5 in 5 with ANZ
5 in 5 with ANZ
Friday: Bond market selloff widens to Italy, UK
0:00
-8:24

Friday: Bond market selloff widens to Italy, UK

Italian & British bonds sell off sharply on deficit worries; Oil slides off highs; US investors eye Govt shutdown & car factory strike; Andre Castaing on why NZ's housing market is warming up again

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

  1. 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.

  2. Oil prices fell off their 2023 highs overnight.

  3. 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.

  4. Australian retail sales were weak, ANZ Australia Economist Maddy Dunk says.

  5. 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.

Share

5 in 5 with ANZ
5 in 5 with ANZ
A daily podcast hosted by Bernard Hickey that gives you the five things you need to know about the global economy and markets in under five minutes. Plus a deep dive into emerging trends and issues featuring ANZ's global team of experts.