RBNZ Hikes By 50bp, With Worry Re: Inflation Expectations Evident

Below gives key levels of markets in the second half of the Asia-Pac session:

• Nikkei 225 up 394.27 points at 26729.11
• ASX 200 up 16.121 points at 7470.1
• Shanghai Comp. down 14.192 points at 3199.138
• JGB 10-Yr future up 7 ticks at 149.31, yield down 0.9bp at 0.236%
• Aussie 10-Yr future up 4.5 ticks at 96.905, yield down 3.8bp at 3.043%
• U.S. 10-Yr future -0-05+ at 120-10+, yield up 2.28bp at 2.744%
• WTI crude down $0.36 at $100.28, Gold up $2.48 at $1969.31
• USD/JPY up 22 pips at Y125.60
• FED'S BRAINARD SAYS BALANCE SHEET REDUCTION COULD START IN JUNE (RTRS)
• FED’S BULLARD: IT’S ‘FANTASY’ TO THINK MODEST RATE RISES WILL TAME INFLATION (FT)
• HARKER SAYS FED MUST BE CAREFUL AS IT RAISES RATES (MNI)
• FED'S BARKIN SAYS INTEREST RATES SHOULD BE MOVED RAPIDLY TO NEUTRAL (RTRS)
• RBNZ SOUNDS INFLATION WARNING WITH BIGGEST RATE HIKE IN 22 YEARS (BBG)
• NO SIGN OF JOHNSON OR SUNAK STEPPING DOWN IN WAKE OF “PARTYGATE” FINES
• TOP OIL MERCHANT VITOL WILL STOP TRADING RUSSIAN CRUDE (BBG)