-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI PodcastsFixed IncomeFI Markets AnalysisCentral Bank PreviewsFI PiFixed Income Technical AnalysisUS$ Credit Supply PipelineGilt Week AheadGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction CalendarPolitical RiskMNI Political Risk AnalysisMNI Political Risk - US Daily BriefMNI Political Risk - The week AheadElection Previews -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
-
Credit
Credit
Real time insight of credit markets
-
Data
-
Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
Global MacroDM Central Bank PreviewsDM Central Bank ReviewsEM Central Bank PreviewsEM Central Bank ReviewsBalance Sheet AnalysisData AnalysisEurozone DataUK DataUS DataAPAC DataInflation InsightEmployment InsightGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance Calendars EZ/UK Bond Auction Calendar EZ/UK T-bill Auction Calendar US Treasury Auction Calendar Global Macro Weekly -
About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessBONDS: NZGBS Trade Richer As US Rate Cut Pricing Firms
NZGBs are richer today curves have steepened over the week although slightly flattened over the day. Earlier today we saw August House prices fall, while BusinessNZ Mfg PMI rose slightly.
- Ex-NY Fed Pres Dudley sees a strong case for a half-point rate cut at the FOMC meeting, citing a weakening U.S. labor market and risks to jobs outweighing inflation concerns. While most expect a quarter-point cut, Dudley emphasized Powell's reluctance to allow further labor market weakness, and noted that some Wall Street banks, like Citigroup and JPMorgan, are pushing for more aggressive action.
- US tsys futures have edged higher and now trade near session's best. The US 10yr yield is trading at yearly lows of 3.644%, while the US 2s10s curve is +2.833 at 5.894, just off recent highs of 7.405.
- NZGBs yields are 4-5bps lower across the curve, with the 2yr -4.1bps at 3.861%, the lowest since Sept 2022, while the 10yr is trading -4.7bps at 4.088% back at may 2023 levels.
- Swap rates are 3-6bps lower
- RBNZ dated OIS continues to fluctuate with pricing firming 2-3bps into year-end, with 37.5bps of cuts priced in for October. Pricing has firmed 5-10bps through to the July meeting.
- NZ Houses are taking longer to sell, with the median time reaching 50 days in August, the highest since April 2023 with house prices flat in August after five months of declines, annual prices dropped 0.7%. While NZ Mfg PMI rose to 45.8 in August from 44.4 in July, marking the 18th consecutive month of contraction, though improving from a low of 41.4 in June.
- The calendar is empty until Thursday when GDP is due out, with consensus expected to show a 0.5% drop for Q2.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.