the ECB to do more to stimulate the beleaguered region, including large-scale bond purchases

'Markets ahead of itself'

US data sends confusing signals, now prefering to await the US Fed decision

NZD-AUD extends its recent rebound

Kiwi may gain further against the Aussie as disappointing Chinese data is absorbed. USD pricing  now assumes continuing economy momentum

'The RBNZ can afford to wait'

Solid US data helped nudge US long-yields higher. As US 10-year yields rose from 2.56% to 2.61% the US curve steepened

Wheeler's 'vitriol' against NZD strength

Australian data credibility doubted, the AUD becoming the "whipping boy" in international markets. BNZ sees more USD strength and NZD/AUD at 0.91 by year-end

NZ swaps down 4-6 bps

Despite purposefully vague 90 day track guidance, the RBNZ has "maintained a clear tightening bias" says BNZ

Currency markets jittery

Markets not ready for any RBNZ surprises; AUD under pressure; as US and Europe diverge, expect volatility

NZ yields rising

Bond and swap yields pushed higher yesterday, followed by further rises in US yields overnight; all eyes on RBNZ

Another day, another lurch higher for the USD

AUD more vulnerable than NZD against the USD, BNZ sees a bounce above 0.90 in the near-term

Curve steepening

Local markets await RBNZ; UST 10yr yields rise on immediate supply issues

Risk of a quick move down by the NZD

Markets expect a dovish RBNZ; resistance levels under threat if that is not delivered

Markets wary ahead of MPS

Local markets await RBNZ; UST 10yr yields rise on immediate supply issues

Political risk alive

Markets eyeing two votes, BNZ sees +4.2% pa Q2 NZGDP, RBNZ tone to be closely watched

Pause bets rise

Extended OCR pause expected now; bond rate cues to come mainly from offshore; risks favour lower track

ECB takes a swathe of easing measures

NZD ignored; market attention all on the euro. Even strong US services sector data gets little notice

Holding their ground

Long-end of the NZ interest rate curve drifts higher, US rates rise, European bond yileds also edge higher

NZD saved by a strong AUD rally

Despite Stevens housing comments, collapse in iron ore prices likely to weigh more on markets in the long run. BNZ sees NZD back at 91c by year end

Rate curve steepens

Poor dairy result bolsters RBNZ 'hold' position, holds short rates down