House prices in descent

The latest REINZ report revealed a further cooling in the housing market. House sales (July month): 4,822* Monthly % change: -3.1% (Prev month -11.2%) Annual % change: -36.7% (Prev month -36.1% House Price index* Monthly % change: -1.7% (Prev month -1.0%) Annual %...

Market reacts to lower US CPI

For a change, US CPI inflation surprised to the downside and this triggered a significant market reaction, says BNZ Markets this morning. US short end rates are lower but the 10-year rate is back to flat on the day after an earlier fall, said Jason Wong, senior...

Kiwi dolar trades higher

9.8.22 9.It has been a slow start to the week with little newsflow; the market has reversed some of Friday night’s post US payrolls reaction, seeing a broadly weaker US dollar and lower Treasury yields, comments BNZ Markets. “Overnight, the NZD and AUD have...

Higher US bond yields lift US dollar

A very US strong nonfarm payrolls – across jobs growth, unemployment, and wages – triggered a big move higher in US bond yields on Friday night, notes BNZ Markets. The US 10-year rate blasted 14bps higher, to 2.83%, as the market moved to price an almost 80% chance of...

KIwi dollar moves back up

5.8.22 It’s been a relatively quiet night across markets (for a change) as investors wait on the US nonfarm payrolls report tonight, says Nick Smyth at BNZ Markets. US equities are little changed, global rates are generally lower, while the NZD has pushed above the...