Here's my summary of the key events overnight that affect New Zealand, with news ex-Goldman Sachs executives seems to be winning a disproportionate share of Donald Trump's cabinet appointments.
But first, and probably more importantly, the bond market rout is deepening. The yield on the UST 10 year rose to a 17-month high, following the biggest monthly increase in November since 2009. And today, it has zoomed even higher.
Meanwhile in the US, markets are awaiting the non-farm payrolls report tomorrow as a confirming signal for the December 15 Fed rate hike. Today's initial jobless claims blipped up but from a very low level.
In Europe, the factory picture seems to be brightening further too. The Eurozone manufacturing PMI is now at highest level since January 2014, led by growth in the Netherlands, Austria, Spain and Germany. Output price rises recorded are at their fastest pace in over five years, as cost inflation there surged to 56-month record.
In China, their factory PMI data maintains its recent recovery, but at a slightly reduced pace in the private survey, but at a faster pace in the official survey. Growth in new orders and output slowed, and cost inflation keeps rising faster. Their services sector also continues to expand strongly, in fact at its fastest pace since mid 2014.
China's recent clampdown on moving funds out of the country also applies to foreign firms operating there and that is causing angst for many of them. This reinforces just how far away the yuan is from being the global reserve currency and it reinforces the US dollar.
ANZ has decided the bank's 20,000 Australian and New Zealand employees are not getting a $1,000 share bonus this year. The bonus ANZ stock "was intended to share the benefit of good years", the bank said. "It was not a good year." But it is not as though 'normal' bonuses are being withheld. Apparently it was a good enough year for those.
In Australia, we should also note that they are expecting a "monster" wheat harvest this year, one that will help keep food prices low.
In New York, the UST 10yr yield is even higher today, now at 2.46%. That is an eighteen month high.
Oil prices are substantially higher again today, and the US benchmark is now just over US$51 a barrel, while the Brent benchmark is now just over US$54 a barrel. OPEC's output restraint deal is still the catalyst.
The gold price is down sharply again, now at US$1,165/oz.
The New Zealand dollar is a little lower today at 70.7 US¢. On the cross rates it is at 95.5 AU¢, and against the euro up at 66.5 euro cents. The NZ TWI-5 index is now at 76.6.
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 today is by following our Economic Calendar here ».