BNZ
GDP up an annualised 3.3% in Q4, PCE deflator at 1.5% and core PCE deflator at 2%. US Treasury market supported by the benign inflation backdrop, yields slightly lower. European rates and EUR lower. NZD flat just over 61 USc
26th Jan 24, 8:34am
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GDP up an annualised 3.3% in Q4, PCE deflator at 1.5% and core PCE deflator at 2%. US Treasury market supported by the benign inflation backdrop, yields slightly lower. European rates and EUR lower. NZD flat just over 61 USc
ASB moves both home loan and term deposit rates lower but only for the less popular longer terms. Still, they can claim a competitive three year home loan rate. But they can't claim unique term deposit offers
25th Jan 24, 9:48am
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ASB moves both home loan and term deposit rates lower but only for the less popular longer terms. Still, they can claim a competitive three year home loan rate. But they can't claim unique term deposit offers
US equities rise to fresh record high. China surprises with 50bps cut to RRR; Bank of Canada drops tightening bias; Global PMI data support the market. NZ inflation moderates
25th Jan 24, 8:11am
US equities rise to fresh record high. China surprises with 50bps cut to RRR; Bank of Canada drops tightening bias; Global PMI data support the market. NZ inflation moderates
Stocks in Hong Kong surged amid reports that Chinese authorities are considering a range of measures to help stabilise equity markets after a significant period of weakness. The US dollar extended its 2024 gains
24th Jan 24, 7:50am
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Stocks in Hong Kong surged amid reports that Chinese authorities are considering a range of measures to help stabilise equity markets after a significant period of weakness. The US dollar extended its 2024 gains
US equities continue their record-breaking run, a contrast with the slump in Chinese equities. Global rates push lower, US 10-year rate down slightly. No change expected from the BoJ later today
23rd Jan 24, 7:48am
US equities continue their record-breaking run, a contrast with the slump in Chinese equities. Global rates push lower, US 10-year rate down slightly. No change expected from the BoJ later today
The S&P500 reached a record high close underpinned by a strong performance by technology companies. US Fed speakers push back against near term rate cuts as the blackout period begins for the January FOMC
22nd Jan 24, 7:39am
The S&P500 reached a record high close underpinned by a strong performance by technology companies. US Fed speakers push back against near term rate cuts as the blackout period begins for the January FOMC
Economic data in the coming week is likely to show inflation is slowing. But the key thing will be whether the Reserve Bank is satisfied that the inflation beast really has been properly tamed - or whether we still have things to worry about
21st Jan 24, 6:00am
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Economic data in the coming week is likely to show inflation is slowing. But the key thing will be whether the Reserve Bank is satisfied that the inflation beast really has been properly tamed - or whether we still have things to worry about
US 10-year rate up to a fresh high for the year of 4.15%, driven by US initial jobless claims showing a surprising fall to a 16-month low. Global forces push up NZ rates, with a weak first bond tender of the year not helping NZGBs
19th Jan 24, 7:48am
US 10-year rate up to a fresh high for the year of 4.15%, driven by US initial jobless claims showing a surprising fall to a 16-month low. Global forces push up NZ rates, with a weak first bond tender of the year not helping NZGBs
The next bank to trim home loan rates is Westpac. Their adjustments take them into line with their main rivals. But they did make a +10 bps rise to their six month term deposit rate to a somewhat unique level
18th Jan 24, 6:17pm
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The next bank to trim home loan rates is Westpac. Their adjustments take them into line with their main rivals. But they did make a +10 bps rise to their six month term deposit rate to a somewhat unique level
Global equites fell and bond yields moved higher as investors trimmed expectations for rate cuts by major central banks. US retail sales were higher than consensus estimates. 2-year treasury yields increased 15bps supporting the US dollar
18th Jan 24, 8:01am
Global equites fell and bond yields moved higher as investors trimmed expectations for rate cuts by major central banks. US retail sales were higher than consensus estimates. 2-year treasury yields increased 15bps supporting the US dollar
Lift in US Treasury yields during Asian session extended overnight; rates up 10-13bps across the curve for the day. Fed Governor Waller argues that, when the timing is right, the Fed Funds rate should be "lowered mechanically and carefully"
17th Jan 24, 7:47am
Lift in US Treasury yields during Asian session extended overnight; rates up 10-13bps across the curve for the day. Fed Governor Waller argues that, when the timing is right, the Fed Funds rate should be "lowered mechanically and carefully"
The BNZ/SEEK Employment Report shows that the number of applications per job advertisement has now hit unprecedented levels
16th Jan 24, 11:03am
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The BNZ/SEEK Employment Report shows that the number of applications per job advertisement has now hit unprecedented levels
S&P500 futures down slightly and US Treasury futures consistent with a lift in the 10-year rate. Euro area economic data continue to underwhelm but ECB commentary shows reluctance to cut rates; German rates push higher
16th Jan 24, 7:54am
S&P500 futures down slightly and US Treasury futures consistent with a lift in the 10-year rate. Euro area economic data continue to underwhelm but ECB commentary shows reluctance to cut rates; German rates push higher
Both Kiwibank and TSB trim home loan rates to match the big Aussie banks. They also reduce some longer term deposit rates
15th Jan 24, 9:47am
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Both Kiwibank and TSB trim home loan rates to match the big Aussie banks. They also reduce some longer term deposit rates
Softer than expected US producer prices support rally in global bonds. US 2-year treasury yields reached the lowest level since May. Weak inflation pressures and subdued demand for credit support the case for lower policy rates in China
15th Jan 24, 7:46am
Softer than expected US producer prices support rally in global bonds. US 2-year treasury yields reached the lowest level since May. Weak inflation pressures and subdued demand for credit support the case for lower policy rates in China
The Co-operative Bank becomes the first mover on home loan and term deposit rates in 2024, even if most of its changes mirror those made by the majors at the end of last year
10th Jan 24, 2:49pm
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The Co-operative Bank becomes the first mover on home loan and term deposit rates in 2024, even if most of its changes mirror those made by the majors at the end of last year
We looked at all bank term deposit offers in every week for all of 2023 to find the bank consistently offering the highest rates. It was close between two aggressive challenger banks
3rd Jan 24, 3:00pm
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We looked at all bank term deposit offers in every week for all of 2023 to find the bank consistently offering the highest rates. It was close between two aggressive challenger banks
More pushback from Fed officials on market pricing for significantly easier monetary policy next year, but market shows little reaction in Fed Funds market; US Treasury yields push higher, led by long end; oil prices continue to recover
19th Dec 23, 7:51am
More pushback from Fed officials on market pricing for significantly easier monetary policy next year, but market shows little reaction in Fed Funds market; US Treasury yields push higher, led by long end; oil prices continue to recover
US policy makers push back against speculation of near-term rate cuts by the Fed. ‘We aren’t really talking about rate cuts right now’. European economic activity weak. German bund yields dropped to lowest level since January
18th Dec 23, 7:37am
US policy makers push back against speculation of near-term rate cuts by the Fed. ‘We aren’t really talking about rate cuts right now’. European economic activity weak. German bund yields dropped to lowest level since January
BNZ Head of Research Stephen Toplis on the NZ economy 'bouncing along the bottom' and what to expect in 2024
17th Dec 23, 7:00am
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BNZ Head of Research Stephen Toplis on the NZ economy 'bouncing along the bottom' and what to expect in 2024
Markets have extended the post-FOMC moves. US treasury yields and the US dollar have declined further. But both the ECB and BofE left rates on hold and sounded cautious on the outlook
15th Dec 23, 7:52am
Markets have extended the post-FOMC moves. US treasury yields and the US dollar have declined further. But both the ECB and BofE left rates on hold and sounded cautious on the outlook
Weaker than expected US PPI, UK GDP and euro area industrial production data supports extended bond market rally. Domestic rates tumbled yesterday, some attributed to weaker pricing indicators
14th Dec 23, 7:52am
Weaker than expected US PPI, UK GDP and euro area industrial production data supports extended bond market rally. Domestic rates tumbled yesterday, some attributed to weaker pricing indicators
Overall inflation direction encouraging but bank economists cautious about stubborn non-tradeable inflation
14th Dec 23, 7:40am
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Overall inflation direction encouraging but bank economists cautious about stubborn non-tradeable inflation
Mortgage brokers expect new government to have a positive impact on the housing market
13th Dec 23, 9:20am
Mortgage brokers expect new government to have a positive impact on the housing market
US core CPI up 4.0% y/y, in line with market expectations but not weak enough to encourage the market to price in any more easing next year
13th Dec 23, 7:57am
US core CPI up 4.0% y/y, in line with market expectations but not weak enough to encourage the market to price in any more easing next year