Rates rise in all markets; US confidence slips and inflation expectations rise to 3%. All eyes on US Fed's Thursday meeting

Short headline:  First Fed hike in June? Tweet By Kymberly Martin NZ swaps closed up 1 bps across the curve on Friday.  On Friday night, US 10-year yields traded a tight range around 2.11%. It was a very quiet day in NZ swaps markets to end the week with 2-year swap at 3.58% and 10-year at 3.85%. NZGB yields drifted higher into Friday’s afternoon’s …

US debt limit brinkmanship resurfaces; China opens up, gets more support for AIIB; GE Money sells consumer arm; UST 10yr yields up; oil down; NZ$1 = 73.3 USc, TWI = 79

Short headline:  90 seconds at 9 am: China's AIIB wins key support Tweet Here's my summary of the key issues from over the weekend that affect New Zealand, with news of more countries joining the China-funded AIIB. But first, the US debt limit battle may be about to resurface. Their debt ceiling of US$18.1 tln needs to be extended by Congress, and …

Peaceful protests against shale gas in Algeria

ALGIERS, Algeria (AP) ” Thousands of Algerians demonstrated Saturday against plans to drill for shale gas in the south of the country.Organizers say more than 1,000 demonstrators protested in Ouargla, a city 466 miles south of Algiers….

Auckland property: The kindest cuts to come

For months, politicians and economists have looked at Reserve Bank Governor Graeme Wheeler as if he was a potential arsonist in the Auckland housing market, with the ability to pour petrol on the fire with rate cuts.Prime Minister…