Nick Smyth
Equity markets shrug off more US-China tensions. NZD underperforms, NZD/AUD makes fresh 6-month low. GBP under pressure on renewed Brexit concerns
18th May 20, 7:54am
Equity markets shrug off more US-China tensions. NZD underperforms, NZD/AUD makes fresh 6-month low. GBP under pressure on renewed Brexit concerns
Global equities finish last week strongly as markets look through 20.5 million US job loss. US rates increase on speculation the Fed will push back against negative rates
11th May 20, 7:50am
Global equities finish last week strongly as markets look through 20.5 million US job loss. US rates increase on speculation the Fed will push back against negative rates
RBNZ expected to double QE programme on Wednesday, but will it provide more forward guidance and signal it might - just maybe - cut the OCR before next year?
9th May 20, 12:22pm
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RBNZ expected to double QE programme on Wednesday, but will it provide more forward guidance and signal it might - just maybe - cut the OCR before next year?
US rates fall as Fed fund futures trade with (slightly) negative rates. Equity markets push higher. USD weakens, NZD up 1.2% overnight
8th May 20, 7:58am
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US rates fall as Fed fund futures trade with (slightly) negative rates. Equity markets push higher. USD weakens, NZD up 1.2% overnight
Tech sector leads US equities higher. Yield curves higher after steeper after US Treasury unveils more long-end issuance. Finance Minister Robertson to deliver pre-Budget address today
7th May 20, 7:59am
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Tech sector leads US equities higher. Yield curves higher after steeper after US Treasury unveils more long-end issuance. Finance Minister Robertson to deliver pre-Budget address today
Equities fall sharply on Friday. NZD and AUD fall over 1%. RBNZ keeps the foot on the throttle with QE. Another big fall in NZ interest rates
4th May 20, 8:24am
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Equities fall sharply on Friday. NZD and AUD fall over 1%. RBNZ keeps the foot on the throttle with QE. Another big fall in NZ interest rates
Sharp rise in equity markets after Gilead’s remdesivir drug shows positive trial results. Commodities, EM currencies, NZD and AUD bounce higher. Not much new from the Fed – global rates little changed
30th Apr 20, 7:58am
Sharp rise in equity markets after Gilead’s remdesivir drug shows positive trial results. Commodities, EM currencies, NZD and AUD bounce higher. Not much new from the Fed – global rates little changed
Equity markets push higher. NZD and (particularly) AUD outperform on positive risk sentiment. More volatility in the oil market, but little impact to other markets
28th Apr 20, 7:54am
Equity markets push higher. NZD and (particularly) AUD outperform on positive risk sentiment. More volatility in the oil market, but little impact to other markets
Equity markets, oil prices bounce back overnight. ECB says it will accept high-yield bonds as collateral in its operations. NZD/AUD reaches lowest level since mid-November
23rd Apr 20, 7:57am
Equity markets, oil prices bounce back overnight. ECB says it will accept high-yield bonds as collateral in its operations. NZD/AUD reaches lowest level since mid-November
Brian Fallow looks at where the Government is getting the money from for its dramatic increase in spending, concluding direct monetary financing is possible down the line
22nd Apr 20, 10:17am
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Brian Fallow looks at where the Government is getting the money from for its dramatic increase in spending, concluding direct monetary financing is possible down the line
WTI oil price trades below zero on oil glut and technical factors. But little ripple effect elsewhere – S&P500 -1.5% but bonds little changed. NZ plans to come off Covid Level 4 next Tuesday
21st Apr 20, 7:48am
WTI oil price trades below zero on oil glut and technical factors. But little ripple effect elsewhere – S&P500 -1.5% but bonds little changed. NZ plans to come off Covid Level 4 next Tuesday
Subdued moves overnight. Broad-based increase in the USD. NZD underperforms as Governor Orr says negative rates haven’t been ruled out in the future
17th Apr 20, 8:02am
Subdued moves overnight. Broad-based increase in the USD. NZD underperforms as Governor Orr says negative rates haven’t been ruled out in the future
Equity markets push higher. USD weakens as risk appetite continues to recover, but NZD underperforms. NZ government announces more fiscal assistance for businesses
15th Apr 20, 7:53am
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Equity markets push higher. USD weakens as risk appetite continues to recover, but NZD underperforms. NZ government announces more fiscal assistance for businesses
US equity markets rise strongly again. Oil spikes higher ahead of OPEC+ meeting tonight. Offshore bond yields head higher. RBNZ officials signal increase to QE program size, seem to push back on corporate purchases
9th Apr 20, 8:02am
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US equity markets rise strongly again. Oil spikes higher ahead of OPEC+ meeting tonight. Offshore bond yields head higher. RBNZ officials signal increase to QE program size, seem to push back on corporate purchases
RBNZ favours buying more government bonds over corporate bonds, should it expand its Large Scale Asset Purchase next month; Remains open to cutting the OCR next year
8th Apr 20, 7:04pm
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RBNZ favours buying more government bonds over corporate bonds, should it expand its Large Scale Asset Purchase next month; Remains open to cutting the OCR next year
Big rise in equities on optimism that containment measures will get lifted soon in Europe. Global rates and commodity currencies rise on improved sentiment. RBNZ buys LFGA bonds for the first time in small size
7th Apr 20, 7:43am
Big rise in equities on optimism that containment measures will get lifted soon in Europe. Global rates and commodity currencies rise on improved sentiment. RBNZ buys LFGA bonds for the first time in small size
RBNZ ups its efforts to ensure the debt market operates properly by extending its bond buying programme from central to local government
6th Apr 20, 2:48pm
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RBNZ ups its efforts to ensure the debt market operates properly by extending its bond buying programme from central to local government
Oil rockets more than 20% higher after Trump says OPEC+ to cut production by 10m-15m barrels per day boosting energy stocks and inflation expectations. US jobless claims hit 6.65 million. Further signs of life in offshore credit markets
3rd Apr 20, 7:50am
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Oil rockets more than 20% higher after Trump says OPEC+ to cut production by 10m-15m barrels per day boosting energy stocks and inflation expectations. US jobless claims hit 6.65 million. Further signs of life in offshore credit markets
Treasury expects to issue $25 bln of Government Bonds in June year; says it will collaborate with the RBNZ to ensure the market functions efficiently & yields remain low
1st Apr 20, 9:06am
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Treasury expects to issue $25 bln of Government Bonds in June year; says it will collaborate with the RBNZ to ensure the market functions efficiently & yields remain low
Market moves reasonably modest overnight (for a change). Trump proposes $2 trillion infrastructure package, Japan outlines big fiscal stimulus too
1st Apr 20, 7:50am
Market moves reasonably modest overnight (for a change). Trump proposes $2 trillion infrastructure package, Japan outlines big fiscal stimulus too
Finance Minister and RBNZ unwilling at this stage to link up directly to fund the fallout from COVID-19
31st Mar 20, 5:38pm
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Finance Minister and RBNZ unwilling at this stage to link up directly to fund the fallout from COVID-19
Equities, bond yields lower despite US $2 trillion fiscal stimulus package. Bank of Canada cuts -50bps, announces first QE program. USD weakens again
30th Mar 20, 7:55am
Equities, bond yields lower despite US $2 trillion fiscal stimulus package. Bank of Canada cuts -50bps, announces first QE program. USD weakens again
Markets show some tentative signs of stability. Central banks ramp up policy support. Fed sets up Money Market fund to ease funding strains, expands FX swap lines
20th Mar 20, 7:57am
Markets show some tentative signs of stability. Central banks ramp up policy support. Fed sets up Money Market fund to ease funding strains, expands FX swap lines
Equity markets lower, but bond yields higher again. NZGB market coming under stress. Another huge USD rally with the NZD down to 0.5750, Oil falls to its lowest level since 2003
19th Mar 20, 7:50am
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Equity markets lower, but bond yields higher again. NZGB market coming under stress. Another huge USD rally with the NZD down to 0.5750, Oil falls to its lowest level since 2003
Volatile markets continue – S&P500 rises 5%, US 10y higher as White House sets out big fiscal stimulus plans. Fed announces programme to buy commercial paper in a bid to help funding markets
18th Mar 20, 8:03am
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Volatile markets continue – S&P500 rises 5%, US 10y higher as White House sets out big fiscal stimulus plans. Fed announces programme to buy commercial paper in a bid to help funding markets