Risk sentiment higher as investors see light at the end of the tunnel, even if uncertainty remains. NZ rates higher with further follow-through post the RBNZ hawkish-tinged update

RBNZ forecasts annual inflation will spike to 4.2% in the June quarter and warns medium-term inflationary pressure will depend on the extent to which higher costs influence price and wage-setting behaviour by firms and workers in the economy

The shifting sands of term deposit rate offers sees short rates rise above 3% with rises concentrated in the one year-plus terms, and very long rates at or over 5% again

Fewer New Zealand citizens are leaving long-term and more are returning after an extended absence

ANZ picks Reserve Bank to raise the OCR 3 times this year starting in July, but notes there's a high level of uncertainty

US to block Hormuz; US inflation rises, sentiment tumbles; China inflation modest; Taiwan exports high again; Hungary ousts Orban; IMF glum about 2026; UST 10yr at 4.32%; gold eases as oil holds high; NZ$1 = 58.4 USc; TWI-5 = 61.9

Natalia Albert argues Christopher Luxon won't survive as PM until the election, but it won’t matter because National will still win