BNZ
USD/JPY marched up through 160 to a fresh 38-year high, raising the chance of yen intervention. The PBoC continues to allow a softer yuan, while the AUD outperformed after a strong monthly CPI that caught the market off guard
27th Jun 24, 7:45am
USD/JPY marched up through 160 to a fresh 38-year high, raising the chance of yen intervention. The PBoC continues to allow a softer yuan, while the AUD outperformed after a strong monthly CPI that caught the market off guard
Westpac's latest mortgage rate adjustments bring their higher rates down into line with their main rivals. We ask readers to record the below-card offers they get on their banking apps so others can know where real savings can be won
26th Jun 24, 6:00pm
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Westpac's latest mortgage rate adjustments bring their higher rates down into line with their main rivals. We ask readers to record the below-card offers they get on their banking apps so others can know where real savings can be won
Market movements well contained. US equities up modestly, US Treasuries yields up slightly and the USD index is slightly stronger. Canadian inflation positively surprised, but this had more impact on rates than the CAD
26th Jun 24, 7:43am
Market movements well contained. US equities up modestly, US Treasuries yields up slightly and the USD index is slightly stronger. Canadian inflation positively surprised, but this had more impact on rates than the CAD
The S&P500 is down slightly, US Treasury yields show little net change and the USD is broadly weaker. Oil prices continue to push higher
25th Jun 24, 7:33am
The S&P500 is down slightly, US Treasury yields show little net change and the USD is broadly weaker. Oil prices continue to push higher
[updated]
Prime Minister Christopher Luxon wants 'downward pressure' on house prices but not necessarily real decreases
25th Jun 24, 6:43am
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Prime Minister Christopher Luxon wants 'downward pressure' on house prices but not necessarily real decreases
Softer than expected PMI data across Europe contributed to a fall in German bund yields. In contrast, US PMI data was relatively robust with the composite index remaining near two-year highs. The US dollar was broadly stronger
24th Jun 24, 7:25am
Softer than expected PMI data across Europe contributed to a fall in German bund yields. In contrast, US PMI data was relatively robust with the composite index remaining near two-year highs. The US dollar was broadly stronger
There has been plenty of news to digest but market movements have been well-contained. The BoE opened the door for a first rate cut this cycle in August while the Swiss National Bank cut rates again
21st Jun 24, 7:38am
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There has been plenty of news to digest but market movements have been well-contained. The BoE opened the door for a first rate cut this cycle in August while the Swiss National Bank cut rates again
RBNZ won’t let the New Zealand economy grow until inflation is under control
Economy flatlines for sixth quarter as sharp construction slowdown is partly offset by record kiwifruit harvest
20th Jun 24, 10:51am
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Economy flatlines for sixth quarter as sharp construction slowdown is partly offset by record kiwifruit harvest
Markets confined to narrow ranges with the mid-week US public holiday impacting activity. Japan considering issuing bonds with shorter maturities as the Bank of Japan reduces its JGB purchases
20th Jun 24, 7:48am
Markets confined to narrow ranges with the mid-week US public holiday impacting activity. Japan considering issuing bonds with shorter maturities as the Bank of Japan reduces its JGB purchases
[updated]
Just as Kiwibank ends its good one year 'special' term deposit offer, BNZ jumps in with one of its own. Even higher rates are available from investment-grade rated others
19th Jun 24, 11:28am
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Just as Kiwibank ends its good one year 'special' term deposit offer, BNZ jumps in with one of its own. Even higher rates are available from investment-grade rated others
A weaker than expected US retail sales report supported US Treasuries, dragging the 10-year rate down to as low as 4.20% and pushed down the USD, reversing earlier strength. The AUD has outperformed after a more hawkish than expected RBA update
19th Jun 24, 7:48am
A weaker than expected US retail sales report supported US Treasuries, dragging the 10-year rate down to as low as 4.20% and pushed down the USD, reversing earlier strength. The AUD has outperformed after a more hawkish than expected RBA update
US equities have continued their record-breaking run while, after last week’s strong rally, US Treasury yields are modestly higher. European markets have settled after last week’s selloff, with French assets recovering
18th Jun 24, 7:33am
US equities have continued their record-breaking run while, after last week’s strong rally, US Treasury yields are modestly higher. European markets have settled after last week’s selloff, with French assets recovering
Housing is too expensive and average prices need to fall even if it scares existing homeowners, Minister for Housing Chris Bishop says
17th Jun 24, 6:10pm
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Housing is too expensive and average prices need to fall even if it scares existing homeowners, Minister for Housing Chris Bishop says
Long-running survey records the worst ever non-Covid-affected level of activity for the services sector; 'This tells of a services sector in reverse at pace'
17th Jun 24, 12:11pm
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Long-running survey records the worst ever non-Covid-affected level of activity for the services sector; 'This tells of a services sector in reverse at pace'
A risk off tone dominated global markets into the end of last week as concern about the political crisis in France deepened. US consumer confidence weaker than expected. Global bond yields moved lower
17th Jun 24, 7:25am
A risk off tone dominated global markets into the end of last week as concern about the political crisis in France deepened. US consumer confidence weaker than expected. Global bond yields moved lower
It's a line ball call whether GDP figures out in the coming week will reveal the country still to be in recession or not. But whatever the outcome, economists don't see a particularly rosy path for the economy in the immediate future
16th Jun 24, 6:30am
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It's a line ball call whether GDP figures out in the coming week will reveal the country still to be in recession or not. But whatever the outcome, economists don't see a particularly rosy path for the economy in the immediate future
Much softer than expected US PPI data and a further increase in jobless claims supported US Treasuries, taking yields down 7-8bps across the curve. Concerns around France remain the focus. Some flight-to-safety evident
14th Jun 24, 7:52am
Much softer than expected US PPI data and a further increase in jobless claims supported US Treasuries, taking yields down 7-8bps across the curve. Concerns around France remain the focus. Some flight-to-safety evident
Gareth Vaughan suggests bank capital will again be a key area of debate as parliamentary select committees inquire about banking competition
14th Jun 24, 5:00am
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Gareth Vaughan suggests bank capital will again be a key area of debate as parliamentary select committees inquire about banking competition
The US Fed left rates on hold for a seventh straight meeting as was unanimously expected. Officials signaled they expect to cut rates by 25bps this year, down from 75bps at the March FOMC. US CPI data for May was softer than expected
13th Jun 24, 7:47am
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The US Fed left rates on hold for a seventh straight meeting as was unanimously expected. Officials signaled they expect to cut rates by 25bps this year, down from 75bps at the March FOMC. US CPI data for May was softer than expected
There has been more fallout from French President Macron’s decision to call early parliamentary elections, with a flight to quality within European assets. US rates have pushed lower ahead of the key US CPI report
12th Jun 24, 7:56am
There has been more fallout from French President Macron’s decision to call early parliamentary elections, with a flight to quality within European assets. US rates have pushed lower ahead of the key US CPI report
The outcome of European Parliament elections has been the key driver of markets. Elsewhere, markets holding until US CPI data and the Fed’s policy updates later in the week
11th Jun 24, 7:44am
The outcome of European Parliament elections has been the key driver of markets. Elsewhere, markets holding until US CPI data and the Fed’s policy updates later in the week
David Chaston investigates what the best home loan rate and term choice might be for borrowers needing to refix soon
10th Jun 24, 2:07pm
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David Chaston investigates what the best home loan rate and term choice might be for borrowers needing to refix soon
An upside surprise to US nonfarm payrolls and strong wage growth pushed global bond yields sharply higher. The USD made broad gains. Markets trimmed expectations for Fed easing, pushing back a cut to December
10th Jun 24, 7:22am
An upside surprise to US nonfarm payrolls and strong wage growth pushed global bond yields sharply higher. The USD made broad gains. Markets trimmed expectations for Fed easing, pushing back a cut to December
NZ's rural lenders acting as 'pseudo-regulators' through their membership of the Net-Zero Banking Alliance, Federated Farmers argues. ANZ hits back
8th Jun 24, 9:00am
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NZ's rural lenders acting as 'pseudo-regulators' through their membership of the Net-Zero Banking Alliance, Federated Farmers argues. ANZ hits back