NZ$
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
A review of things you need to know before you sign off on Thursday; NZ GDP crumbles, more for milk, more milksolids, farmer sentiment rises, NZGB bonds in high demand, wholesale benchmark rates dive, NZD up, & more
14th Dec 23, 3:59pm
80
A review of things you need to know before you sign off on Thursday; NZ GDP crumbles, more for milk, more milksolids, farmer sentiment rises, NZGB bonds in high demand, wholesale benchmark rates dive, NZD up, & more
New Zealand's economy has been slowing faster than forecasters expected
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
[updated]
A review of things you need to know before you sign off on Wednesday; no retail rate changes, house sales low, food prices high, C/A narrows sightly, employers eye cutbacks, swaps & NZD on hold, & more
13th Dec 23, 4:00pm
98
A review of things you need to know before you sign off on Wednesday; no retail rate changes, house sales low, food prices high, C/A narrows sightly, employers eye cutbacks, swaps & NZD on hold, & more
[updated]
New Zealand’s trade deficit declined $600 million the in year ended September
13th Dec 23, 11:29am
31
New Zealand’s trade deficit declined $600 million the in year ended September
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
A review of things you need to know before you sign off on Tuesday; immigrants rush in, retail volumes shrink, tourism recovery eases, still 11,000+ storm claims to be resolved, swaps hold, NZD rises, & more
12th Dec 23, 4:00pm
16
A review of things you need to know before you sign off on Tuesday; immigrants rush in, retail volumes shrink, tourism recovery eases, still 11,000+ storm claims to be resolved, swaps hold, NZD rises, & more
US Treasury yields push higher amidst a heavy supply week, yields up 4-5bps. Key US CPI report tonight. Yen falls on chatter the BofJ in no special hurry to scrap negative rates
12th Dec 23, 7:45am
US Treasury yields push higher amidst a heavy supply week, yields up 4-5bps. Key US CPI report tonight. Yen falls on chatter the BofJ in no special hurry to scrap negative rates
A review of things you need to know before you sign off on Monday; Heartland tweaks Notice Savers higher, immigration angst in NZ & AU, POT selldown starts, swaps firm, NZD on hold, & more
11th Dec 23, 4:00pm
29
A review of things you need to know before you sign off on Monday; Heartland tweaks Notice Savers higher, immigration angst in NZ & AU, POT selldown starts, swaps firm, NZD on hold, & more
Roger J Kerr says the evidence from all the US economic data over the last month has to be that the risks have subsided, therefore the Fed have done enough with tight monetary policy to achieve their 2.00% inflation target
11th Dec 23, 8:15am
2
Roger J Kerr says the evidence from all the US economic data over the last month has to be that the risks have subsided, therefore the Fed have done enough with tight monetary policy to achieve their 2.00% inflation target
US labour market data was stronger than expected in November. US treasury yields increased and the US dollar gained snapping a 3-week loosing streak. China consumer price inflation fell 0.5%, the fastest decline in 3-years amid weak domestic demand
11th Dec 23, 7:43am
US labour market data was stronger than expected in November. US treasury yields increased and the US dollar gained snapping a 3-week loosing streak. China consumer price inflation fell 0.5%, the fastest decline in 3-years amid weak domestic demand
A review of things you need to know before you sign off on Friday; no retail rate changes; Q3 factory and retail data weak, jobs strong, focus on value not nice-to-haves, swaps on hold, NZD retreats, & more
8th Dec 23, 3:59pm
43
A review of things you need to know before you sign off on Friday; no retail rate changes; Q3 factory and retail data weak, jobs strong, focus on value not nice-to-haves, swaps on hold, NZD retreats, & more
The yen has strengthened and JGB yields moved sharply higher following Bank of Japan signals of an exit from their large-scale stimulus and negative interest rates
8th Dec 23, 7:47am
4
The yen has strengthened and JGB yields moved sharply higher following Bank of Japan signals of an exit from their large-scale stimulus and negative interest rates
A review of things you need to know before you sign off on Thursday; some minor home loan and TD changes, Fonterra raises milk payout forecast, rates surge, swaps and NZD hold, and more
7th Dec 23, 3:59pm
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A review of things you need to know before you sign off on Thursday; some minor home loan and TD changes, Fonterra raises milk payout forecast, rates surge, swaps and NZD hold, and more
ASB economists estimate that average household living costs will have increased by about $115 a week in 2023 - and with a further $70 hike to come next year, but income rises will probably beat that
7th Dec 23, 10:30am
42
ASB economists estimate that average household living costs will have increased by about $115 a week in 2023 - and with a further $70 hike to come next year, but income rises will probably beat that
Lower oil prices and US employment data help extend the global bond market rally, led by the long end. Rates down to fresh multi-month lows. But muted price action for US equities and currency
7th Dec 23, 7:52am
1
Lower oil prices and US employment data help extend the global bond market rally, led by the long end. Rates down to fresh multi-month lows. But muted price action for US equities and currency
A review of things you need to know before you sign off on Wednesday; positive dairy auction, Barfoot transaction levels rise, few vegetarians, NZU auction fizzes, swaps soft, NZD firm, & more
6th Dec 23, 3:59pm
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A review of things you need to know before you sign off on Wednesday; positive dairy auction, Barfoot transaction levels rise, few vegetarians, NZU auction fizzes, swaps soft, NZD firm, & more
RBA leaves policy unchanged, keeps weak tightening bias, disappointing the hawks and sending their rates and AUD lower. ECB's Schnabel turns from hawkish to dovish, sending European rates much lower. Spillover effects on US Treasuries
6th Dec 23, 8:08am
RBA leaves policy unchanged, keeps weak tightening bias, disappointing the hawks and sending their rates and AUD lower. ECB's Schnabel turns from hawkish to dovish, sending European rates much lower. Spillover effects on US Treasuries
[updated]
A review of things you need to know before you sign off on Tuesday; no retail rate changes, construction slows, rentals boost vehicle sales, company taxes sag, commodity prices soften, swaps hold, NZD dips, & more
5th Dec 23, 3:59pm
115
A review of things you need to know before you sign off on Tuesday; no retail rate changes, construction slows, rentals boost vehicle sales, company taxes sag, commodity prices soften, swaps hold, NZD dips, & more
Governor Adrian Orr explains what the Reserve Bank needs to see to have real confidence inflation pressures are easing off
5th Dec 23, 8:30am
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Governor Adrian Orr explains what the Reserve Bank needs to see to have real confidence inflation pressures are easing off
Recent price action reverses, with US Treasury yields up 10-12bps from last week's close. Risk appetite weaker, with US equities down and USD broadly stronger
5th Dec 23, 7:54am
Recent price action reverses, with US Treasury yields up 10-12bps from last week's close. Risk appetite weaker, with US equities down and USD broadly stronger
A review of things you need to know before you sign off on Monday; no retail rate changes; terms of trade hold, services rise again, NZX50 promotion-relegation, swaps & NZD hold, gold at ATH, & more
4th Dec 23, 3:59pm
26
A review of things you need to know before you sign off on Monday; no retail rate changes; terms of trade hold, services rise again, NZX50 promotion-relegation, swaps & NZD hold, gold at ATH, & more
Roger J Kerr struggles to make sense of the Reserve Bank's latest 'stringent' message
4th Dec 23, 8:02am
16
Roger J Kerr struggles to make sense of the Reserve Bank's latest 'stringent' message
A speech by Federal Reserve Chairman Powell failed to deter investors’ expectations of rate cuts. Market pricing implies a greater than 50% chance of a 25bps rate c weakness. Oil prices fall after OPEC+ members delay meeting in dispute about output quotas
4th Dec 23, 7:40am
A speech by Federal Reserve Chairman Powell failed to deter investors’ expectations of rate cuts. Market pricing implies a greater than 50% chance of a 25bps rate c weakness. Oil prices fall after OPEC+ members delay meeting in dispute about output quotas