Bonds
The RBA cut rates by 25bp to 3.85% as expected and moved to a more dovish stance. The market priced additional easing and NZD/AUD gained. A weak government bond auction contributed to a surge in long end JGB yields
21st May 25, 7:55am
The RBA cut rates by 25bp to 3.85% as expected and moved to a more dovish stance. The market priced additional easing and NZD/AUD gained. A weak government bond auction contributed to a surge in long end JGB yields
Labour’s leadership is sending mixed messages about how closely it will follow the fiscal rules the party established during its last term in office
20th May 25, 4:52pm
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Labour’s leadership is sending mixed messages about how closely it will follow the fiscal rules the party established during its last term in office
A review of things you need to know before you sign off on Tuesday; Bank of China launches very low home loan rates, IT fraudsters named & sentenced, funded infrastructure pipeline expands, swaps stable, NZD firmer, & more
20th May 25, 4:00pm
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A review of things you need to know before you sign off on Tuesday; Bank of China launches very low home loan rates, IT fraudsters named & sentenced, funded infrastructure pipeline expands, swaps stable, NZD firmer, & more
Initial weak risk sentiment linked to the US credit rating downgrade reverses. US 30-year yields reached 5.04%, the highest level since late 2023, before retracing. US dollar broadly weaker
20th May 25, 7:46am
Initial weak risk sentiment linked to the US credit rating downgrade reverses. US 30-year yields reached 5.04%, the highest level since late 2023, before retracing. US dollar broadly weaker
A review of things you need to know before you sign off on Monday; no retail rate changes, service sector weaker, producer prices jump, big fraud case win for SFO/MSD, China data resilient, swaps steepen, NZD stable, & more
19th May 25, 3:59pm
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A review of things you need to know before you sign off on Monday; no retail rate changes, service sector weaker, producer prices jump, big fraud case win for SFO/MSD, China data resilient, swaps steepen, NZD stable, & more
US consumer sentiment falls to historical lows, inflation expectations shoot higher. Trump's tax bill fails early in the process, a rare event. Moody's downgrades US credit rating. NZ inflation expectations rise; domestic rates market underperforms
19th May 25, 7:24am
US consumer sentiment falls to historical lows, inflation expectations shoot higher. Trump's tax bill fails early in the process, a rare event. Moody's downgrades US credit rating. NZ inflation expectations rise; domestic rates market underperforms
A review of things you need to know before you sign off on Friday; no retail rate changes, heavy stock overhang, productivity worse again, PMI expands modestly, inflation expectations turn up, swaps stable, NZD eases, & more
16th May 25, 3:59pm
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A review of things you need to know before you sign off on Friday; no retail rate changes, heavy stock overhang, productivity worse again, PMI expands modestly, inflation expectations turn up, swaps stable, NZD eases, & more
In a heavy US data release day, activity and pricing indicators were weak, driving down US rates and supported US equities. The NZD and AUD underperform again
16th May 25, 7:53am
In a heavy US data release day, activity and pricing indicators were weak, driving down US rates and supported US equities. The NZD and AUD underperform again
A review of things you need to know before you sign off on Thursday; housing market in winter mode, food prices rise faster, rent pressure eases, NZGBs get demand rush, swaps stable, NZD lower, & more
15th May 25, 3:59pm
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A review of things you need to know before you sign off on Thursday; housing market in winter mode, food prices rise faster, rent pressure eases, NZGBs get demand rush, swaps stable, NZD lower, & more
US Treasury yields push higher as focus turns to the US fiscal outlook. US equities 'consolidate'. Despite talk, currency markets little-changed
15th May 25, 7:37am
US Treasury yields push higher as focus turns to the US fiscal outlook. US equities 'consolidate'. Despite talk, currency markets little-changed
A review of things you need to know before you sign off on Wednesday; a surprise floating rate cut, limp retail, low migration, softer tourism, dairy prices stay up, big SI projects planned, swaps flat, NZD recovers, & more
14th May 25, 3:59pm
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A review of things you need to know before you sign off on Wednesday; a surprise floating rate cut, limp retail, low migration, softer tourism, dairy prices stay up, big SI projects planned, swaps flat, NZD recovers, & more
US CPI report softer than expected, but rates market largely ignores it, with a focus on tariffs lifting future inflation; US Treasury yields push higher, with 10-year rate hitting 4.5%
14th May 25, 7:49am
US CPI report softer than expected, but rates market largely ignores it, with a focus on tariffs lifting future inflation; US Treasury yields push higher, with 10-year rate hitting 4.5%
[updated]
A review of things you need to know before you sign off on Tuesday; ICBC cuts home loan rates & BNZ trims TD rates, truckometer shows some signs, IRD has success collecting student loans, swaps firmer, NZD softer, & more
13th May 25, 4:01pm
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A review of things you need to know before you sign off on Tuesday; ICBC cuts home loan rates & BNZ trims TD rates, truckometer shows some signs, IRD has success collecting student loans, swaps firmer, NZD softer, & more
Significant de-escalation of the US-China trade war a better outcome than expected. Equity markets have soared. Global rates are much higher, USD rises strongly
13th May 25, 7:40am
Significant de-escalation of the US-China trade war a better outcome than expected. Equity markets have soared. Global rates are much higher, USD rises strongly
A review of things you need to know before you sign off on Monday; IRD wants its loans repaid, concrete production weak, commercial building 'sad', Summerset on bond merry-go-round, swaps firm, NZD firmish, & more
12th May 25, 3:59pm
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A review of things you need to know before you sign off on Monday; IRD wants its loans repaid, concrete production weak, commercial building 'sad', Summerset on bond merry-go-round, swaps firm, NZD firmish, & more