Here's our summary of key economic events overnight that affect New Zealand, with news global investment sentiment is weakening as the Americans look ready to score an own goal. But US mortgage applications fell yet again last week and benchmark rates rose by more than +10 bps to almost 6.7% plus points. The UST 10yr yield starts today at 3.73% and up +3 bps from yesterday. The Australian 10 year bond yield is now at 3.64% and down -2 bps from yesterday. Yesterday's RBNZ Monetary Policy decisions saw local swap rate fall back sharply, but interestingly only to where they were a week ago, or a month ago.

Source: New Zealand Herald May 24, 2023 22:46 UTC