OCR
The key market move has been a further chunky fall in oil prices. Lower oil prices have supported lower interest rates. US equities are modestly higher while in currency markets JPY has outperformed
11th Sep 24, 7:49am
The key market move has been a further chunky fall in oil prices. Lower oil prices have supported lower interest rates. US equities are modestly higher while in currency markets JPY has outperformed
US equities have rebounded after last week’s hefty loss but otherwise market movements have been well contained. UST rates little-changed, while the USD shows a modest broadly based gain
10th Sep 24, 7:46am
US equities have rebounded after last week’s hefty loss but otherwise market movements have been well contained. UST rates little-changed, while the USD shows a modest broadly based gain
'Spring has sprung and interest rates are coming down – but don’t expect to see house prices suddenly take off again soon'
10th Sep 24, 5:00am
172
'Spring has sprung and interest rates are coming down – but don’t expect to see house prices suddenly take off again soon'
US nonfarm payrolls weaker than expected pointing towards a cooling in US labour markets. The USD gained particularly against commodity currencies. Equities fell. UST yields declined as the yield curve steepened
9th Sep 24, 7:20am
US nonfarm payrolls weaker than expected pointing towards a cooling in US labour markets. The USD gained particularly against commodity currencies. Equities fell. UST yields declined as the yield curve steepened
David Hargreaves examines the apparently set path we are on to a series of interest rate reductions and wonders if there could yet be some potholes along the way
8th Sep 24, 6:30am
46
David Hargreaves examines the apparently set path we are on to a series of interest rate reductions and wonders if there could yet be some potholes along the way
Equity markets remain soft ahead of key US labour market data. Treasury yields and the US dollar are modestly weaker. Brent crude prices stabilised following Opec+ postponed production increase
6th Sep 24, 7:43am
Equity markets remain soft ahead of key US labour market data. Treasury yields and the US dollar are modestly weaker. Brent crude prices stabilised following Opec+ postponed production increase
Cooling US labour market led to lower treasury yields. US job openings, considered a proxy for labour demand, fell to the lowest level in more than three years. The Bank of Canada cut rates by 25bps to 4.25%
5th Sep 24, 7:42am
Cooling US labour market led to lower treasury yields. US job openings, considered a proxy for labour demand, fell to the lowest level in more than three years. The Bank of Canada cut rates by 25bps to 4.25%
The Reserve Bank may pause OCR cuts in November to monitor the economy for a possible rebound in consumer demand as mortgage rates fall
4th Sep 24, 3:16pm
35
The Reserve Bank may pause OCR cuts in November to monitor the economy for a possible rebound in consumer demand as mortgage rates fall
Soft tone across global equity markets with the S&P down sharply. US manufacturing ISM remained soft. Oil prices fell sharply to the lowest level since last December with a deal expected to restore Libyan production
4th Sep 24, 7:34am
Soft tone across global equity markets with the S&P down sharply. US manufacturing ISM remained soft. Oil prices fell sharply to the lowest level since last December with a deal expected to restore Libyan production
Soaring levels of business confidence in the wake of interest rate cuts have got the economists wondering how quickly the country's economy might get rolling again
3rd Sep 24, 1:15pm
43
Soaring levels of business confidence in the wake of interest rate cuts have got the economists wondering how quickly the country's economy might get rolling again
Asset markets were confined to narrow ranges with limited economic data and the Labor Day holiday in the US weighing on market activity. European bond yields traded modestly higher. The AUD outperformed
3rd Sep 24, 7:39am
Asset markets were confined to narrow ranges with limited economic data and the Labor Day holiday in the US weighing on market activity. European bond yields traded modestly higher. The AUD outperformed
Households plunged an extra $2 billion into term deposits in July as they sought to take advantage of high interest rates ahead of anticipated reductions in the rates
2nd Sep 24, 11:56am
21
Households plunged an extra $2 billion into term deposits in July as they sought to take advantage of high interest rates ahead of anticipated reductions in the rates
US inflation data benign supporting equity gains. Eurozone inflation fell supporting the case for the ECB to reduce rates. Global bonds ended higher in yield and the US dollar gained. Oil prices fell
2nd Sep 24, 7:12am
US inflation data benign supporting equity gains. Eurozone inflation fell supporting the case for the ECB to reduce rates. Global bonds ended higher in yield and the US dollar gained. Oil prices fell
US Treasury yields remain in a consolidation mode with a curve steepening bias. A risk-off vibe and technical factors have seen the USD broadly stronger with European currencies underperforming
29th Aug 24, 7:48am
US Treasury yields remain in a consolidation mode with a curve steepening bias. A risk-off vibe and technical factors have seen the USD broadly stronger with European currencies underperforming
HSBC economist Paul Bloxham is suggesting ways New Zealand could reclaim the former superstar status he bestowed upon us
28th Aug 24, 2:48pm
22
HSBC economist Paul Bloxham is suggesting ways New Zealand could reclaim the former superstar status he bestowed upon us
'We see recent falls in mortgage rates as more about preventing a deeper correction in house prices than providing the fuel for an immediate lurch higher'
28th Aug 24, 8:50am
69
'We see recent falls in mortgage rates as more about preventing a deeper correction in house prices than providing the fuel for an immediate lurch higher'
US consumer confidence higher on lower interest rate outlook while labour market conditions soften further. US equities edge higher, US Treasury yields in clear curve steepening bias and the US is broadly weaker
28th Aug 24, 7:39am
1
US consumer confidence higher on lower interest rate outlook while labour market conditions soften further. US equities edge higher, US Treasury yields in clear curve steepening bias and the US is broadly weaker
In a new episode of our Of Interest podcast, Westpac's Imre Speizer explains the importance of swap rates & why interest rates are heading lower
27th Aug 24, 5:00pm
8
In a new episode of our Of Interest podcast, Westpac's Imre Speizer explains the importance of swap rates & why interest rates are heading lower
Markets are consolidating following the initial excitement following Powell’s Jackson Hole speech. US equities are down modestly, US Treasuries show small changes, and the USD is slightly stronger
27th Aug 24, 7:28am
Markets are consolidating following the initial excitement following Powell’s Jackson Hole speech. US equities are down modestly, US Treasuries show small changes, and the USD is slightly stronger
Powell’s Jackson Hole speech was music to the ears of investors. Risk appetite increased, US equities up over 1%, Treasury yields fell, the USD was broadly weaker, and commodity prices rose
26th Aug 24, 7:29am
Powell’s Jackson Hole speech was music to the ears of investors. Risk appetite increased, US equities up over 1%, Treasury yields fell, the USD was broadly weaker, and commodity prices rose
Now that interest rates are officially on the way down, David Hargreaves has a crunch of some numbers that might help us to determine when the economy will pick up again
25th Aug 24, 6:30am
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Now that interest rates are officially on the way down, David Hargreaves has a crunch of some numbers that might help us to determine when the economy will pick up again
There has been a reversal of recent price action, with US equities weaker, higher rates and a stronger USD. Data suggested no need for the Fed to panic, Fed speakers arguing for gradualism
23rd Aug 24, 7:46am
There has been a reversal of recent price action, with US equities weaker, higher rates and a stronger USD. Data suggested no need for the Fed to panic, Fed speakers arguing for gradualism
Treasury yields fell led by the front end. The US dollar index extended its recent decline reaching new lows for the year. US payroll growth in the year to March was revised down. FOMC minutes pointed to a September rate cut
22nd Aug 24, 7:47am
Treasury yields fell led by the front end. The US dollar index extended its recent decline reaching new lows for the year. US payroll growth in the year to March was revised down. FOMC minutes pointed to a September rate cut
US Treasury yields are down 5-6bps, supported by benign Canadian CPI data. The USD is again broadly weaker, taking the DXY index down to fresh lows for the year; the yen is the strongest of the majors
21st Aug 24, 7:46am
5
US Treasury yields are down 5-6bps, supported by benign Canadian CPI data. The USD is again broadly weaker, taking the DXY index down to fresh lows for the year; the yen is the strongest of the majors
Fed speakers give the green light to a rate cut next month. Global equity markets rise. Eyes turn to Jackson Hole speakers
20th Aug 24, 7:35am
Fed speakers give the green light to a rate cut next month. Global equity markets rise. Eyes turn to Jackson Hole speakers