Wall Street turns sharply risk-off despite rising US economic expansion; Japan get inflation; Germany wants immigrants; RBA ready to tackle inflation; UST 10yr 1.76%; oil and gold lower; NZ$1 = 67.3 USc; TWI-5 = 71.6

In Australia, some key analysts are now saying that the RBA will abandon its current no-rate-change settings much sooner than anticipated, with rate rises to start in 2022.

Well that didn't take long. What happened to the idea of central banks maintaining credibility?

Strategist says Federal Reserve in the 'worst' position he's ever seen by their own doing

https://youtu.be/91cspziEOkE

Who is responsible for the current mess in stock and housing market ????

Not Covid19 BUT Reserve Bank for their reckless policy of LEAST REGRET for two years and even now are not as proactive as they were to support and promote ponzi. Fed announced in November/December that may take U turn  than after a month or two will confirm and finally after four to six months (March) will act, whereas earlier was overnight.

In March 2022, they acted in haste to repent at leisure........has started.

Should have an investigation into how homes.co.nz and/or similar agencies were allowed to manipulate house estimate to pump/fix  house prices as many FHB fall for it as real estate agent used it as a tool to suit and influence innocent FHB.

https://i.stuff.co.nz/business/127537672/homesconz-criticised-for-allow…

Is their no accountability !

British Medical Journal lets it rip. Given the quad vaxxed Israel experience it would be interesting to see the data - given our economies and healthcare systems depend on it.

"Editorials Covid-19 vaccines and treatments: we must have raw data, now

...Big pharma is the least trusted industry.30 At least three of the many companies making covid-19 vaccines have past criminal and civil settlements costing them billions of dollars.31 One pleaded guilty to fraud.31 Other companies have no pre-covid track record. Now the covid pandemic has minted many new pharma billionaires, and vaccine manufacturers have reported tens of billions in revenue.32

The BMJ supports vaccination policies based on sound evidence. As the global vaccine rollout continues, it cannot be justifiable or in the best interests of patients and the public that we are left to just trust “in the system,” with the distant hope that the underlying data may become available for independent scrutiny at some point in the future. The same applies to treatments for covid-19.

...In the pages of The BMJ a decade ago, in the middle of a different pandemic, it came to light that governments around the world had spent billions stockpiling antivirals for influenza that had not been shown to reduce the risk of complications, hospital admissions, or death. The majority of trials that underpinned regulatory approval and government stockpiling of oseltamivir (Tamiflu) were sponsored by the manufacturer; most were unpublished, those that were published were ghostwritten by writers paid by the manufacturer, the people listed as principal authors lacked access to the raw data, and academics who requested access to the data for independent analysis were denied.1234"

https://www.bmj.com/content/376/bmj.o102

All the Ozzy covid numbers going down fast , its pretty much all over here folks.

Well except for NZ & WA.

I do agree with Jacinda you need to spread the peak over several weeks.

To keep NZ very poor Health system afloat . Shame a few nurses were

refused entry , but she got the wiggles in . There is no escaping Omi we will all get it .

The main problem will be staff shortages every where during those peak weeks.

Yes there will be several hundred deaths , mostly old and died with covid .

l Betcha a lot more people over the last 2 years + this coming one have suffered

& died because of cancelled surgerys & other treatments than covid .

Happy weekend fellow kiwis , you are nearly at the end .

Wall Street is falling today, buffeted by a range of forces that include some weak earnings reports. Investors are punishing tech stocks that aren't profitable.

Jay Powell and Christine Lagarde rush to hike short-term interest rates because their econometric models which don’t model money (they can’t) have modeled consumers acclimatizing to recent CPI rates by virtue of nothing more than assumptions about public feelings without regard to these other facts and factors.

While the Fed and ECB do that, their Chinese counterparts are going in the reverse direction. The PBOC cut its RRR, required rate of reserves, for the second time last year in December (in response to expected tight global money conditions), as well as dropping its Loan Prime Rate (LPR) for the first time since 2020.

Then, earlier this week, the PBOC acted again with another cut to the LPR to go along with a reduction in interbank RMB financing at medium terms (what they call the MLF). Sparked by weakening economic data as well as majorly sour anecdotes across China, it’s become much more difficult to benignly blame pollution controls and the spread of various coronavirus variants. Link

‘Bitcoin is also being punished and has lost more than -US$1 tln in capitalisation.’

 

I think you mean crypto currencies have lost more than $1T.

In Germany, their new coalition government wants to attract 400,000 qualified worker immigrants per year to tackle both a demographic imbalance and labour shortages...

They're not alone, across the world the pandemic accelerated existing demographic trends. [Link] English speaking countries are a long way behind other OECD countries, like Germany, simply because they attract more migrant workers. Low birthrates are a problem that compounds every 25-30 years of course.

Either way the era of cheap, abundant labour is concluding.

I wonder how long it will be before the North Island is completely red. Hoping for rain on Tuesday.

Yes, the money-shakes have started. Detox has begun. Whatever happens, just keep breathing in long slow & even motions.

Been very disappointed in Germany's leadership over the past decade. Getting rid of their nukes was Merkel's major mistake. Not too many earthquakes in Northern Europe from memory. Now they'll have Shootin Putin in their faces wanting who knows what.

Chinese rates decline while Western rates increase. Mmm. Different cycles? Or different parts of the same cycle? A split tack is always a high risk manoeuvre. The winning or losing of this part of the game (chapter) is now taking place.

Interest.co (and MSM's) reporting of covid case numbers is becoming tiresome David. It is so last year's media-speak looking for eyeballs. It really comes down to our hospital capabilities, or not. I know that ours aren't in great shape to begin with, but covid hospitalisations are key number with bed availability percentages close behind. Perhaps interest.co might consider leading this discussion.

And finally, not too many CB supporters commenting on their brilliant banking industry abilities today. In NZ they've lost most of their 2nd tier leaders so no surprises here I 'spose. Follow the Jay leader & control the narrative - as the socialists say.