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The yield on NZGB23s is now at 4.07%, close to its lowest level since June last year
The yield on NZGB23s is now at 4.07%, close to its lowest level since June last year
Bloodbath in equities and downgrade to global growth impacts NZ sending rates lower
Bloodbath in equities and downgrade to global growth impacts NZ sending rates lower
Fed minutes more cautious than anticipated causing sell off in USD; NZDUSD up nearly 1% to 79c; Chinese PMI slips
Fed minutes more cautious than anticipated causing sell off in USD; NZDUSD up nearly 1% to 79c; Chinese PMI slips
RBA comments on housing were factual not alarmist; QSBO detail shows above-middling inflation; no urgency for RBNZ to hike rates
RBA comments on housing were factual not alarmist; QSBO detail shows above-middling inflation; no urgency for RBNZ to hike rates
IMF downgrades growth forecasts for euro-zone, Japan, Russia and Brazil; acknowledgement of past forecasting failures; risk of the euro-zone slipping into recession grows
IMF downgrades growth forecasts for euro-zone, Japan, Russia and Brazil; acknowledgement of past forecasting failures; risk of the euro-zone slipping into recession grows
QSBO unlikely to move the NZD, German factory orders fall more than expected, investors see USD overbought
QSBO unlikely to move the NZD, German factory orders fall more than expected, investors see USD overbought
NZ swaps sitting close to fair value; expect 'robust' QBSO, but markets on lookout for inflation signals as NZD falls
NZ swaps sitting close to fair value; expect 'robust' QBSO, but markets on lookout for inflation signals as NZD falls
Better than expected results for US labour market, US trade data, US factory data, eurozone retail sales surprise analysts. Strong NZ QSBO expected
Better than expected results for US labour market, US trade data, US factory data, eurozone retail sales surprise analysts. Strong NZ QSBO expected
Markets liked the strong US jobs growth and subdued wage pressure; NZ swaps up +2-3 bps, bonds up +5 bps
Markets liked the strong US jobs growth and subdued wage pressure; NZ swaps up +2-3 bps, bonds up +5 bps
Squeeze on USD long positions; ECB disappoints market with statement; GBP on the slide and European equities struggling
Squeeze on USD long positions; ECB disappoints market with statement; GBP on the slide and European equities struggling
Draghi's plan doesn't impress markets; NZ OCR hikes off agenda until "some stabilisation in dairy prices"
Draghi's plan doesn't impress markets; NZ OCR hikes off agenda until "some stabilisation in dairy prices"
Dairy auction drop sees an initial currency market reaction but NZD has since inched its way back up; EU issues weigh on world markets
Dairy auction drop sees an initial currency market reaction but NZD has since inched its way back up; EU issues weigh on world markets
Gloomy markets drive down yields worldwide; expect local yields to fall further
Gloomy markets drive down yields worldwide; expect local yields to fall further
Markets ignore the fall in business confidence as 'election uncertainty'; eyes on next dairy auction
Markets ignore the fall in business confidence as 'election uncertainty'; eyes on next dairy auction
Rate curve near its flattest, corporates get option to extend durations
NZD has fallen 11% since June and observers see another 5% decline by the end of 2014
NZD has fallen 11% since June and observers see another 5% decline by the end of 2014
A lower currency may mean higher prices and a higher OCR track. Interest rate markets yet to adjust to new realities
A lower currency may mean higher prices and a higher OCR track. Interest rate markets yet to adjust to new realities
US and German bond spreads at widest point since 1989; NZ swap market relatively unaffected by RBNZ fighting talk
US and German bond spreads at widest point since 1989; NZ swap market relatively unaffected by RBNZ fighting talk
NZ$ higher against majors; better-than-expected trade deficit offsets impact of Fonterra payout revision; German business survey results grim reading
NZ$ higher against majors; better-than-expected trade deficit offsets impact of Fonterra payout revision; German business survey results grim reading
NZ swap curve flattens further, LGFA tender more solid than expected, reduced demand for UST 5yr auction
NZ swap curve flattens further, LGFA tender more solid than expected, reduced demand for UST 5yr auction
Surprise that NZD has outpaced the AUD in the move downward; EU PMI's 'ugly reading'
Surprise that NZD has outpaced the AUD in the move downward; EU PMI's 'ugly reading'
Today's $270 mln LGFA bond tender may be a challenge for the market to digest, NZGBs may come under switching pressure
Today's $270 mln LGFA bond tender may be a challenge for the market to digest, NZGBs may come under switching pressure
NZD not being marked down like the AUD or CAD but much hinges on Fonterra's signals tomorrow. Eyes also on September PMIs for majors
NZD not being marked down like the AUD or CAD but much hinges on Fonterra's signals tomorrow. Eyes also on September PMIs for majors
The pressure is rising in the eurozone for a major money-printing initiative. Bond yields reposition in expectation
The pressure is rising in the eurozone for a major money-printing initiative. Bond yields reposition in expectation
Don't expect NZD rally to extend materially as little reason to be bullish in a rising USD environment
Don't expect NZD rally to extend materially as little reason to be bullish in a rising USD environment