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MNI: FED'S POWELL STILL SEES POSSIBLE PATH TO SOFT LANDING

MNI: POWELL: FED PREPARED TO TIGHTEN FURTHER IF APPROPRIATE

FED'S GOOLSBEE: 'YOU CAN'T BACK OUT NOW' ON INFLATION FIGHT

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EZ/UK Bond Supply Calendar: BOE Long APF Operation on Monday

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NZGBS: Little Changed, US Tsys Twist-Flatten After Solid 20Y Auction

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In local morning trade, NZGBs are flat to 1bp richer as US tsy futures finished near post-20Y auction highs. The 20-year supply saw better than feared demand metrics. The US tsy curve twist-flattened, pivoting at the 5s, with yields 3bps higher to 3bps lower.

  • Little reaction to Richmond Fed President Barkin's comments on Fox: "NOW ISN'T BIG TIME FOR FORWARD GUIDANCE ON RATES; OVERALL, CORE INFLATION NUMBERS COMING DOWN NICELY," while Barkin focuses "ON INFLATION TO DECIDE RATE MOVES".
  • Wall Street enjoyed a bullish session, kicking off the holiday-abbreviated week. The NASDAQ climbed over 1%, while the S&P 500 advanced 0.7% to 4547.
  • Swap rates are flat to 2bps lower, with the 2s10s curve flatter.
  • RBNZ dated OIS pricing is little changed, with terminal OCR expectations sitting at 5.54%.
  • The trade deficit narrowed to NZ$1.709b in October from a revised -NZ$2.425b in September. The annual trade deficit narrowed to NZ$14.805b from a revised -NZ$15.412b in September.
  • ICYMI, Bloomberg reported negotiations to form the next New Zealand government neared a conclusion after the National Party secured agreement on key policies with its two partners. (See link)
  • The local calendar’s next release is Q3 Retail Sales Ex-Inflation on Friday.
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In local morning trade, NZGBs are flat to 1bp richer as US tsy futures finished near post-20Y auction highs. The 20-year supply saw better than feared demand metrics. The US tsy curve twist-flattened, pivoting at the 5s, with yields 3bps higher to 3bps lower.

  • Little reaction to Richmond Fed President Barkin's comments on Fox: "NOW ISN'T BIG TIME FOR FORWARD GUIDANCE ON RATES; OVERALL, CORE INFLATION NUMBERS COMING DOWN NICELY," while Barkin focuses "ON INFLATION TO DECIDE RATE MOVES".
  • Wall Street enjoyed a bullish session, kicking off the holiday-abbreviated week. The NASDAQ climbed over 1%, while the S&P 500 advanced 0.7% to 4547.
  • Swap rates are flat to 2bps lower, with the 2s10s curve flatter.
  • RBNZ dated OIS pricing is little changed, with terminal OCR expectations sitting at 5.54%.
  • The trade deficit narrowed to NZ$1.709b in October from a revised -NZ$2.425b in September. The annual trade deficit narrowed to NZ$14.805b from a revised -NZ$15.412b in September.
  • ICYMI, Bloomberg reported negotiations to form the next New Zealand government neared a conclusion after the National Party secured agreement on key policies with its two partners. (See link)
  • The local calendar’s next release is Q3 Retail Sales Ex-Inflation on Friday.