Here's our summary of key economic events overnight that affect New Zealand, with news that there is a surprise renewed jump in global shipping freight rates underway again. There was an unexpected rise in global freight rates for containerised cargoes last week, up +16% in the week, principally on outbound rates from China. Meanwhile, bulk cargo rates rose +30% last week as well although they are "only" 57% higher than year ago levels. The China 10 year bond rate is is back up to 2.33%, a +2 bps rise. The NZ Government 10 year bond rate is now at 4.80% and up +7 bps from yesterday.

Source: Stuff May 10, 2024 04:48 UTC