VAST MAJORITY OF FOMC SAY PRUDENT TO SLOW QT FAIRLY SOON

BOC: IF THINGS EVOLVE AS EXPECTED, WILL BE APPROPRIATE TO CUT

BOC SAYS JUNE RATE CUT IS WITHIN REALM OF POSSIBILITIES

MNI BRIEF: Brazil Inflation 3.93% In March, Lowest In 9 Months

MNI Brief: China Targets Standards Update To Support Trade-ins

MNI BRIEF: Fitch China Outlook Downgrade Regrettable - MoF

MNI: US MAR TREASURY BUDGET -236.5B

US Treasury Auction Calendar

EZ/UK Bond Supply Calendar: 3/7/15+ Year BTP Auction Thursday

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

NZGBS: Strengthens Further After Weaker GDP Data

BONDS

A weaker-than-expected Q4 GDP print (-0.6% Q/Q Vs. -0.2% Q/Q) and a downward revision to Q3 (+1.7% Q/Q Vs. +2.0% previously) sees NZGBs add 2bp to the morning's globally induced strength to be 14-17bp richer with the curve steeper by 3bp.

  • The 2-year swap rate declines 7bp on the GDP data with 10-year swap 2bp stronger leaving the swap curve 17-28bp richer on the day. Implied swap spreads are sharply lower at the short end.
  • RBNZ Dated OIS softens 4-15bp across meetings with April meeting pricing at 10bp of tightening. Terminal OCR expectations drop to 5.08%, well below the RBNZ's projected OCR peak of 5.50%.
BulletMarketsFixed Income BulletsHomepage
BulletMarketsFixed Income BulletsHomepage

To read the full story

Close

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.