Bonds sold off sharply in Italy and Britain overnight on fears about deficit spending and more talk of ‘higher for longer’ interest rates needed to control inflation globally.
In our bonus deep-dive interview, ANZ NZ Economist Andre Castaing explains why New Zealand’s housing market is heating up again.
5 things to know
Italian and British bond yields jumped 17-20 basis points overnight after Italy’s Government flagged higher deficit spending, which spread concerns already growing over government debt.
Oil prices fell off their 2023 highs overnight.
US stocks are closing higher this morning, but remain on edge ahead of a potential US Government shutdown and as widespread car factory strikes continue.
Australian retail sales were weak, ANZ Australia Economist Maddy Dunk says.
Australian job ads are also softening, Maddy says.
Cheers
Bernard
PS: Have a great weekend. Look out for everything on the RBA’s rates decision next week.
