US 10-year Treasury yields have risen in the overnight session as equities recover, currently trading at their high for the day of 2.89%, up 5 bps from the NZ close.
Yesterday we saw little movement in the NZ swaps curve while NZ government bond yields were higher, with the 10-year rate up 4bps 2.96%, mirroring the gain seen in US rates during the Friday night session.
During the local trading session today the Australian calendar is full, with current account and retail sales data ahead of the RBA policy announcement later this afternoon.
It should be a fairly market-neutral statement and analysts will be focused on the commentary regarding wages and employment, as they are seen to be the key towards the Bank moving to a more hawkish stance.
Get our daily currency email by signing up here:
Daily swap rates
Select chart tabs
BNZ Markets research is available here.
We welcome your comments below. If you are not already registered, please register to comment.
Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.