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US$ responds positively despite US pending house sales coming in under-expectation and being at lowest level since early 2011
US$ responds positively despite US pending house sales coming in under-expectation and being at lowest level since early 2011
Eventual US debt ceiling solution will probably be a drawn out affair and in the interim expect market volatility
Eventual US debt ceiling solution will probably be a drawn out affair and in the interim expect market volatility
Market keeping an eye on US budget negotiations as debt ceiling limit looms; GBP and EUR benefit from US$ weakness
Market keeping an eye on US budget negotiations as debt ceiling limit looms; GBP and EUR benefit from US$ weakness
Firmer US$ as Fed tapering debate continues; NZ$ worst performing G10 currency
Firmer US$ as Fed tapering debate continues; NZ$ worst performing G10 currency
Chinese Flash PMI came in above expectations; improving Chinese prospects supportive for both NZ$ & A$
Chinese Flash PMI came in above expectations; improving Chinese prospects supportive for both NZ$ & A$
NZ 10-year yield down from recent peaks but still trading higher than most of its peers
NZ 10-year yield down from recent peaks but still trading higher than most of its peers
Knee-jerk Euro buying dominates market opening leading to losses in both NZD/EUR and AUD/EUR
Knee-jerk Euro buying dominates market opening leading to losses in both NZD/EUR and AUD/EUR
NZ yields closed down 9-12bps as markets react to surprise FOMC announcement; NZ Q2 GDP outcome response muted
NZ yields closed down 9-12bps as markets react to surprise FOMC announcement; NZ Q2 GDP outcome response muted
Smattering of upbeat US data following dovish FOMC announcement stops the US$ bleeding
US 10-year yields immediately gapped lower to below 2.74% before stabilising
US 10-year yields immediately gapped lower to below 2.74% before stabilising
Risk assets climb as US Fed takes market by surprise and does not announce tapering plan
Investors waiting for outcomes from US FOMC meeting and release of NZ Q2 GDP
Investors waiting for outcomes from US FOMC meeting and release of NZ Q2 GDP
Investors hold their breath ahead of tomorrow’s watershed FOMC meeting; NZ$ strongest performer of majors
Investors hold their breath ahead of tomorrow’s watershed FOMC meeting; NZ$ strongest performer of majors
Spreads over AU and US bonds remains attractive and may foster demand for next government bond tender
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Spreads over AU and US bonds remains attractive and may foster demand for next government bond tender
Prospects of more accommodative monetary policy by US Fed suggests longer-term US$ weakness; NZ$/US$ consolidating just under 82c
Prospects of more accommodative monetary policy by US Fed suggests longer-term US$ weakness; NZ$/US$ consolidating just under 82c
US retail sales and University of Michigan confidence data disappointed; US 10-year bond yields fall
US retail sales and University of Michigan confidence data disappointed; US 10-year bond yields fall
RBNZ's hawkish statement last week could see NZ$/US$ trade above the 200-day moving average of 0.8185
RBNZ's hawkish statement last week could see NZ$/US$ trade above the 200-day moving average of 0.8185
Weak Australian employment data sees NZ-AU 2 year swap yield differential widen to 66bps; BNZ see ultimate margin above 120 bps
Weak Australian employment data sees NZ-AU 2 year swap yield differential widen to 66bps; BNZ see ultimate margin above 120 bps
Add soft Aussie employment data to yesterday's RBNZ announcement and you get the biggest one day gain for the NZ$/A$ since May 2010
Add soft Aussie employment data to yesterday's RBNZ announcement and you get the biggest one day gain for the NZ$/A$ since May 2010
LGFA spreads to NZ Govt stock widen and bid to cover ratios ranged from 1.6x to 3.0x; successful bid ranges fairly wide at 3-10bps
LGFA spreads to NZ Govt stock widen and bid to cover ratios ranged from 1.6x to 3.0x; successful bid ranges fairly wide at 3-10bps
No impediment to further appreciation of the NZ$/US$ with BNZ seeing 'fair value' being up to 86c
No impediment to further appreciation of the NZ$/US$ with BNZ seeing 'fair value' being up to 86c
Outright yield on LGFA bonds is now at 5.45%; expect some opportunistic buying in today's auction of 2021's
Outright yield on LGFA bonds is now at 5.45%; expect some opportunistic buying in today's auction of 2021's
Chinese Industrial production, business investment, and retail sales all came in above market expectations in August
Chinese Industrial production, business investment, and retail sales all came in above market expectations in August
In the near-term BNZ sees the market biased towards reducing rather than increasing expectations for rate hikes
In the near-term BNZ sees the market biased towards reducing rather than increasing expectations for rate hikes
Successful 2020 olympic bid, Nikkei index up 2.5% and upward revisions to Q2 GDP cap off good day for Japan
Successful 2020 olympic bid, Nikkei index up 2.5% and upward revisions to Q2 GDP cap off good day for Japan