Kymberly Martin

Credit default risk pushes higher as commodity and equity prices fall; 'safe haven' assets in demand

Credit default risk pushes higher as commodity and equity prices fall; 'safe haven' assets in demand

Increased global credit caution results in noticeably wider spreads on corporate, bank and Kauri bonds

Increased global credit caution results in noticeably wider spreads on corporate, bank and Kauri bonds

Norway makes surprise cut. Equity markets soft. NZ rates take cues from offshore

Norway makes surprise cut. Equity markets soft. NZ rates take cues from offshore

Currencies have not performed in a simple ‘risk-off’ manner overnight; NZD strongest performer of majors; German business confidence and expectations ticks up

Currencies have not performed in a simple ‘risk-off’ manner overnight; NZD strongest performer of majors; German business confidence and expectations ticks up

NZD sold off on weak Chinese PMI data; commodity linked currencies continue to underperform; too early to see if momentum in emerging markets is temporary or permanent

NZD sold off on weak Chinese PMI data; commodity linked currencies continue to underperform; too early to see if momentum in emerging markets is temporary or permanent

China factory data helps push local wholesale rates lower and flatter. Yields fall in LGFA tender, Eyes now on Fonterra

China factory data helps push local wholesale rates lower and flatter. Yields fall in LGFA tender, Eyes now on Fonterra

JPY benefitting from risk aversion trades; market shuns commodity and European currencies; Chinese PMI data big test for both AUD and NZD

JPY benefitting from risk aversion trades; market shuns commodity and European currencies; Chinese PMI data big test for both AUD and NZD

Credit default risk rises, AU risk now at levels that may add cost to NZ. Safe haven demand for US and German bonds rises

Credit default risk rises, AU risk now at levels that may add cost to NZ. Safe haven demand for US and German bonds rises

USD has upward momentum while NZD the worst performer of majors; NZD/USD finding support at 63c; Chinese PMI data next key release for AUD and NZD

USD has upward momentum while NZD the worst performer of majors; NZD/USD finding support at 63c; Chinese PMI data next key release for AUD and NZD

2 year swaps at their lowest level since January 2013. Fed speakers try to get markets believing a 2015 rate hike still likely

2 year swaps at their lowest level since January 2013. Fed speakers try to get markets believing a 2015 rate hike still likely

NZD falls after better than expected Australian jobs report, RBNZ easing bias, and Japanese signals of more QE

NZD falls after better than expected Australian jobs report, RBNZ easing bias, and Japanese signals of more QE

Another OCR cut coming in October, RBNZ more assertive that further reductions necessary. Only higher growth, dairy prices, or house prices may change that

Another OCR cut coming in October, RBNZ more assertive that further reductions necessary. Only higher growth, dairy prices, or house prices may change that

Better risk appetite helps commodity currencies including the NZD, but gains dependent on tone in today's RBNZ statement

Better risk appetite helps commodity currencies including the NZD, but gains dependent on tone in today's RBNZ statement

Markets will quickly shift attention after MPS, especially to Aussie jobs report. Elsewhere, general sentiment improves

Markets will quickly shift attention after MPS, especially to Aussie jobs report. Elsewhere, general sentiment improves

NZD benefits from commodity boost. AU business conditions help. But China trade data provides background concerns

NZD benefits from commodity boost. AU business conditions help. But China trade data provides background concerns

Tomorrow's OCR cut fully priced in; eyes on RBNZ signals. Fed-speak also being watched closely

Tomorrow's OCR cut fully priced in; eyes on RBNZ signals. Fed-speak also being watched closely

NZD underperforms again, at lowest level since July 2009. NZ data underwhelms. Last clue for Q2 NZ GDP today

NZD underperforms again, at lowest level since July 2009. NZ data underwhelms. Last clue for Q2 NZ GDP today

Differing policy tracks between NZ and the US will see local rates steepen to year end. Eyes on Australia and Asia today

Differing policy tracks between NZ and the US will see local rates steepen to year end. Eyes on Australia and Asia today

Markets see NFPs meeting Fed criteria for liftoff but fragile global markets weigh against it. Post-holiday open in China keenly awaited. NZD pushed lower

Markets see NFPs meeting Fed criteria for liftoff but fragile global markets weigh against it. Post-holiday open in China keenly awaited. NZD pushed lower

US rate hike bets unchanged after ambivalent NFPs. Eyes on China stock market re-opening. RBNZ certain to cut

US rate hike bets unchanged after ambivalent NFPs. Eyes on China stock market re-opening. RBNZ certain to cut

Market sentiment turned positive overnight on better than expected US economic performance and Shanghai rebound. Commodity prices recover

Market sentiment turned positive overnight on better than expected US economic performance and Shanghai rebound. Commodity prices recover

Markets no longer expecting a September rate hike from the US Fed, changing their expectations to December

Markets no longer expecting a September rate hike from the US Fed, changing their expectations to December

US Fed's Dudley wants to see more data before making judgement on rate hikes; US treasuries continue sell-off; NZ swap curve continues to steepen following global lead

US Fed's Dudley wants to see more data before making judgement on rate hikes; US treasuries continue sell-off; NZ swap curve continues to steepen following global lead

Strong USD buying after positive US durable goods report; European currencies suffer at hands of stronger USD; NZD cue to come from global sentiment and Asian markets

Strong USD buying after positive US durable goods report; European currencies suffer at hands of stronger USD; NZD cue to come from global sentiment and Asian markets

US 10-year treasuries push higher on improved sentiment; RBNZ inflation expectations firmer; market pricing in 2.5% OCR by mid 2016

US 10-year treasuries push higher on improved sentiment; RBNZ inflation expectations firmer; market pricing in 2.5% OCR by mid 2016