Asian stocks creep higher amid rate hike fears, China PMIs awaited By Investing.com
Investing.com
Asian stocks creep higher amid rate hike fears, China PMIs awaited
COLLECTED MONEY NEWS
JANUARY - JUNE 2023
Why Japan's stock market boom won't last - Asia Times
Asia Times
TOKYO — Japanese stocks are having quite a moment as waves of foreign capital drive the benchmark Nikkei index to 30-year highs. The common explanation for this year’s 30% gain is that a decade of …
China's surprise rate cut may be just the beginning - Asia Times
Asia Times
Tuesday’s surprise People’s Bank of China (PBOC) interest rate cut signaled the depths of Beijing’s concerns about the slowdown in Asia’s biggest economy. Governor Yi Gang’s team lowered its seven-…
Government financial balance dips in latest 10 month accounts as tax take drops | interest.co.nz
interest.co.nz
Falling tax revenue causes the Government accounts to dip further into the red for the first 10 months of the financial year
Expect upward pressure on local rates as we play catchup | interest.co.nz
interest.co.nz
US payrolls data easily beat expectations which provided upward momentum for stocks and higher US Treasury yields. Services ISM unexpectedly fell to 50.3 from 51.9 in April with the prices, new orders and employment subcomponents all falling
New Lowy South-East Asia Aid Map finds China overtaken as largest provider of development money in region - ABC News
www.abc.net.au
New research finds China has surrendered its position as the largest single provider of development finance in South-East Asia in the wake of the COVID-19 pandemic.
China's industrial profits tumble 18% in April as demand sputters
CNBC
Profits at China's industrial firms slumped in the first four months of 2023, official data showed, as companies struggle with margin pressures and soft demand amid a faltering economic recovery.
OCR could be on hold from now on - Good Returns
www.goodreturns.co.nz
The Reserve Bank has lifted the Official Cash Rate to 5.5% and says interest rates need to stay higher to sustainably reduce inflation.
Reserve Bank lifts OCR to 5.5 per cent but shocks market by saying it’s done enough - NZ Herald
NZ Herald
The Reserve Bank releases its full Monetary Policy Statement.
RBNZ now sees smaller overall falls in house prices | interest.co.nz
interest.co.nz
The Reserve Bank is now indicating it thinks the falls in house prices will slow during this year and will be about finished by the start of next year
The Front Page: Christopher Luxon on what Budget 2023 got wrong and the big ideas he’d like to work on with Labour - NZ Herald
NZ Herald
The National leader wanted to see more fiscal responsibility.
Budget 2023: Finance Minister Grant Robertson gambles on interest rates with boost to spending, borrowing - NZ Herald
NZ Herald
The Finance Minister has made a big bet on inflation coming down.
ANZ says higher official cash rate peak might be needed | Stuff.co.nz
Stuff
Bank is second this week to say it thinks the Reserve Bank may be underestimating the likely peak of the cash rate.
China’s great bond market opening leap forward – Asia Times
Asia Times
Beijing regulators are leaning into a seven-week rally in China’s sovereign bond market by widening access to onshore interest-rate swaps. Yet what sounds like a rather technical turn of the screw …
Rising incomes had the biggest impact on affordability for first home buyers last month | interest.co.nz
interest.co.nz
First home buyers benefit from rising incomes in a stalled property market - but only slightly
Simplicity KiwiSaver Launches Two New Funds including an Aggressive fund
www.nationalcapital.co.nz
Simplicity KiwiSaver launches two new KiwiSaver funds, including an aggressive fund. What does this mean for your KiwiSaver investment?
Debt limit default consequences for mortgages, credit cards and jobs
NBC News
As the nation barrels toward a June 1 deadline to find a resolution, economists and market watchers say the stakes have spiked borrowing costs amid a tanking stock market.
The wholesale rate pressure underpinning mortgages is moving against 1 and 2 year terms | interest.co.nz
interest.co.nz
New Zealand wholesale rates curves have suddenly twisted to be as inverted as they were during the GFC. This may last until inflation is beaten
Federal Reserve raises interest rates to 16-year high as fight to tame inflation persists
NBC News
Many consumers would agree that between inflation and tighter credit conditions, this is the worst they’ve felt about their finances since the pandemic swooped in.
Reports of sales targets prompt FMA letter to banks - Good Returns
www.goodreturns.co.nz
The Financial Markets Authority has written to banks about staff incentives after hearing that some banks have reintroduced sales targets.
A recession is coming — and equity markets may incur some pain, strategist says
CNBC
The latest U.S. economic data suggests a recession is coming, according to the chief executive of financial advisory firm Longview Economics.
Milford Asset Management expert on the start of US first quarter reporting
ZB
Over in the US, first quarter earnings reporting season has officially kicked off. Despite many US companies facing a raft of challenges between interest r
Stock market today: Live updates
CNBC
Investors assessed a weak retail sales report, as well as stronger-than-expected corporate earnings.
Westpac lifts some mortgage rates a day after ANZ following official cash rate hike | Newshub
Newshub
But it's not all bad news.
IMF predicts modest global growth, slowly receding inflation – DW – 04/11/2023
dw.com
The International Monetary Fund said most countries would avoid a recession in 2023, but again forecast some of the slowest global growth in decades. "Inflation's return to target is unlikely before 2025," it said.
The Money