bnzeconomists

NZ swap yields slid slightly lower yesterday; overnight, offshore “safe haven” yields subsided as risk appetite waned

NZ swap yields slid slightly lower yesterday; overnight, offshore “safe haven” yields subsided as risk appetite waned

Risk and commodity sensitive currencies hit by increased fears around Euro union; Italy pays highest 5 year bond auction rate

Risk and commodity sensitive currencies hit by increased fears around Euro union; Italy pays highest 5 year bond auction rate

Increased Fonterra payout generates little reaction in NZ$; Euro sentiment helped by solid Spanish bond auction

Increased Fonterra payout generates little reaction in NZ$; Euro sentiment helped by solid Spanish bond auction

NZ yields followed their offshore counterparts lower yesterday. Overnight, US and German yields consolidated.

NZ yields followed their offshore counterparts lower yesterday. Overnight, US and German yields consolidated.

Interest in receiving in 3 to 5 year swaps keeping yields down; offshore, waning risk appetite took US and German yields down

Interest in receiving in 3 to 5 year swaps keeping yields down; offshore, waning risk appetite took US and German yields down

Comments from Fitch and Moody's suggest they willl look at Euro sovereign downgrades; NZ$ loses a cent against US$

Comments from Fitch and Moody's suggest they willl look at Euro sovereign downgrades; NZ$ loses a cent against US$

NZ$ yield moves will remain subject to European developments; NZDMO auction attracted modest interest on Friday

NZ$ yield moves will remain subject to European developments; NZDMO auction attracted modest interest on Friday

The risk sensitive A$, C$ and NZ$ were among the best performers, as markets responded positively to Euro summit news

The risk sensitive A$, C$ and NZ$ were among the best performers, as markets responded positively to Euro summit news

NZ$/US$ hit hard by ECB President's statement that Euro government bond purchases were not on the cards

NZ$/US$ hit hard by ECB President's statement that Euro government bond purchases were not on the cards

RBNZ implies that rate rises will start in second half of 2012

RBNZ implies that rate rises will start in second half of 2012

Markets quiet ahead of RBNZ meeting and Euro summit

Markets quiet ahead of RBNZ meeting and Euro summit

RBNZ expected to keep OCR on hold at 2.50%; markets waiting for Euro summit outcome this weekend

RBNZ expected to keep OCR on hold at 2.50%; markets waiting for Euro summit outcome this weekend

Market pricing in a very small chance of RBNZ rate cut tomorrow

Market pricing in a very small chance of RBNZ rate cut tomorrow

EUR absorbs the news that S&P had put 15 Euro soverigns on credit watch negative; RBA cuts official cash rate

EUR absorbs the news that S&P had put 15 Euro soverigns on credit watch negative; RBA cuts official cash rate

NZ yields eased a little lower yesterday, giving up a bit of their recent gains; overnight, global risk appetite improved on optimism in Europe

NZ yields eased a little lower yesterday, giving up a bit of their recent gains; overnight, global risk appetite improved on optimism in Europe

Franco-German agreement on fiscal rules for Euro countries boosts risk appetite; markets expecting RBA to cut cash rate today

Franco-German agreement on fiscal rules for Euro countries boosts risk appetite; markets expecting RBA to cut cash rate today

Euro rumours of Spanish credit downgrade and ECB support to IMF makes for volatile EUR session

Euro rumours of Spanish credit downgrade and ECB support to IMF makes for volatile EUR session

NZ yields continued to inch higher off recent lows, yesterday. Overnight, successful European government bond auctions boosted market sentiment.

NZ yields continued to inch higher off recent lows, yesterday. Overnight, successful European government bond auctions boosted market sentiment.

Markets subdued after yesterday's central bank induced excitement; Spanish and French bond auctions saw solid demand

Markets subdued after yesterday's central bank induced excitement; Spanish and French bond auctions saw solid demand

Co-ordinated central bank action to provide US$ liquidty, helped by positive US data, sent risk currencies spiking higher

Co-ordinated central bank action to provide US$ liquidty, helped by positive US data, sent risk currencies spiking higher

The NZ$/US$ was propelled above 0.7600 overnight by an improvement in global risk sentiment, spurred by better US data and high hopes for today’s EU finance ministers meeting.

The NZ$/US$ was propelled above 0.7600 overnight by an improvement in global risk sentiment, spurred by better US data and high hopes for today’s EU finance ministers meeting.

Improved risk sentiment sees equity and commodity markets move sharply higher

Improved risk sentiment sees equity and commodity markets move sharply higher

NZ$/US$ traded within a 0.7370 to 0.7440 range; Belgium cedit rating downgrded

NZ$/US$ traded within a 0.7370 to 0.7440 range; Belgium cedit rating downgrded

Markets taking a breather from volatility as US breaks for Thanksgiving

Markets taking a breather from volatility as US breaks for Thanksgiving

Failed German bond auction and fall in Chinese PMI helps yields lower

Failed German bond auction and fall in Chinese PMI helps yields lower