Daily Alert: Curb your enthusiasm

  • Local markets have, rightly, backed off the idea of a 50bps RBNZ rate hike in October or November following a speech from RBNZ Assistant Governor Hawkesby yesterday.
  • Overnight, there’s been a modest recovery in risk appetite.
  • This morning’s GDT auction saw the main price index rise 1%, a solid result following the 4% lift at the previous auction.

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