BNZ
Long-running survey records the worst ever non-Covid-affected level of activity for the services sector; 'This tells of a services sector in reverse at pace'
17th Jun 24, 12:11pm
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Long-running survey records the worst ever non-Covid-affected level of activity for the services sector; 'This tells of a services sector in reverse at pace'
A risk off tone dominated global markets into the end of last week as concern about the political crisis in France deepened. US consumer confidence weaker than expected. Global bond yields moved lower
17th Jun 24, 7:25am
A risk off tone dominated global markets into the end of last week as concern about the political crisis in France deepened. US consumer confidence weaker than expected. Global bond yields moved lower
It's a line ball call whether GDP figures out in the coming week will reveal the country still to be in recession or not. But whatever the outcome, economists don't see a particularly rosy path for the economy in the immediate future
16th Jun 24, 6:30am
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It's a line ball call whether GDP figures out in the coming week will reveal the country still to be in recession or not. But whatever the outcome, economists don't see a particularly rosy path for the economy in the immediate future
Much softer than expected US PPI data and a further increase in jobless claims supported US Treasuries, taking yields down 7-8bps across the curve. Concerns around France remain the focus. Some flight-to-safety evident
14th Jun 24, 7:52am
Much softer than expected US PPI data and a further increase in jobless claims supported US Treasuries, taking yields down 7-8bps across the curve. Concerns around France remain the focus. Some flight-to-safety evident
Gareth Vaughan suggests bank capital will again be a key area of debate as parliamentary select committees inquire about banking competition
14th Jun 24, 5:00am
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Gareth Vaughan suggests bank capital will again be a key area of debate as parliamentary select committees inquire about banking competition
The US Fed left rates on hold for a seventh straight meeting as was unanimously expected. Officials signaled they expect to cut rates by 25bps this year, down from 75bps at the March FOMC. US CPI data for May was softer than expected
13th Jun 24, 7:47am
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The US Fed left rates on hold for a seventh straight meeting as was unanimously expected. Officials signaled they expect to cut rates by 25bps this year, down from 75bps at the March FOMC. US CPI data for May was softer than expected
There has been more fallout from French President Macron’s decision to call early parliamentary elections, with a flight to quality within European assets. US rates have pushed lower ahead of the key US CPI report
12th Jun 24, 7:56am
There has been more fallout from French President Macron’s decision to call early parliamentary elections, with a flight to quality within European assets. US rates have pushed lower ahead of the key US CPI report
The outcome of European Parliament elections has been the key driver of markets. Elsewhere, markets holding until US CPI data and the Fed’s policy updates later in the week
11th Jun 24, 7:44am
The outcome of European Parliament elections has been the key driver of markets. Elsewhere, markets holding until US CPI data and the Fed’s policy updates later in the week
David Chaston investigates what the best home loan rate and term choice might be for borrowers needing to refix soon
10th Jun 24, 2:07pm
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David Chaston investigates what the best home loan rate and term choice might be for borrowers needing to refix soon
An upside surprise to US nonfarm payrolls and strong wage growth pushed global bond yields sharply higher. The USD made broad gains. Markets trimmed expectations for Fed easing, pushing back a cut to December
10th Jun 24, 7:22am
An upside surprise to US nonfarm payrolls and strong wage growth pushed global bond yields sharply higher. The USD made broad gains. Markets trimmed expectations for Fed easing, pushing back a cut to December
NZ's rural lenders acting as 'pseudo-regulators' through their membership of the Net-Zero Banking Alliance, Federated Farmers argues. ANZ hits back
8th Jun 24, 9:00am
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NZ's rural lenders acting as 'pseudo-regulators' through their membership of the Net-Zero Banking Alliance, Federated Farmers argues. ANZ hits back
Net market movements have been mostly small, with signs of consolidation across equities, bonds and currencies. European rates are slightly higher after the ECB’s “hawkish cut” and US Treasury yields are little changed
7th Jun 24, 7:47am
Net market movements have been mostly small, with signs of consolidation across equities, bonds and currencies. European rates are slightly higher after the ECB’s “hawkish cut” and US Treasury yields are little changed
Buoyant investor risk sentiment underpinned global equities with the S&P up nearly 1% and retesting its record high. US service ISM rebounds strongly from contractionary levels in April. The Bank of Canada cut rates by 25bps
6th Jun 24, 7:59am
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Buoyant investor risk sentiment underpinned global equities with the S&P up nearly 1% and retesting its record high. US service ISM rebounds strongly from contractionary levels in April. The Bank of Canada cut rates by 25bps
US Treasury yields fell for a fourth successive day, seeing the 10-year rate down towards 4.3%, supported by safe-haven flows after some surprising emerging market election results, lower oil prices, and softer US labour market data
5th Jun 24, 7:36am
US Treasury yields fell for a fourth successive day, seeing the 10-year rate down towards 4.3%, supported by safe-haven flows after some surprising emerging market election results, lower oil prices, and softer US labour market data
Weaker than expected US manufacturing ISM data contributed to a rally in US treasuries and a weaker US dollar. Oil prices fell sharply after OPEC+ announced plans to phase out its production cutbacks
4th Jun 24, 7:32am
Weaker than expected US manufacturing ISM data contributed to a rally in US treasuries and a weaker US dollar. Oil prices fell sharply after OPEC+ announced plans to phase out its production cutbacks
Three up, two down in terms of whether the five major rural lenders are growing or shrinking agriculture lending
1st Jun 24, 9:41am
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Three up, two down in terms of whether the five major rural lenders are growing or shrinking agriculture lending
Loyalty scheme Flybuys & parent company Loyalty NZ to close citing a changed landscape for loyalty programmes
31st May 24, 9:55am
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Loyalty scheme Flybuys & parent company Loyalty NZ to close citing a changed landscape for loyalty programmes
US Treasury yields reversed course after their rise this week, encouraged by weaker data releases overnight. The 10-year rate is down 7bps to 4.54% with a slightly flatter curve
31st May 24, 7:43am
US Treasury yields reversed course after their rise this week, encouraged by weaker data releases overnight. The 10-year rate is down 7bps to 4.54% with a slightly flatter curve
Nicola Willis delivered on most of her promises but faces extremely tight budgets for years to come
31st May 24, 6:36am
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Nicola Willis delivered on most of her promises but faces extremely tight budgets for years to come
A continued move higher in global bond yields and tepid demand for US treasury supply weighed on investor risk appetite. Global equities fell with European indices close to 1% weaker
30th May 24, 7:50am
A continued move higher in global bond yields and tepid demand for US treasury supply weighed on investor risk appetite. Global equities fell with European indices close to 1% weaker
New Zealand's biggest bank produces eye watering quarterly profit
A surprise jump in US consumer confidence and weak demand for US Treasuries at the 2 and 5-year auctions drove up US rates, the 10-year rate rising over 7bps. The USD rose
29th May 24, 7:43am
A surprise jump in US consumer confidence and weak demand for US Treasuries at the 2 and 5-year auctions drove up US rates, the 10-year rate rising over 7bps. The USD rose
Big four banks' combined interim dividends rise 40%, suggesting comfort with need to meet increased regulatory capital requirements
28th May 24, 9:31am
Big four banks' combined interim dividends rise 40%, suggesting comfort with need to meet increased regulatory capital requirements
US & UK holidays tone down markets. Some dovish comments from key ECB members pushed down European yields; US equity futures are slightly higher, and US 10-year Treasury futures are little changed
28th May 24, 7:39am
US & UK holidays tone down markets. Some dovish comments from key ECB members pushed down European yields; US equity futures are slightly higher, and US 10-year Treasury futures are little changed
With open banking threatening to finally gather some pace in New Zealand, Worldline with Online EFTPOS has been one of the early movers
27th May 24, 12:33pm
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With open banking threatening to finally gather some pace in New Zealand, Worldline with Online EFTPOS has been one of the early movers