by Warren Head | May 26, 2022 | Currency, Economy, Money Market
The RBNZ sprung a hawkish surprise at the MPS yesterday, significantly revising up its forecast OCR track to show a peak of just under 4%, notes BNZ Markets. NZ rates moved sharply higher as a result, with the market moving to broadly align itself with the RBNZ’s new...
by Warren Head | May 25, 2022 | Currency, Economy
After a positive start to the week, risk sentiment is weaker again on the back of concerns about the earnings and growth outlook, says BNZ Markets this morning. This sees weaker global equities and global rates lower, says Jason Wong, senior market strategist....
by Warren Head | May 24, 2022 | Currency, Economy, Money Market
The new week has kicked off with a lift in risk appetite, with global equities markets showing some decent gains, higher global rates and weaker safe-haven currencies like JPY and the USD. The NZ dollar has been a beneficiary of the change in sentiment, gaining 1% to...
by Warren Head | May 23, 2022 | Currency, Economy, Global Share Markets, Money Market
23.5.22 Markets remain dominated by stagflation concerns at present, with inflation at multi-decade highs in most countries, central banks set on rapidly tightening monetary policy, and recession fears mounting, notes BNZ Markets. The S&P500 briefly crossed over...
by Warren Head | May 20, 2022 | Currency, Economy, Money Market
20.5.22 Growth fears for the US economy have resulted in notable weakness in the US dollar, comments BNZ Markets. US rates have pushed lower, led by the short-end of the curve, as traders pare bare monetary policy tightening expectations a little, notes Jason Wong,...
by Warren Head | May 19, 2022 | Currency, Money Market
19.5.22 US equities have plunged as some poor earnings results from the retailers provide a reality check on how damaging a high inflationary environment can be, says BNZ Markets. Bonds have found a safe-haven bid and so have JPY, CHF. The USD has also been well...
