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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.
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Free AccessNZGBS: Richer, Subdued Dealings, Q1 Employment Report On Wednesday
NZGBs closed in the middle of today’s trading range, 2-4bps richer. With a light domestic calendar and no cash US tsys trading due to a public holiday in Japan, local participants have largely sat on the sidelines.
- Tomorrow the local calendar will see ANZ Business Confidence & Activity Outlook, ahead of the Q1 Employment Report on Wednesday. The FOMC’s Policy Decision is due Thursday morning local time.
- Swap rates are 2-3bps lower, with the 2s10s curve steeper.
- RBNZ dated OIS pricing is 1-2bps firmer for meetings out to Oct-24. A cumulative 26bps of easing is priced by year-end.
- (Bloomberg) NZ house-price inflation will be weaker than previously expected in the 1H before a recovery in the 2H, ANZ Bank NZ economists say in an emailed report containing fresh forecasts. (See link)
- The RBNZ will close its offer to repurchase NZGBs maturing May 2024 on May 1 at 4pm, according to a notice. RBNZ repurchased NZ$1.28bn of the May 2024 bond.
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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.