bnzeconomists

Market is looking for too much from the RBNZ tomorrow; volatility likely. Volatility likely with the euro too on Greek stress

Market is looking for too much from the RBNZ tomorrow; volatility likely. Volatility likely with the euro too on Greek stress

Market pricing challenges the RBNZ based on offshore settings, but today we should see upward and steepening curve pressure

Market pricing challenges the RBNZ based on offshore settings, but today we should see upward and steepening curve pressure

NZD may gain following RBNZ signals that rate cuts unlikely; but soft AU CPI may encourage RBA rate cuts

NZD may gain following RBNZ signals that rate cuts unlikely; but soft AU CPI may encourage RBA rate cuts

Markets move to price in an OCR cut in 2015, although BNZ see this as unlikely. German 10yr bonds now yield 0.36%

Markets move to price in an OCR cut in 2015, although BNZ see this as unlikely. German 10yr bonds now yield 0.36%

Even though NZ economy expanding with no inflation, markets focused on the 'no inflation' and pricing in higher chances of a rate cut. Kiwi dollar slips

Even though NZ economy expanding with no inflation, markets focused on the 'no inflation' and pricing in higher chances of a rate cut. Kiwi dollar slips

Turbulent night on bond markets. UST yields higher, NZ swap rates fall, ECB even beats recently raised extectations

Turbulent night on bond markets. UST yields higher, NZ swap rates fall, ECB even beats recently raised extectations

Kiwi currency falling as commodity block countries get marked down. Canada reacts. Eyes now firmly on the ECB

Kiwi currency falling as commodity block countries get marked down. Canada reacts. Eyes now firmly on the ECB

Rising UST yields may steepen NZ swap curves; surprise Canadian rate cut; huge ECB stimulus speculation

Rising UST yields may steepen NZ swap curves; surprise Canadian rate cut; huge ECB stimulus speculation

Kiwi currency ends its unsuccessful flirtation with the notion of parity with the AUD. China data doesn't excite but Greece might

Kiwi currency ends its unsuccessful flirtation with the notion of parity with the AUD. China data doesn't excite but Greece might

Mortgage demand may start impacting swap rates. Markets likely to ignore dairy auction but will focus on Q4 CPI

Mortgage demand may start impacting swap rates. Markets likely to ignore dairy auction but will focus on Q4 CPI

Danes defend euro peg, cut rates to align with euro. But NZD will be more influenced by Chinese GDP result later today

Danes defend euro peg, cut rates to align with euro. But NZD will be more influenced by Chinese GDP result later today

Slump in US yields followed by German yield falls. Flat NZ curve sustained. Focus now on today's QSBO

Slump in US yields followed by German yield falls. Flat NZ curve sustained. Focus now on today's QSBO

Swiss National Bank move sends ripples through markets; German & US bond yields fall again; expect NZ long bond yields to follow global counterparts

Swiss National Bank move sends ripples through markets; German & US bond yields fall again; expect NZ long bond yields to follow global counterparts

Swiss National Bank shock decision to abandon EUR/CHF floor and cut interest rates by 50 bps sends NZD 1.4% higher; excellent Australian job report

Swiss National Bank shock decision to abandon EUR/CHF floor and cut interest rates by 50 bps sends NZD 1.4% higher; excellent Australian job report

US treasury yields fall sharply; NZ govt stock curve flat; global hunt for yield sees NZ bonds benefit; Greek govt bonds yielding below 9%

US treasury yields fall sharply; NZ govt stock curve flat; global hunt for yield sees NZ bonds benefit; Greek govt bonds yielding below 9%

Copper price collapses over 7% in less than 1 hour; abysmal US retail sales report; EUR on a rollercoaster ride; JPY was again an outperformer

Copper price collapses over 7% in less than 1 hour; abysmal US retail sales report; EUR on a rollercoaster ride; JPY was again an outperformer

NZ bond yield curve almost horizontal; NZ govt stock maturing in 2023 yielding below cash

NZ bond yield curve almost horizontal; NZ govt stock maturing in 2023 yielding below cash

NZD stepping back from post-float highs; thoughts of NZD/AUD parity was supporting NZD/USD; equity indices rally on oil’s mid-session bounce and positive earnings and ratings news

NZD stepping back from post-float highs; thoughts of NZD/AUD parity was supporting NZD/USD; equity indices rally on oil’s mid-session bounce and positive earnings and ratings news

Offshore yields driving NZ market in absence of data; US treasury yield down 5 bps and German equivalents also lower; Greek bond yields falling ahead of election

Offshore yields driving NZ market in absence of data; US treasury yield down 5 bps and German equivalents also lower; Greek bond yields falling ahead of election

NZD lower against majors; NZD/USD below 50-day moving average; NZD/JPY down 1%; investor nervousness stems from the current atmosphere of uncertainty

NZD lower against majors; NZD/USD below 50-day moving average; NZD/JPY down 1%; investor nervousness stems from the current atmosphere of uncertainty

Upward momentum of the USD ran out of steam overnight; eyes on US non-farm payrolls, strong Australian building approvals

Upward momentum of the USD ran out of steam overnight; eyes on US non-farm payrolls, strong Australian building approvals

The return of NZ markets to normal trade should see a modest steepening of rates, helped by rises in US benchmarks

The return of NZ markets to normal trade should see a modest steepening of rates, helped by rises in US benchmarks

Despite recent gains by the strengthening NZD, parity with the AUD 'unlikely' says BNZ; fair value nearer 92 AUc they say rather than current 96 AUc

Despite recent gains by the strengthening NZD, parity with the AUD 'unlikely' says BNZ; fair value nearer 92 AUc they say rather than current 96 AUc

Offshore sentiment dictating local wholesale interest rates with longer rates falling while short rates stay steady

Offshore sentiment dictating local wholesale interest rates with longer rates falling while short rates stay steady

NZD pushed up by better than expected dairy prices at latest Fonterra auction. But rest of world struggles for a positive outlook

NZD pushed up by better than expected dairy prices at latest Fonterra auction. But rest of world struggles for a positive outlook