US Treasury yields
NZ rates outperform US equivalents. Markets price next RBNZ hike in May 2019. Eyes on FOMC minutes seeking signals on how inflation signs are being read
20th Feb 18, 8:29am
NZ rates outperform US equivalents. Markets price next RBNZ hike in May 2019. Eyes on FOMC minutes seeking signals on how inflation signs are being read
UST 10yr can't break higher. NZ bond yields nudge up. Eyes on US non-farm payrolls report but expectations aren't high
2nd Feb 18, 8:28am
UST 10yr can't break higher. NZ bond yields nudge up. Eyes on US non-farm payrolls report but expectations aren't high
Local rates pressed by higher US rates and lower AU rates with the Aussie influence tending to revail with slightly lower yields
1st Feb 18, 8:28am
Local rates pressed by higher US rates and lower AU rates with the Aussie influence tending to revail with slightly lower yields
Bond yields rise, German bunds +2 bps, USTs +4 bps. But breakout elusive. Eyes on US payrolls
29th Jan 18, 8:21am
Bond yields rise, German bunds +2 bps, USTs +4 bps. But breakout elusive. Eyes on US payrolls
UST yields rise on shutdown risk. But stronger US growth and inflation will encourage Fed tightening. NZ PMI will test business confidence assessments
19th Jan 18, 8:43am
UST yields rise on shutdown risk. But stronger US growth and inflation will encourage Fed tightening. NZ PMI will test business confidence assessments
US yield curve flattest in 10 years, distorted by QE durations. Soft AU GDP pushes back next RBA rise. Eyes now on US non-farm payrolls report
7th Dec 17, 7:56am
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US yield curve flattest in 10 years, distorted by QE durations. Soft AU GDP pushes back next RBA rise. Eyes now on US non-farm payrolls report
Markets expect US Fed hike, but long rates slip causing a yield curve flattening. NZ rates rise and steepen. Eyes on AU GDP and US jobs data
6th Dec 17, 8:20am
Markets expect US Fed hike, but long rates slip causing a yield curve flattening. NZ rates rise and steepen. Eyes on AU GDP and US jobs data
UST 10yr yield opened higher and traded a tight range since, up 3 bps to 2.39%; European rates are also higher; in the local rates market, downward pressure remained evident for money market rates
5th Dec 17, 8:13am
UST 10yr yield opened higher and traded a tight range since, up 3 bps to 2.39%; European rates are also higher; in the local rates market, downward pressure remained evident for money market rates
NZ-US 10-year bond spread down to 34 bps, the lowest since 1993. UST 10yr up to 2.42% but volatility lowest since 1979
1st Dec 17, 8:58am
NZ-US 10-year bond spread down to 34 bps, the lowest since 1993. UST 10yr up to 2.42% but volatility lowest since 1979
US yields flatten further but NZ rates perk up at the long end. Powell faces confirmation hearings with pressure to wind back GFC reforms
28th Nov 17, 8:45am
US yields flatten further but NZ rates perk up at the long end. Powell faces confirmation hearings with pressure to wind back GFC reforms
Markets starting to accept the US Fed will be raising rates, ahead of Fed minutes release. Local rates follow. Local migration data unlikely to move markets
22nd Nov 17, 8:09am
Markets starting to accept the US Fed will be raising rates, ahead of Fed minutes release. Local rates follow. Local migration data unlikely to move markets
Equity markets rise in improving outlook. Local liquidity factors weigh on our rates with loan demand soft. Eyes on RBA speech
21st Nov 17, 7:49am
Equity markets rise in improving outlook. Local liquidity factors weigh on our rates with loan demand soft. Eyes on RBA speech
US yields flatten. NZ 90 day bank bill rate hits record low. Domestic liquidity conditions very 'easy'. Lower rates loom as loan demand softens
20th Nov 17, 8:03am
US yields flatten. NZ 90 day bank bill rate hits record low. Domestic liquidity conditions very 'easy'. Lower rates loom as loan demand softens
Yellen expresses frustration over 'lots of speeches'. UST 10yr pulls back from 2.40% level, curve flatter. Eyes on US CPI and AU wage data. Local rates little changed
15th Nov 17, 8:10am
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Yellen expresses frustration over 'lots of speeches'. UST 10yr pulls back from 2.40% level, curve flatter. Eyes on US CPI and AU wage data. Local rates little changed
US rates follow EU rates higher, with UST10yr back at 2.40%. NZ bond markets settles. Eyes on US CPI.
13th Nov 17, 7:55am
US rates follow EU rates higher, with UST10yr back at 2.40%. NZ bond markets settles. Eyes on US CPI.
Long end yields rise sharply after MPS adds to surprise DMO delay earlier. More rises not expected. Focus shifts to Aussie MPS
10th Nov 17, 8:17am
Long end yields rise sharply after MPS adds to surprise DMO delay earlier. More rises not expected. Focus shifts to Aussie MPS
Crude at two-year high after Saudi purge. Short squeeze sees bund yields slip. DMO delay 'shocks' traders, causes NZD to fall. Reaction causes bond yields to fall
7th Nov 17, 8:16am
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Crude at two-year high after Saudi purge. Short squeeze sees bund yields slip. DMO delay 'shocks' traders, causes NZD to fall. Reaction causes bond yields to fall
US bond market waiting on tax bill, Fed chair nomination, after UST refunding details sent rates lower. BofE also in spotlight
2nd Nov 17, 8:04am
US bond market waiting on tax bill, Fed chair nomination, after UST refunding details sent rates lower. BofE also in spotlight
Local data expected to influence next weeks RBNZ MPS which may be looking at an earlier start to higher inflation. US markets ignore data, focusing instead on prospects for US tax 'reform'
1st Nov 17, 8:07am
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Local data expected to influence next weeks RBNZ MPS which may be looking at an earlier start to higher inflation. US markets ignore data, focusing instead on prospects for US tax 'reform'
Rates fall worldwide despite positive consumer sentiment. Low German inflation may be behind the drop, and reports US tax cut proposals are faltering. Data rush coming
31st Oct 17, 8:41am
Rates fall worldwide despite positive consumer sentiment. Low German inflation may be behind the drop, and reports US tax cut proposals are faltering. Data rush coming
Focus goes on employment and jobs growth data. New NZ Govt won't add a jobless rate target to RBNZ mandate. Local rates may drift lower
30th Oct 17, 7:45am
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Focus goes on employment and jobs growth data. New NZ Govt won't add a jobless rate target to RBNZ mandate. Local rates may drift lower
Local swap rates little changed after being pulled by opposing forces, higher US rates and lower Australian rates. But markets price in higher long-term inflation to inflation-adjusted bonds
26th Oct 17, 8:04am
Local swap rates little changed after being pulled by opposing forces, higher US rates and lower Australian rates. But markets price in higher long-term inflation to inflation-adjusted bonds
The market’s interpretation of the new government is lower real rates consistent with a softer economy, but higher inflation and more tolerance for higher inflation, with an implied delay to any RBNZ rate hikes
24th Oct 17, 8:11am
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The market’s interpretation of the new government is lower real rates consistent with a softer economy, but higher inflation and more tolerance for higher inflation, with an implied delay to any RBNZ rate hikes
Change of Government expected to bring higher inflation expectations, increased debt issuance and an added risk premium for a steeper curve from here
20th Oct 17, 8:01am
Change of Government expected to bring higher inflation expectations, increased debt issuance and an added risk premium for a steeper curve from here
NZ rates followed the US rates down from Friday, but US rates turned up today. EU rates lower. Eyes now on NZ CPI and next dairy auction
17th Oct 17, 8:05am
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NZ rates followed the US rates down from Friday, but US rates turned up today. EU rates lower. Eyes now on NZ CPI and next dairy auction