Nick Smyth

Articles by Nick Smyth

17 Jan 19, 7:46am
Better than expected earnings from US banks helping to support equity markets; GBP has bounced strongly from yesterday morning’s lows; NZD has underperformed overnight and the NZ 2 year swap rate made a fresh low yesterday
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16 Jan 19, 8:15am
Currency eyes are on the UK parliamentary Brexit vote and the expected failure. But China policy moves and tax cuts are driving the improved risk sentiment, even overshadowing negative ECB comments
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15 Jan 19, 8:06am
Equities modestly lower after weak Chinese trade data. Little movement in currencies or global rates. NZ 2y swap makes a record low
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14 Jan 19, 8:09am
Positive vibes from expectations of a US-China trade deal, and a more dovish Fed have overshadowed the US shutdown impacts keeping markets positive. US inflation data helped as well. Eyes on Brexit vote
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19 Dec 18, 4:48pm
BNZ interest rate strategist Nick Smyth has a crunch of the detail of the RBNZ's new bank capital proposals; says bank funding costs will increase but the RBNZ may offset future increases in lending rates with delays to OCR rises, or even cuts
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18 Dec 18, 8:21am
US equity benchmarks are down between 0.9% and 1.1%, following earlier falls in European equities; NZD is little changed; NZ rates drifted lower again yesterday, led by the 5-year point
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17 Dec 18, 7:52am
USD briefly made a fresh 18-month high, with strong US retail sales release; NZD was hit by the weaker Chinese data and the RBNZ’s announcement; there was only a modest decline in US rates, the 10 year Treasury yield down 2bps to 2.89%
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14 Dec 18, 8:14am
No fresh developments on the US-China trade front and no major economic data released; ECB said it would end its QE programme; NZD has been relatively stable; HYEFU was very similar to the May Budget
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13 Dec 18, 8:12am
US equities have risen strongly overnight; GBP has also recovered sharply; NZD has fallen, despite a broadly weaker USD; NZ longer-dates government bond yields increased again yesterday
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12 Dec 18, 7:53am
US and China have had high-level dialogue on trade; GBP remains weak amidst speculation; NZD is unchanged from this time yesterday, but higher on most of the crosses; NZ swap rates moved slightly lower again yesterday
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11 Dec 18, 7:54am
The British pound was hammered overnight; NZD has outperformed amidst the risk-off backdrop, and the NZDAUD has made a fresh 18-month high; US rates moves were calm in comparison to the volatility in the GBP and equity markets
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10 Dec 18, 8:07am
The risk-off backdrop pushed US bond yields lower; currencies saw relatively little movement, although the NZD drifted lower on the day; OPEC announced a larger than expected 1.2m barrels per day supply cut, which boosted oil prices
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29 Nov 18, 8:33am
Wall Street up and greenback down as Fed boss says interest rates 'just below' neutral. Local markets ignore RBNZ FSR. Eyes on NZ business confidence
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28 Nov 18, 8:13am
USD is broadly higher once again, although the NZD has bucked the trend and is up slightly on the day; US Treasury yields are also broadly unchanged overnight; GBP is the worst performer over the past 24 hours
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27 Nov 18, 7:53am
Equities and US bond yields were rising overnight, and crude oil recovered some of its large falls; currency moves have been modest; NZD is trading just under 0.68
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26 Nov 18, 8:09am
US equities ended the week on a soft note and US Treasury yields declined slightly; EUR weakened, and the USD strengthened; oil prices remained in free-fall due to concerns about oversupply; NZD fell 0.5% on Friday
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13 Nov 18, 8:16am
US equity markets have remained under downward pressure; USD has extended its recent gains; NZD has held up reasonably well, and is down only marginally against the USD overnight; NZ swap rates nudged up slightly yesterday
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12 Nov 18, 7:56am
Heavy-handed Chinese moves on setting commercial interest rates overshadows markets. Oil drops into bear territory. Eyes on both Brexit developments, and upcoming Powell comments
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5 Nov 18, 8:09am
A stronger than expected US non-farm payrolls report led to a sharp rise in US Treasury yields and an appreciation in the USD against G10 currencies; NZD drifted lower to 0.6650; NZ swap rates rose by between 1 to 2.5bps
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2 Nov 18, 8:19am
USD has moved sharply lower across the board over the past 24 hours; NZD is the best performing currency in the G10, up more than 2%; 10 year US Treasury yield is at 3.14%
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