Shows
Economy WatchUS starts to step back from the brinkKia ora,Welcome to Tuesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news the US is moving to end its government shutdown.First, Wall Street has started its week positively with the S&P 500 rising, the Nasdaq rising even more, and the Dow Jones gaining over 240 points as optimism grew that the US Federal government shutdown could soon end. In a procedural vote yesterday, the...
2025-11-1003 minEconomy WatchUS fades both at home and abroadKia ora,Welcome to Tuesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news the fading of confidence in the US is spreading, but trailing the international reputation demise.First up today, the widely-watched Chicago Fed's National Activity Index for the US fell in January from an upwardly revised result for December, suggesting American economic growth decreased to below trend. The personal consumption and housing ca...
2025-02-2403 minEconomy WatchWhat will the RBA do?Kia ora,Welcome to Tuesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news today will be dominated by the RBA rate review, especially as US financial markets are on holiday (Presidents Day).Meanwhile, Canadian housing starts rose in January from December and came in +3.7% higher than year ago levels. Montreal and Vancouver demand drove the increases.Across the Pacific, the Japanese economy co...
2025-02-1704 minEconomy WatchTrump 2 starts with bluster and renegingKia ora,Welcome to Tuesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news the US is today moving from a prosperous and strong four years into an unknown future; the age where billionaires get all the gains. Markets are showing caution, especially the bond market which is likely to be the most reliable predictor of what is to come. And the USD fell. It is all ve...
2025-01-2103 minEconomy WatchChina stimulus fizzesKia ora,Welcome to Tuesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.Today we lead with news that there was little economic data released overnight, so this report will be quite thin - and short.First up today we should note that China's October vehicle sales surged by +7% from a year ago to just over 3 million units in in the month. This contrasted with the -1.7% drop on that ba...
2024-11-1103 minEconomy WatchMarkets bet the Fed has won its battle against inflationKia ora,Welcome to Tuesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.Today we lead with news that US dollar has fallen to a seven-month low as American disinflation extends in their economy and that is raising expectations of rate cuts in each of the Fed's remaining three reviews this year.US equity markets are rising on the same expectation, with the S&P500 moving back to again challenge it...
2024-08-1903 minEconomy WatchHigh rates hurting commercial property fundsKia ora,Welcome to Tuesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news of mostly second-tier indicators today.And that is because it is a public holiday in the US, Memorial Day, and financial markets are closed there.Tt is probably good that business is closed there for one major commercial real estate investor. Starwood Real Estate Income Trust has had to li...
2024-05-2703 minEconomy WatchGlobal manufacturing indicators turn positiveKia ora,Welcome to Tuesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news that global manufacturing indicators have turned quite positive.First in China, their official March PMIs have set a bullish tone to start the week. Their official factory PMI rose to 50.8 from 49.1 a month earlier and export orders also recovered. The official services PMI rose to its highest since June. These were fo...
2024-04-0106 minEconomy WatchGlobal economic impulse stuttersKia ora,Welcome to Tuesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news in the shadow of closed American markets.First, remember today is a public holiday in the US - Martin Luther King Birthday. Both the bond and stock markets are closed.First we should note that the Davos talkfest is underway again. It will have no impact this year despite th...
2024-01-1505 minEconomy WatchAlthough not beaten, inflation pressures ease broadlyKia ora,Welcome to Monday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news inflation's impulse seems to be easing worldwide.In the week ahead, the big international data will focus on the Q3 Chinese GDP result on Wednesday. In the US, the data will be second tier this coming week, although Q4 earnings reports will be released in a swelling tide. We will get so...
2024-01-1407 minEconomy WatchUS inflation not beaten yetKia ora,Welcome to Friday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we have a quick news wrap-up so you can get back to your 'time-off'.First, American inflation has proved more sticky than markets had hoped, up to 3.4% in December, a rise from a five-month low of 3.1% in November. Market had expected a 3.2% rate. Energy prices went down at a slower pace as did food prices an...
2024-01-1105 minEconomy WatchDebt, debt, and more debtKia ora,Welcome to Thursday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we have a quick news wrap-up so you can get back to your 'time-off'.First, after the sharp fall in the two week Christmas holiday period, American mortgage applications recovered as strongly last week. Average mortgage rates were little-changed at 6.81%, plus points.More generally, Bloomberg is reporting that most large economies are about to...
2024-01-1006 minEconomy WatchWorld economic growth slowsKia ora,Welcome to Wednesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we have a quick news wrap-up so you can get back to your 'time-off'.First, American retail is still rising at an increasing rate, up +5.9% last week on a bricks & mortar same-store basis. The gains above inflation are mounting, with Q4-2023 putting in an impressive performance and this latest data for the first full we...
2024-01-0905 minEconomy WatchInflation retreats, oil prices tumbleKia ora,Welcome to Tuesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we have a quick news wrap-up so you can get back to your 'time-off'.Firstly, for those who missed yesterday's update, we now expect the Barfoot December results tomorrow (Wednesday).We start today in the US, with lower inflation expectations for both food and rent that are depowering price increases there. Consumer inflation ex...
2024-01-0804 minEconomy WatchChina shows strengths & weaknesses; the US its strengthsKia ora,Welcome to Monday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we have a quick news wrap-up so you can get back to your 'time-off'.In the week ahead, we will be on the lookout for the Barfoot December sales result. It in fact may come later this morning if last year's schedule is any indication.In the United States this week, the main fo...
2024-01-0706 minEconomy WatchThe Red Sea crisis roils freight ratesKia ora,Welcome to Friday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with a quick news wrap-up so you can get back to your 'time-off'.We are still seeing geopolitics and great power rivalry upending some parts of the global economy, and oil prices as a consequence, but generally conditions are quite stable-to-positive which is perhaps a bit of a surprise in the circumstances. The la...
2024-01-0405 minEconomy WatchAnother down day on equity marketsKia ora,Welcome to Thursday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with a quick news wrap-up so you can get back to your 'time-off'.First, the closely-watched US ISM factory PMI contracted again in December, but by less than expected and less than in November. But the number of months in contraction is now mounting; now its 14th straight month, the longest string since 2000-2...
2024-01-0305 minEconomy Watch2024 starts with worrying hesitationsKia ora,Welcome to Wednesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with a quick news wrap-up so you can get back to your 'time-off'.First, we kick off the New Year with another dairy auction, this one again modestly positive. The key WMP price was up +2.5% from the prior event. Butter was up +2.1%. But both cheddar cheese and SMP eased. Overall the result was +1.2% hi...
2024-01-0208 minEconomy WatchChina and US still diverging economicallyKia ora,Welcome to Thursday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with generally positive news in the US, but extended worries about China's property sector.After quite a jump in the prior week, American mortgage application levels slipped last week and for the first time in six weeks, despite a hefty retreat in benchmark 30 year mortgage interest rates. Those came in at 6.83% plus points, do...
2023-12-2005 minEconomy WatchDairy prices end the year with a riseKia ora,Welcome to Wednesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we should note some more suggestions that the global hard landing may be even further away. The 'soft landing' has actually happened and that's despite wars, China's stumbles and trade tussles.But we start today with the results of the final dairy auction of the year and the results are somewhat mixed. The headline change is...
2023-12-1905 minEconomy WatchRed Sea risks not abatingKia ora,Welcome to Tuesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead 2023 is winding down with mixed outlooks in what may look like second tier data and events, but some of which could blow up over the holiday period.In the US, house builder sentiment has turned higher. The closely-watched Housing Market Index has risen from its lowest in nearly a year, beating forecasts. It wa...
2023-12-1803 minEconomy WatchEyes on retail holiday tradeKia ora,Welcome to Monday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with the 'final' week of shopping is here for the holiday season and most analysts are focussed on what that reveals about economies worldwide.Also in the coming week the American data releases are mostly second-tier but there will be special interest in their PCE inflation, durable goods order levels, and a set of...
2023-12-1706 minEconomy WatchGlobal interest rates move lowerKia ora,Welcome to Friday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news global interest rates are on the move.The big news is the sharp dive in wholesale benchmark interest rates. And American benchmark mortgage interest rates have fallen below 7% for the first time since August.But first, American jobless claims fell last week and by more than expected, and back to...
2023-12-1404 minEconomy WatchWall Street's dovish bets about to be testedKia ora,Welcome to Thursday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news we are waiting on the US Fed.Financial markets are in limbo, cautious ahead of the US central bank's monetary policy meeting results that will be released at 8am NZT today. We will update our webside when these details are released. They are widely expected to keep the fed funds rate ste...
2023-12-1305 minEconomy WatchUS hits stubborn 'last mile' inflation challenge on way downKia ora,Welcome to Wednesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news financial markets are now turning their eyes to the US Fed meeting results tomorrow after it became clear today that while still easing, wringing the last bit of inflation's impulse from their economy could be tougher than first thought.The US Fed targets 2%.The American November inflation rate came in...
2023-12-1205 minEconomy WatchInflation's pressure is easingKia ora,Welcome to Tuesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news we have some major set piece central bank meetings this week and there is a growing feeling they will each try to challenge investors' expectations of 2024 interest rate cuts.But first, American consumer inflation expectations for the year ahead fell to 3.4% in November, the lowest since April 2021. That is down from 3.6% in...
2023-12-1103 minEconomy WatchAustralia moves against foreign house buyersKia ora,Welcome to Monday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news that a lot happened so let's get into it.In the week ahead we will get the US Fed's interest rate decision, and American inflation and retail sales data. We will also get central bank updates from the ECB, the Bank of England, the Swiss National Bank, Norges Bank, and Brazil’s ce...
2023-12-1008 minEconomy WatchNo signals of imminent US labour market stressKia ora,Welcome to Friday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news we are in the shadow of tomorrow's US non-farm payrolls report which will give an important steer on where the world's largest economy is heading.But there were some labour market indicators out today ahead of that report. First, jobless claims rose last week. However, this was the usual seasonal increase, bu...
2023-12-0703 minEconomy Watch2023 ending with a whimperKia ora,Welcome to Thursday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news the world's economy seems to be ending the year in a flat funk. Momentum has leaked away and financial markets are sensing a fairly bleak 2024.However American mortgage applications rose by +2.8% last week from the prior week, marking the fifth consecutive weekly increase and pushing applications to their highest level in te...
2023-12-0605 minEconomy WatchMoody's trims China outlookKia ora,Welcome to Wednesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news Moody's has downgraded the Chinese economy's outlook.First up today however there was a dairy auction overnight and that came in with a minor +1.6% gain in USD terms, although only a +0.5% rise in NZD terms. Rather oddly, most of the major components managed better rises. Cheddar cheese recovered +9.7%, SMP was up +1.2% an...
2023-12-0505 minEconomy WatchGlobal trade choke-points under threatKia ora,Welcome to Tuesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news major global trade choke-points are under threat and this may bring very costly work-arounds.But first in the US, October factory orders fell sharply and by more than expected. They fell -3.6% from September to be down -1.4% from the same month a year ago. But to be fair, this is es...
2023-12-0404 minEconomy WatchSocial stresses rise from China's slowdownKia ora,Welcome to Monday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news the social consequences of the Chinese economic slowdown are just not going away.But first, there were a flurry of factory PMIs released over the weekend confirming a global manufacturing downturn remains, even it is minor.But not minor is the widely-watched US ISM version as that reports a no...
2023-12-0305 minEconomy WatchLower inflation follows tamer activityKia ora,Welcome to Friday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news global inflation is coming down as energy cost pressures recede. And so far it hasn't been at the expense of global economic expansion.But first today, US headline jobless claims rose but the increase was minor and less than expected. On an actual basis the fall was rather sharp but recall la...
2023-11-3006 minEconomy WatchGlobal soft landing anticipated by OECDKia ora,Welcome to Thursday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news the OECD doesn't see New Zealand's OCR being cut until 2025.But first, American mortgage application levels were little-changed last week from the prior week and are now running -19% lower than a year ago as the lower base settles in. Mortgage rates dipped again, but this time only slightly.Th...
2023-11-2905 minEconomy WatchUS retail up, Aussie retail downKia ora,Welcome to Wednesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news markets are reacting to US Fed views that 'everything is on track' and no more rate rises are likely.Firstly though, the first indications of bricks & mortar store retail sales for last week are coming through with the US Redbook index up an impressive +6.3% from the same week a year ago. Al...
2023-11-2804 minEconomy WatchUS rates fall, China risks riseKia ora,Welcome to Tuesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news of falling wholesale rates in the US and rising equity risks in China.First in the US, the one corner of there housing market that has been expanding - the sales of new homes - dipped in October. Sales of new single-family houses fell by 5.6% to an annualised rate of 679,000, well be...
2023-11-2704 minEconomy WatchShoppers upbeat about spendingKia ora,Welcome to Monday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news the early indications are that end of year retailing might be coming in with more upside than expected.But first, this week, all eyes will be on the RBNZ Monetary Policy Review on Wednesday even though no change in the benchmark policy rate is anticipated. We will also get Australia's monthly co...
2023-11-2606 minEconomy WatchCentral banks react to sticky inflationKia ora,Welcome to Friday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news we again need to keep an eye on an outbreak of respiratory illness in China that has rapidly filled hospitals there.But first, with both the US and Japan on holiday, data from other countries are getting a chance to shine through today. But holiday season retail sales are underway and ob...
2023-11-2304 minEconomy WatchTougher US data and global central bank warningsKia ora,Welcome to Thursday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news central bank bosses have been out warning of inflation and economic stress.But first in the US, their Thanksgiving holiday has brought forward some key data releases. First up, the headline jobless claims numbers came in sharply lower than expected, indicating the American labour market isn't done yet showing its resilience. Ho...
2023-11-2204 minEconomy WatchWeak China demographics echo everywhereKia ora,Welcome to Wednesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news China's rapidly changing demographics are weighing heavily on the country.But first, and maybe related, today's dairy auction was a weak one. Prices were only very marginally lower in USD terms, but they fell -2.2% in NZD terms as our currency rose overnight. The key WMP price was up +1.9% in USD te...
2023-11-2204 min
Of InterestWeak China demographics echo everywhereKia ora,Welcome to Wednesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news China's rapidly changing demographics are weighing heavily on the country.But first, and maybe related, today's dairy auction was a weak one. Prices were only very marginally lower in USD terms, but they fell -2.2% in NZD terms as our currency rose overnight. The key WMP price was up +1.9% in USD te...
2023-11-2104 minEconomy WatchGiving "shock therapy" a tryKia ora,Welcome to Tuesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news it seems to be the season for some "shock therapy" - from OpenAI to Argentina.Byt first in the US, this is the lead-up week to their long Thanksgiving holiday weekend, a four-day Thursday-to-Sunday work-break - for many. Wednesday is usually a travel crush day. Thursday (Friday NZT) a quiet family da...
2023-11-2005 minEconomy WatchArgentina wrestles with stark choiceKia ora,Welcome to Monday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news some eyes are on the cliff-hanger election is Argentina. It is turning out to be very close.But first, in the week ahead, the main focus will be on the Fed meeting minutes followed by American durable goods orders, manufacturing PMIs, and some housing market data. We will also get flash MP...
2023-11-1904 minEconomy WatchCommodities out of favour; oil prices diveKia ora,Welcome to Friday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news of some weaker American data overnight that has brought a risk-off tone to financial markets and a pull-away from commodity currencies like the NZD.US jobless claims rose marginally last week but the weekly series of small rises are now adding up and they are now at their highest in almost 3 mo...
2023-11-1604 minEconomy WatchGoldilocks end to inflation's threatKia ora,Welcome to Thursday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news American data points to the soft landing the US Fed has been looking for as it seems to have successfully navigated the inflation transition.But first we should note that President Xi has arrived in San Francisco for the APEC meeting, his first visit to the US in five years. The la...
2023-11-1506 minEconomy WatchCooling US inflation likely ends Fed hikesKia ora,Welcome to Wednesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news markets sense the US Fed is about to say it is done raising ratesIn the US, their annual inflation rate slowed to 3.2% in October from 3.7% in both September and August, and below market forecasts of 3.3%. Core inflation retreated to 4.0%, also a touch less than expected. Even the month-on-month data came in...
2023-11-1404 minEconomy WatchWorld economy can't find momentumKia ora,Welcome to Tuesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with the Americans face yet another government shutdown threat from disorganised partisans in Congress.But first today, the respected NY Fed American inflation expectations survey was actually little changed. Consumers said in October that inflation for the year ahead will be to 3.6%, down from 3.7% in September. Inflation expectations remained high but unchanged for re...
2023-11-1304 minEconomy WatchAustralia gets another major national IT crisisKia ora,Welcome to Monday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news that on top of the Optus screwup, now the four larges ports in Australia are effectively shut down via a cyberattack.But first up today, we should note that credit rating agency Moody's has held the US rating at Aaa, but changed the outlook to 'Negative' from 'Stable'. It has been 'S...
2023-11-1207 minEconomy WatchApple loses key fight round over $20 bln tax claimKia ora,Welcome to Friday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news that Apple's tax tussle with the EU isn't going its way. And more than NZ$20 bln is at stake.But first up, US jobless claims were reported lower in the seasonally adjusted data, but actually rose in the raw data, and by quite a bit. There are now 1.608 mln people on th...
2023-11-0904 minEconomy WatchBeijing takes the soft optionsKia ora,Welcome to Thursday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news there is little evidence the global economy is on the rise. Bond markets don't think so.But first, last week there was a rare rise in American mortgage applications, now off a lower base however, but also helped by sharply lower mortgage interest rates. Their benchmark 30 year fixed rate fell to 7.61% pl...
2023-11-0805 minEconomy WatchChina's exports fall at a faster paceKia ora,Welcome to Wednesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news global trade is in the spotlight.The run of dairy price rises ended in today's Global Dairy Trade auction today. Overall prices fell -0.7% in USD terms, down -1.2% in NZD terms. The key WMP price fell -2.7% in a key shift, but one signaled by the weekly GDT Pulse events al...
2023-11-0705 minEconomy WatchChina-Australia relations thawKia ora,Welcome to Tuesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news mostly about Australia today.The Australian prime minister is in Beijing meeting with President Xi. Trade is the main topic, and that needs improved relations after a period of bilateral tension. These latest meetings bring a notable thaw, ahead of the US-China meetings at the upcoming APEC conference. Xi said China's re...
2023-11-0604 minEconomy WatchBond markets rally as rate expectations retreatKia ora,Welcome to Friday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news the US Treasury’s debt issuance plan eased investors’ fears of a looming deluge of long-term government debt that had triggered a bond market rout and bond markets have rallied very sharply.But first in the US initial jobless claims rose last week by a mere +2800 last week to 197,000 and there are no...
2023-11-0305 minEconomy WatchStrong US data keeps Fed from signaling it is 'done'Kia ora,Welcome to Thursday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news the US central bank still sees American inflation 'elevated' above where it needs to be.At its latest review, the US Fed has delivered the result markets expected, and one well signaled by the recent Fed speakers - a hawkish hold. They kept the federal funds rate at a 22-year high of...
2023-11-0106 minEconomy WatchXi on defence over economy trackKia ora,Welcome to Wednesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news the Chinese President is having to get involved in shoring up China's faltering economic track.In China, their official factory PMI fell unexpectedly in October back into contraction after the minor expansion in September. Markets weren't expecting that, So China's economic recovery remains fragile with more support measures from the government ne...
2023-10-3105 minEconomy Watch'We're OK if we can avoid the shocks'Kia ora,Welcome to Tuesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news geopolitical risks remain high but they don't seem to be escalating from here, and markets are taking that as a positive signal. But benchmark interest rates are back rising again.First up today, global banking giant HSBC has announced a doubling of its profits in Q3-2023. They made NZ$13 bln in...
2023-10-3004 minEconomy Watch"Not good enough" Australia tells the EUKia ora,Welcome to Monday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with economic news away from the global geopolitical struggles was only 'average' over the weekend.In the week ahead, the key local data is our September labour market situation which is due Wednesday. More here.Then on Thursday (NZT), the US Fed will review its monetary policy position, quickly followed on Sa...
2023-10-2904 minEconomy WatchConsumer spending drives unexpected US growth spurtKia ora,Welcome to Friday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news that is impressive out of North America.First up today, the Americans have delivered a stellar Q3-2023 GDP expansion, far higher than the optimistic forecasts, and far higher than the very good Q2-2023 expansion of +2.1%. In Q3, the giant American economy grew +4.9% according to their advance estimate. Better, this wa...
2023-10-2604 minEconomy WatchCommodity prices ease lower across the boardKia ora,Welcome to Thursday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news commodity prices are trending down across the board now - but not money commodity prices.But first in the US, although mortgage applications 'only' fell -1% last week from the prior week (and to be down -22% from a year earlier), the big news was the +20 bps jump in their benchmark 30 ye...
2023-10-2504 minEconomy WatchUS economy rolls on, China's struggles get Xi's attentionKia ora,Welcome to Wednesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with economic news is taking a bit of a back seat today but there are still key trends to note.First in the US, the latest PMI reading for the American manufacturing sector has it out of contraction to its best level in six months. This same 'flash' report for October for their se...
2023-10-2404 minEconomy WatchBenchmark rates and commodity prices fallKia ora,Welcome to Tuesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news we are seeing falls in some key commodity prices (like oil and copper), and a sharpish retreat in benchmark interest rates today. That is probably all due to rising risks in the Middle East.But looking ahead, this short week we will be looking at the second estimate of the US Q3...
2023-10-2306 minEconomy WatchStrong US economy could need more rate increases says PowellKia ora,Welcome to Friday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news the US may not be over more rate hikes yet.First up today, Fed boss Powell has been speaking and trying to pitch a middle path, one that he suggests they have got policy settings about right. But he did concede that the American economy's strength including very tight labour markets co...
2023-10-1906 minEconomy WatchTrying to not "over-react"Kia ora,Welcome to Thursday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news financial markets are struggling to respond to the enhanced geopolitical threats and are doing so by "not over-reacting". In the background, volatility was lower and earnings reports were positive. A speech by Fed boss Powell is due soon.But first up today, the release of the important US Federal Reserve's Beige Bo...
2023-10-1805 minEconomy WatchUS consumers keep splurgingKia ora,Welcome to Wednesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news bond yields are rising fast today as hot American data fuels bets the US Fed will need to raise rates again.But first, the overnight dairy auction was a reprise of the previous two, up another +4.3% this time. But to be fair it hasn't yet made back all of its steep fa...
2023-10-1705 minEconomy WatchWall Street blind to global risksKia ora,Welcome to Tuesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news global financial markets are still assuming the Gaza-Israel flare-up won't affect them.On Wall Street analysts are betting the American economy is actually operating better than they had been assuming. And tech stocks are rising ahead of earnings reports that are assumed to be strong. Consumer stocks are rising as well. Th...
2023-10-1605 minEconomy WatchBehind the headlines, China's slowdown undermines the global economyKia ora,Welcome to Monday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news the threat of the Chinese economic slowdown hangs over the global economy and now they are staring at imminent deflation.But first we should note, there was a right-shift in the political mood evident in weekend voting in both Australia and New Zealand. There is also a key election going on in...
2023-10-1505 minEconomy WatchBrisk inflation remains a global threatKia ora,Welcome to Friday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news inflation's force is on full display again, and long bond yields are back rising.But first in the US, consumer inflation was steady at 3.7% in September, the same as August, against market expectations of a slight decrease to 3.6%. A smaller decline in energy prices offset slowing inflationary pressures in other categories. En...
2023-10-1205 minEconomy WatchChances of more rate rises recedeKia ora,Welcome to Thursday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news that in the shadow of the sudden geopolitical risks in Gaza, economic markers are generally positive. But the chances of more rate rises seem to be receding.US mortgage applications were steady last week, little-changed from the prior week so still -19% lower than year-ago levels, which was when the down-trend st...
2023-10-1104 minEconomy WatchPlenty of global gloom, but also some bright spotsKia ora,Welcome to Wednesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news the new war in Gaza, and a stumbling Chinese economy are together posing new risks to an already fragile global economy. But there are some bright spots still.Firstly in the US, one-year ahead inflation expectations held steady at 3.7% in September, up fractionally from August. Conversely, five-year-ahead inflation expectations declined by 0.2 pe...
2023-10-1006 minEconomy WatchMarkets pretend geopolitical risks won't affect themKia ora,Welcome to Tuesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news investors are ignoring the geopolitical risks.The main talking point today is how little financial and commodity markets have reacted to the sudden Gaza-Israel conflict threats. Yes, bond markets are having a 'flight to safety' with yields falling somewhat, but is it limited. Yes, oil prices have risen, but they are ar...
2023-10-0903 minEconomy WatchSafe haven assets back in the spotlightKia ora,Welcome to Monday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news the sudden Middle-East explosion is likely to put safe-haven assets back in the spotlight this week.But first, China said its giant foreign exchange reserves were little-changed in August. They don't provide transparency of which currencies they hold them in, but we do get some of that from the US data wh...
2023-10-0807 minEconomy WatchGlobal 'soft landing' more likelyKia ora,Welcome to Friday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news a global soft landing seems much more likely now, despite China's travails.The actual number of Americans on jobless benefits was just 1.58 mln and an eight month low, and the number of new filings were 173,000 last week and close to a seven month low. None of this very current data suggests la...
2023-10-0505 minEconomy WatchEconomic data quite mixedKia ora,Welcome to Thursday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news a sense of dread you might get looking at financial markets from the outside isn't being reflected in the activity of those markets.But first the worrying news. We should note that American benchmark mortgage interest rates topped 7.5% last week for the first time since November 2000. 8% rates seem in sight. So it...
2023-10-0405 minEconomy WatchGlobal bond sell-off intensifiesKia ora,Welcome to Wednesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news high interest rates are becoming the new normal, even as benchmark rates keep in rising fast. Where will it end?But first, the overnight dairy auction was a good one again, a third consecutive rise, this one by +4.4% in USD terms, up +5.0% in NZD terms. That takes the year-on-year change to -2...
2023-10-0305 minEconomy WatchBenchmark yields jump againKia ora,Welcome to Tuesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news benchmark UST yields are rising fast again but the rate inversions are unwinding just as fast.But first up, we should note that the World Bank has cut its forecast for 2024 growth in the Chinese economy sharply, down from +4.8% it forecasted in April, to now +4.4%. Its expectation for 2023 remains +5.1%, so the 2024 de...
2023-10-0205 minEconomy WatchChina just crawling along nowKia ora,Welcome to Monday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news, a pair of surveys confirm the giant Chinese economy is just crawling along, neither expanding nor contracting.First up today however, we need to note that it is a holiday in much of Australia, their Labour Day.And late on Friday, they released a review of June quarter foreign in...
2023-10-0107 minEconomy WatchEmployment gains outpace inflation's costsKia ora,Welcome to Friday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news, so far the sky is not falling despite the higher benchmark interest ratesFirst in the US, the actual number of new initial claims for jobless benefits fell to just under 175,000 last week, emphasising the continuing strength of the American labour market. True, the seasonally-adjusted version rose marginally, but even so, th...
2023-09-2805 minEconomy WatchBenchmark yields push even higherKia ora,Welcome to Thursday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news it is the same story continuing, benchmark yields are still pushing higher.But first, after the prior week's rather unexpected surge, American mortgage applications fell last week, reverting to the negative trend we have seen since May 2023. The usual culprit was responsible; mortgage interest rates rose again, this time to 7.41% plus po...
2023-09-2705 minEconomy WatchMarkets on edgeKia ora,Welcome to Tuesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news the fall in bond prices (rise in bond yields) is biting even harder today. Equity market valuations are taking a hit from the pressure on capitalisation as rates rise.And a looming US government shutdown isn't helping sentiment either. JP Morgan boss Jamie Dimon is now worried the Fed could take it...
2023-09-2604 minEconomy WatchThe cost of money rises ever higherKia ora,Welcome to Tuesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news asset values are under threat as the cost of money rises.All the focus in financial markets is on bond yields. They rose overnight as investors concluded that the world's major central banks would need to keep the interest rates higher for longer to keep inflation in check. The yield on th...
2023-09-2504 minEconomy WatchCan the world withstand higher interest rates?Kia ora,Welcome to Monday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news higher benchmark interest rates are clouding the global economy.But after last week's big central bank meetings, this week it will be more about macroeconomic data. In the US, the spotlight will be on the PCE Price Index, as well as personal income and spending data. And durable goods orders, the fi...
2023-09-2405 minEconomy WatchBenchmark interest rates riseKia ora,Welcome to Friday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news it is all about the fast-rising benchmark interest rates and steeper curves today. And higher rates may be here to stay. We should remember that in the decade prior to the GFC, which ushered in 'lower for longer', the benchmark UST 10yr rate average 4.52%. We could well be a 'higher for longer' period no...
2023-09-2105 minEconomy WatchFed sets up 2024 for rates holding highKia ora,Welcome to Thursday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news all eyes have been on Washington DC and the US Fed.As expected, the American central bank's September policy review was a "hawkish hold". It kept its policy rate at 5.25% following a +25 bps hike in July but signaled there could be one more hike this year. They pointed out that their la...
2023-09-2006 minEconomy WatchMarkets nervous ahead of Fed decisionsKia ora,Welcome to Wednesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news both equity and bond markets are displaying some nerves ahead of tomorrow's US Fed rate and policy decisions.But first, there was another dairy auction overnight and a good gain was achieved even if not as strong as some market forecasts expected. Overall prices were up +4.6% in US dollar terms on to...
2023-09-1905 minEconomy WatchEyes on Fed as risks won't fadeKia ora,Welcome to Tuesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news we are entering the shadow period before the next US Fed review on Thursday (NZT) and activity is restrained. The Bank of Japan is also doing its regular review and expectations of changes driven by its new governor are uncertain now.But we can first report that the NAHB/Wells Fargo Am...
2023-09-1804 minEconomy WatchChina's struggles deepenKia ora,Welcome to Monday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news China is showing signs of struggle, and yet the Wall Street-anticipated signs the US would slow in 2023 are yet to emerge.But first, this coming week will be dominated by the US Federal Reserve's interest rate decision on Thursday (NZT). Also on Thursday, Fonterra will report its profit result and it is e...
2023-09-1707 minEconomy WatchChina & EU make dovish moves, US data positiveKia ora,Welcome to Friday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news central banks in both China in the EU have been active overnight, both dovishly.But first up, initial American US jobless claims last week came in little-changed at +220,000 so there are now 1.69 mln people on these benefits, also very little-changed. Their long-awaited labour market stress still hasn't arrived. It surely will, bu...
2023-09-1406 minOf InterestChina & EU make dovish moves, US data positiveKia ora,Welcome to Friday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news central banks in both China in the EU have been active overnight, both dovishly.But first up, initial American US jobless claims last week came in little-changed at +220,000 so there are now 1.69 mln people on these benefits, also very little-changed. Their long-awaited labour market stress still hasn't arrived. It surely will, bu...
2023-09-1406 minEconomy WatchUS inflation stays stubbornly highKia ora,Welcome to Thursday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news all eyes are in the latest inflation updates.But first, mortgage applications in the US fell -0.8% last week, following a -2.9% drop in the previous week and hitting a new 27 year low, since December 1996. This was even after adjusting for their Labor Day holiday weekend. Getting the blame are higher mo...
2023-09-1305 minEconomy WatchAustralian business and consumer sentiment remains stuntedKia ora,Welcome to Wednesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news Australian business and consumer sentiment remains stunted.But first, American retail sales last week as monitored for bricks & mortar stores on a same store basis, rose +4.6% from the same week a year ago, the best gain of the year and indicating demand is back and gains are now more than can be...
2023-09-1204 minEconomy WatchJapan and China push back against rising greenbackKia ora,Welcome to Tuesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news both China and Japan are making background moves to raise the value of their currencies after long weak periods.But first, American inflation expectations for the year ahead were little-changed at 3.6% in August from 3.5% in July, but it was the first increase in five months. Expectations for rents rose to 3.1%, the hig...
2023-09-1104 minEconomy WatchDeflation pressure in China easesKia ora,Welcome to Monday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news a bit of price stabilisation is returning to the Chinese economy.Chinese consumer price inflation came in little-changed for August. It was up +0.3% from July, and up only +0.1% from a year ago. Milk and lamb prices fell in the month, beef prices were unchanged from July. Year-on-year milk prices are essentially un...
2023-09-1005 minEconomy WatchThe US and China continue to divergeKia ora,Welcome to Friday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news of more of the same - continuing American economic strength, worries about China's prospects.The number of American filing for new jobless claims fell to +190,000 last week which is their lowest since February. A rise to +234,000 was expected so this is a much better-than-anticipated result. There are now 1.75 mln people on th...
2023-09-0705 minEconomy WatchResilient US economy defies doomsters againKia ora,Welcome to Thursday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news the world's largest economy keeps on throwing up unexpected positive surprises.First up today, there was a very strong August services ISM PMI out for the giant American economy. It is a widely-watched and influential metric and it rose unexpectedly with its strongest growth in six months. Faster increases were seen in...
2023-09-0606 minEconomy WatchDairy prices stop fallingKia ora,Welcome to Wednesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news the return of Wall Street from their long weekend holiday has been a quiet one, although Saudi Arabia greeted them back with a move that raised oil prices.But first up, the overnight dairy auction delivered a +2.7% rise in overall prices, headlined by the +5.3% rise in the WMP price. (From the la...
2023-09-0505 minEconomy WatchEyes on Chinese housing marketsKia ora,Welcome to Tuesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news it will be worth keeping an eye on Chinese housing sales in September.But first we should note that the rest of the world has basically had its feet up overnight, and there is little new data, or events to report.China has nothing to say (because it won't sa...
2023-09-0404 minEconomy WatchResilient US economy defies predictionsKia ora,Welcome to Monday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news of a slight easing of labour market pressure in the US, but the long predicted recession still seems far away.But first in the week ahead, it will get started slowly with the US currently on its long end-of-summer Labor Day weekend. We won't see them back in international financial markets un...
2023-09-0306 minEconomy WatchUS resilient, China weak, India up but has problemsKia ora,Welcome to Friday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news American inflation and consumer spending remain at levels above where the US Fed needs them to be.But first, actual American jobless claims came in at a low 192,000 last week, lower than expected and there are now under 1.8 mln people on these benefits. This is a good way to head into th...
2023-08-3106 minOf InterestWaiting & watchingKia ora,Welcome to Thursday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news the world is waiting to see what direction inflation will take from here and how fast it will move.But first, American mortgage applications rose again as another indication the US housing market is coming back to life. The rise from the prior week was minor, and this was despite virtually no c...
2023-06-2804 min