5 in 5 with ANZ
5 in 5 with ANZ
Tuesday: Yen near 149 on surging US$
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Tuesday: Yen near 149 on surging US$

US$ index hits 10-mth-high on Fed's 'higher for longer' view; Yen near 149; US 10-yr up 9 bps to new 16-year high; ANZ lifts NZ house price forecast; Dhiraj Nim on India's bond index inclusion

The US dollar is at new highs this morning, powered by another rise in US bond yields in the wake of the Fed’s decision to keep rates high for longer.

In our bonus deep-dive interview, ANZ India Economist Dhiraj Nim explains why India’s inclusion in a JP Morgan bond index is so important.

5 things to know

  1. The US$ index hit a 10-month high this morning on the Fed’s ‘higher-for-longer’ view. The yen neared 149. The US 10 year yield rose another nine basis points to a fresh 160-year high of 4.53%. The 2 year was flat at 5.12%.

  2. China’s property stock index in Hong Kong fell 4.3% overnight on concerns about developers after a large one had to pull a bond offering.

  3. ANZ NZ has raised its house price forecasts. Senior Economist Miles Workman now sees a risk a resurgent housing market may be a factor in a RBNZ rate hike as early as November 29.

  4. Singapore’s core inflation rate fell to 3.4% in August, but it’s not enough for the Monetary Authority of Singapore to start easing, says ANZ’s Head of Asia Research Khoon Goh.

  5. Look out for Australian inflation data tomorrow. Annual inflation is forecast to have been flat at 4.9% in August.

Cheers

Bernard

PS: Have a great day. Tomorrow we’ll take a closer look at how luxury goods sales are a useful indicator for GDP growth in Asia.

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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.