Here's my summary of the key issues from overnight that affect
But first, manufacturing activity has weakened in China and Japan in April, while growth in the sector has slowed in Europe and the US, suggesting the global economy may be less robust than policymakers are predicting.
Overall, manufacturing in the
As for the sale of new houses in the US - growth is soft. While March saw a double-digit increase in sales compared to March last year, the number of houses being sold is still below market expectations.
US and British authorities have fined Deutsche Bank a record US$2.5 billion to settle accusations it helped manipulate the benchmarks used to set interest rates on trillions of dollars in mortgages, student loans, credit cards and other debt.
Back home, there's considerable horsepower across the economy’s engines. The ANZ-Roy Morgan Consumer Confidence Index nudged up marginally in April, as consumer sentiment was perky, businesses were optimistic and inflation expectations continued to ease.
The UST 10yr benchmark yield is unchanged today at 1.97%.
Swap rates have fallen with a steepening bias, following the Reserve Bank Assistant Governor, John McDermott, yesterday annoucning an OCR cut is possible if wage and price setting pressures settle at lower levels.
The gold price remains at a US$1,188/oz, following a big price drop yesterday.
If you want to catch up with all the local changes yesterday, we have an update here.
The easiest place to stay up with event risk is by following our Economic Calendar here »