Breakfast briefing: US bond rates rise; China launches new stimulus
Global economic indicators show mixed results as U.S. bond rates rise and consumer sentiment hits a decade low. Meanwhile, China is implementing new stimulus measures to combat a domestic economic slowdown.
Why it matters
Shifts in U.S. consumer confidence and Chinese economic policy have significant ripple effects on global trade and regional markets like New Zealand.
Here's our summary of key economic events overnight that affect New Zealand, with news the bond market is shouting louder warnings at US policymakers. And China is rolling out more stimulus and subsidies to counter a growing slowdown there.
First today, the overnight Pulse dairy auction delivered mixed results although both the SMP and WMP prices rose from the prior event, up by about +1.6% in USD terms. But as the NZD took a bit of a thrashing overnight, these prices were up more than +3% in local currency terms.
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